As harvest winds down for 2022, it’s being called an excellent crop year for some farmers who grew non-GMO soybeans. Jeff Johnson, president of Benson Hill Seeds, says Indiana specifically showed very good returns.
“We’re excited because we not only saw good yields, so the quantity of production, but the quality of the production, that output of specialty traits like ultra-high protein levels in the soybeans or high oleic oil, those qualities were at target or better in Indiana,” he said.
Benson Hill is now offering 2023 contracting opportunities here in Indiana. Johnson says their program name says it all, Plant for Profit | Harvest the Future.
“They can make more ROI per acre, so economically it makes sense, and I think they feel good about what they’re doing because they see the consumer benefit of what they’re producing and the environmental impact of how they’re doing it.”
Benson Hill is contracting three different technologies, including Ultra-High Protein and high oleic/low linolenic non-GMO soybeans.
“Typically we when we crush soybeans, we get both oil and meal out and we have varieties in Indiana that have both specialty meal and specialty oil in the same plant.”
And what is in that contract?
“Provides the farmer a premium over what they would get on the Chicago Board of Trade for the specialty production for keeping that separate and identity preserved and growing that product out,” Johnson explained. “But then there are several premiums that give growers opportunities. For example, we have upcoming next week on the 15th (of November,) if they commit before then, we have extra discounts per bushel. It’s actually premiums they would get per bushel of production for committing, so there’s some really short term opportunities for Indiana growers. We also reward them for the number of acres they’re growing and how they control that product.
Seed treatments are offered, and there is a crop delivery deal for those beyond the local territory of the Seymour, Indiana crush location. More details in the full HAT interview with Johnson and at their website. Here’s the interview:
