High oleic soybeans could boast markets and profit margins

High oleic soybeans could boast markets and profit margins

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High oleic soybeans are beginning to make their presence known in the Midwest and could soon boast profit margins for crop farmers who raise them.

Current crop maps show the genetically modified soybeans are already being grown in northwestern Ohio, northern Indiana, extreme East Central Illinois, and in some Eastern States.

The soybean, which is high in oleic oil, is being sought after in several industries. Because the soybean is high in oil, but lower in saturated fats, compared with other stability oils used in food production, it is being used in the food industry. The oil provides extended fry life, it increases stability in food production and has a neutral taste according to researchers, which was stated on the United Soybean Board's website.

The soybean was approved for global use in 2017.

Oils from the high oleic soybean are also being used in producing a greener asphalt. From products to coat existing asphalt surfaces to use in manufacturing a greener asphalt, the results have been positive. The bean’s oil can also be used is manufacturing shingles.

One of the downsides to growing the high oleic soybean is the current lack of processing facilities that can take the bean. As demand for the oleic oil increases, more processing facilities will be built.

Officials believe if the demand for the oil increases, American farmers could be planting 16-million acres of high oleic soybeans by 2026.

Growers of the oleic soybean say they have not had to change any of their current soybean growing practices to accommodate the soybeans and yields are the same or better than the soybeans they currently grow.

It has been reported premiums are being paid for high oleic soybeans in 11 states.

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