Wanted in northeast Indiana: farmers to accept premiums for growing high oleic soybeans. Last week Monsanto gathered groundbreakers who will be the first to plant their Asgrow Vistive Gold beans in Indiana this year. They are paying premiums and more growers are needed, according to Sarah Vacek, Vistive Gold product manager.
“It’s not too late to sign up and this year we have a 60 cent per bushel premium for every bushel of soybeans that are produced. In addition because of extra stewardship steps there’s an extra $12.50 per acre for the growers growing Vistive Gold soybeans this year.”
Those stewardship steps are necessary while Monsanto awaits some key global approvals for Vistive Gold.
Jim Schriver is an Indiana farmer and board member for the United Soybean Board. He told the groundbreakers that these new soybeans that produce zero trans fat oil will help soybean growers get back in the food service game.
“We lost a large percentage, a great deal of our oil market because of the trans fat issue, and because of the requirement for labeling trans fats back in 2006. We lost about 4 billion pounds of oil from the marketplace which affected our price ability. So we’re trying to come into the market with high oleic to capture that market back, and the high oleic has a lot of properties that the frying industry likes.”
He told HAT the product also has benefits at the cold end of the spectrum.
“We’re not sure where that will go long range. There are a lot of people who think that the yellow grease market has more cold flow ability and a second use will be in the biofuels industry or some other industry of that nature. But this product has a lot of opportunity.”
Tyson Franks of Fremont, Indiana is a farmer signed on for 2014.
“I think it’s extremely important. I’m involved in social media and seeing a lot of the concerns out there with GMO’s and nutrition, and I think it’s important for us to show the world and our neighbors and our landlords and those involved with us that we are trying to utilize these things for the betterment of everyone. Everyone’s health is at the top of the list and I think it’s interesting and exciting to be a part of such a thing that can revolutionize the food industry.”