High Oleic Soybean Opportunity for Ohio Farmers in 2020

By Dusty Sonnenberg, CCA, Ohio Field Leader

Ohio farmers now have increased availability of high oleic soybean contract opportunities and more delivery locations and options to grow high oleic soybeans for the 2020 season. High oleic soybeans earn an average premium of 50 cents per bushel. High oleic varieties also offer a sustainable, highly stable, U.S.-grown oil product for the food industry and other customers, expanding the market for U.S. soy.

For farmers, high oleic soybeans are backed with over a decade of research to ensure they meet expectations in the fields. Farmers growing high oleic soybeans report that high oleic yields on par with their other varieties. For end-use customers, high oleic soybeans offer higher-functioning soybean oil that meets the needs of a growing number of food and industrial customers. This added functionality allows farmers to add market potential.

“On my farm, high oleic soybeans have proven to be hearty. They emerge

well, we can plant them deeper and they have always been at the top end of my yield map, which is a testament to the breeding that goes into these beans,” said John Motter, soybean farmer from Hancock County.

Nationwide, soybean farmers have lost food-oil demand annually since the onset of mandatory trans-fat labeling. High oleic soybeans offer U.S. farmers an opportunity to gain 9 billion pounds of that demand for soybean oil from food, industrial and export customers. Because there is a market for both commodity soybeans and high oleic soybeans, all farmers will benefit from an increase in demand.

Twenty elevator and processor locations throughout Indiana and Ohio have collaborated with ADM in Indiana and Bunge in Ohio to offer contracts to growers for either on-farm storage or defined amounts of harvest delivery for high oleic soybean varieties.

With many high premium contracts already finalized, high oleic contracts offer the opportunity to collect additional revenue with minimal investment next season. High oleic soybeans can even be processed with commodity beans if necessary.

The Ohio elevators and processors that will contract with farmers for both on-farm storage and a defined amount of harvest delivery for the 2020 growing season include: Edon Farmers Cooperative in Montpelier, Ohio and the Gerald Grain Center locations in Archbold, Wauseon, Delta, Napoleon, Liberty Center, and Hamler, along with the Bungee locations in Delphos and Bellevue.

Indiana locations contracting with farmers include: Clunette Elevator in Leesburg, Deatsman Farms in Leesburg, Dennis Grain Company in Huntington, Shideler Grain in Eaton, Smith Grain in Rochester, McGrawsville Feed & Grain in Amboy, Wheatfield Grain locations in Rensselaer and Wheatfield, and also the Bunge locations in Decatur and Waterloo.

The ADM location in Frankfort, IN will contract with farmers for on-farm storage contracts for the 2020 growing season.

Many soybean farmers find planting high oleic varieties an easy change due to the ease of introducing them to their farm.

“Your application and fertility programs stay the same as your commodity beans. High oleic beans do not require any additional maintenance in your program,” said Jessica Keppeler, high oleic soybean farmer from Edgerton, Ohio. “The biggest difference you do see is the premium you receive for raising high oleic soybeans.”

The soy checkoff recognizes the potential high oleic soybeans have to revolutionize the soy industry. From increased food functionality to industrial uses, high oleic soybeans add long-term value for all U.S. soybean farmers by providing a product that meets the demand of new and emerging markets for soy.

“This is just another way for farmers to widen their margins and see more return,” said Keppeler.

To see the full map of high oleic acreage and find out if contracts are available near you, visit soyinnovation.com/location and type in your ZIP code to find your nearest delivery location.

For more information about high oleic soybeans, visit soyinnovation.com

For more information about this program, visit the United Soybean Board