Indiana farmers can secure high oleic soybean contracts
Hoosier farmers have until Dec. 1 to secure high oleic soybean contracts for the 2023 growing season.
Cass County Farmer Kevin Wilson has locked in a $2.20 bushel premium.
“The premium that I have been offered through ADM is $2.20 locked in on top of whatever price when you chose to sell your soybeans,” he says. “It seems to be a really great benefit for us. With all the variability that we have going on, this is a constant one that we can lock in and we know that premium will be there.”
Wilson says the transition has been easy and he doesn’t do anything differently during the growing season for high oleic soybeans than he does for commodity soybeans.
“This is year seven for us. We got started with a small acreage with the Plenish program and we wanted to try them. We were storing some beans and thought it would be a good fit for us and we haven’t looked back,” he says. “Yields have been really good. It doesn’t require a lot of extra work and it’s been a good benefit for us.”
He says high oleic soybeans add long-term value for U.S. soybean farmers.
Wilson is a United Soybean Board director and grows corn, soybeans, and tomatoes in Walton, Indiana, with his two brothers.
The United Soybean Board says high oleic soybean varieties offer increased functionality for the food sector and industrial applications. They have the same agronomic performance as traditional soybean varieties. They also provide a sustainable U.S.-grown oil product for the food industry as well as other end-use markets.
High oleic soybean acres topped 800,000 in 2022 and are expected to climb to 1.2 million in 2023.
Farmers can learn how to secure high oleic soybean production at unitedsoybean.org.
USB’s 78 volunteer farmer-leaders work for U.S. soybean growers to achieve maximum value for their soy checkoff investments.
The Indiana Soybean Alliance works to enhance the viability of Indiana soybean famers through the effective and efficient investment of soybean checkoff funds that protect and promote the interest of Indiana soybean farmers.
Audio: Kevin Wilson