Premium prices are luring farmers to non-GMO soybean production

Sinner Brothers and Bresnahan supplies natto, soy milk, and tofu markets in Japan with Midwest-grown soybeans

Non-GMO and organic soybean varieties are offering very attractive returns for Midwest growers, notes Scott Sinner of SB&B of North Dakota. The surge boasts the greatest returns he’s seen in two decades—food-grade soybean prices ranging from $2.75 a bushel up to $4 a bushel.

“As a farmer, you have the ability to be a price maker, not a price taker,” Sinner says. He hopes more farmers in the Dakotas, Minnesota, and Wisconsin will consider adding non-GMO soybeans. “We’re working primarily in the natto market in Japan, the soy milk market in various countries around the world, as well as in the tofu and miso markets,” he added.

For over 70 years, SB&B has contracted with growers from territories spanning Bismarck, ND to Green Bay, WI and from Canada to Iowa to supply overseas customers. More opportunity grows every year for local farmers. SB&B growers include small hobby farmers as well as large operations; two production facilities process the harvests.

“The biggest thing we look for is attitude…delivering a food product that [the] end user can be proud of,” noted Sinner. “We’ve got enough varieties in our variety guide that we can find a seed that’s going to work on the ground that the farmer has.”

In addition, the farmer gets to meet the buyer, further incentivizing that motivation for high quality product—“a very unique experience that a lot of farmers don’t get,” Sinner commented.

Source: Farm Progress

To view source article, visit:
https://www.farmprogress.com/soybean/food-grade-soybeans-gain-interest-premiums

Organic & Non-GMO Insights April 2024