Contract acres for high-oleic-oil soybeans from DuPont/Pioneer and Monsanto is expected to more than double in 2016, and Rick Stern knows why.
Published on: Nov 9, 2015
Production of high-oleic-oil soybeans is ramping up from the Midwest to the East Coast. In 2015, farmers contracted high-oleic soybean productions for more than 200,000 acres.
That's small compared to what the United Soybean Board expects for 2016 production – close to 450,000 acres. Currently, high-oleic bean contracts area available in 10 states – Delaware, Illinois, Indiana, Iowa, Maryland, Michigan, New Jersey, Ohio, Pennsylvania and Virginia. And, that may increase in early 2016.
Rick Stern, a Cream Ridge, N.J., soybean grower, was confident enough in the high-oleic soybean's food oil potential that he contracted 150 acres of them this year. After recently finishing the harvest, he's doubly certain of the crop's potential.
That's also why DuPont/Pioneer anticipates doubling Plenish soybean production to more than 400,000 acres contracted to soybean processors. Monsanto, too, is staging up market development plans for its own high-oleic Vistive Gold soybeans as processors come on board.
