High oleic soybean acres in Indiana continue to increase. The extra premium is proving attractive, especially with lower soybean prices. The numbers continue to look good for DuPont Pioneer’s Plenish variety of high oleic soybeans. The number of contracted acres continues to grow, the number of countries approving the oil continues to increase, and the yields for the new varieties continue to get better. Russ Sanders, with Pioneer, says, with lower soybean prices forecast for 2015, more and more growers are taking a look at the program, “A 50 cent premium on $9 or $10 soybeans is a lot more than it is on $15 soybeans and farmers notice that.” In addition, Sanders says a good foundation is being laid to increase production to meet what is expected to be growing demand. Sanders told HAT the Plenish varieties have improved dramatically and now provide yields that are competitive with non high oleic seeds.
It is hoped that the EU will give regulatory approval to Plenish this summer, thus greatly increasing the demand for the oil made from the Plenish soybeans. Don Wyss, with Bunge in Decatur, IN, says Indiana is ready to meet the increasing demand for this healthy oil product, “As the acres have increased in Indiana, we have been able to ramp up the system to accommodate the growth. He added, as the program has grown in Indiana, the infrastructure has also gotten better, “The delivery points we have within Bunge have gotten better. We can now take delivery of the high oleic soybeans at some locations every day. So we are able to give the customer service.”
The United Soybean Board has made the growing of high oleic soybeans a priority in the Eastern Corn Belt as it tries to regain soybeans’ share of the vegetable oil market. The oil produced from these soybean varieties produces no trans-fat and performs better in cooking and food processing applications.