Low commodity soybean prices, attractive premiums, and rising prices for genetically modified soybean seed are leading American farmers to plant more acres of non-GMO soybeans this year.
Grain buyers report that acreage increases are expected for both generic commodity non-GMO soybeans and specialty food-grade varieties.
Besides the higher non-GMO premiums, there are other reasons for the increasing acreage of non-GMO this year. It’s cheaper for farmers to plant non-GMO beans if they can limit their inputs and still capture a good price for their production” .With high inputs costs for seed, fertilizer, and herbicide, farmers are seeing the benefits of lower costs associated with putting in a non-GMO soybean crop compared to corn. The organic food industry is also spurring demand for non-GMO soybeans. Organic food companies are switching to non-GMO soybeans until prices for organics drop and the economy improves.PSI successfully delivering the premium quality soy beans to our customers around world.