Indiana and Ohio soybean growers have the opportunity for additional revenue by planting high-oleic soybeans this year. Indiana Soybean Alliance president and Jay County farmer Dave Lowe says, “We’ve heard anywhere from fifty to sixty cents, plus up to $12.50 an acre and other opportunities in one of the programs.”
He tells Brownfield last year one of the two companies offering high-oleic beans planted around 30,000 acres of beans – and there is plans for that acreage to continue to expand. “They’re hoping in the next five years that we’ll have over 200,000 acres in the Midwest,” he says.
And, he says, there’s a reason Indiana, Ohio, and Michigan are being targeted. “Our area is actually very well-known for developing high quality protein beans and bean meal,” he says. “And our area has been targeted because of the quality beans we can produce.”
He says high oleic soybeans also gives the soybean oil industry a chance to regain some of the market share lost in the food service industry in recent years.