October 2, 2014

QualiSoy Offers Tool To Decide If Identity Preserved Soybeans Are For You

Facing lower soybean cash prices this year, farmers are looking for opportunities to add to their bottom lines. Growing identity-preserved (IP) soybeans is one option for additional profit opportunities, but the costs can seem overwhelming to farmers thinking about getting started.

U.S.-soy-industry-led board QUALISOY developed a calculator that can help farmers determine how much profit they can add by growing IP soybeans, including high oleic varieties.

The calculator, based on a Purdue University study, helps farmers navigate the typical steps required to produce and segregate IP soybeans and gives them an estimate of added profit potential. The United Soybean Board’s Value Task Force funded the study.

“The charge of the Value Task Force is to try to find the next big thing that could really create opportunities for soybean farmers, and we feel that there is a lot of opportunity in IP soybeans,” says Dan Corcoran, a soybean farmer from Piketon, Ohio, and chair of the Value Task Force. “Whether a farmer has ever grown IP soybeans before or not, this tool will help determine the potential value that is out there.”

This calculator, available for use on http://soyinnovation.com/inputs-handling/, also gives a quick look into the limited costs associated with growing IP or high oleic soybeans.

“The soybean calculator is easy to access and has straightforward questions,” says Corcoran. “It takes you on a logical path to get a basis for non-IP products and what it takes to deliver a crop. Then it goes into the additional costs and revenue associated with growing IP soybeans.

“This tool helps you make an educated business decision by removing a large amount of guesswork. It gives soybean farmers a good overview of exactly what we need to invest when we choose to grow IP.”

Right now, opportunities available for soybean farmers to grow IP include non-GMO, food-grade and high oleic soybeans. However, high oleic soybeans have easier handling procedures compared with other IP soybeans. The calculator takes those factors into consideration when delivering its results.

“With the current state of soybean prices, it is important for soybean farmers to grow a product that has increasing demand,” concludes Corcoran. “This concept of growing a product that customers are demanding is beneficial for farmers in general.”

The 70 farmer-directors of USB oversee the investments of the soy checkoff to maximize profit opportunities for all U.S. soybean farmers. These volunteers invest and leverage checkoff funds to increase the value of U.S. soy meal and oil, to ensure U.S. soybean farmers and their customers have the freedom and infrastructure to operate, and to meet the needs of U.S. soy’s customers. As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.


North Dakota Soybean Council Sponsors International Trade Teams

Soybean buyers and processors from Singapore, Indonesia, Thailand, Philippines, and Vietnam will be in the Red River Valley this week, attending the Soybeans Procurement Management for Importers course at the Northern Crops Institute.  The course is sponsored by NCI, as well as the North Dakota Soybean Council, U.S. Soybean Export Council, the Northern Food Grade Soybean Association, and the Minnesota Soybean Research and Promotion Council

The course is designed to give participants an overview of the quality characteristics of U.S. northern grown soybeans as well as the intricacies of buying, handling, and shipping food grade soybeans out of the region.

Participants will tour farms and other locations in the Red River Valley during the week and will be split into two groups, each with a separate focus. The tours will begin on Tuesday after both groups attend an all participant session Monday at NDSU’s Commodity Trade Room.

Food grade buyers will visit Brushvale Seed of Breckenridge, MN, Richland IFC of Dwight, ND, SB & B Foods of Casselton, ND, SK Foods Specialty Processing of Moorhead, MN and SunOpta of Moorhead.

As for the feed grade buyers, they will tour the Northern Crops Institute’s feed mill, Alton Grain Terminal and the Peter Lovas farm near Hillsboro, ND, and the Colfax Farmers Elevator and the Jay Myers Family farm near Colfax, ND.  Additionally, the feed group will tour NDSU’s Ag Experiment Station Research Greenhouse complex.  The ND Soybean Council staff will be on hand to answer any questions the international guests have and promote soybeans grown in North Dakota.

A supper for all will be hosted Tuesday evening at the Bill & Karolyn Zurn Family Farm at Callaway, MN.  Any questions can be directed to Stephanie Sinner of the ND Soybean Council


Cargill Sues Syngenta Over MIR 162 Trait

Cargill, Inc has filed suit against MIR 162 trait maker Syngenta Ag, alleging that Syngenta’s push to sell corn seeds with the modified trait known more popularly as Agrisure Viptera cost them millions.

Cargill filed the lawsuit in Louisiana State Court on Friday seeking damages.  The suit alleges Syngenta acted with negligence, unfair trade practices, and knowning, willful misconduct.  Cargill reasons that by selling the seeds to U.S. farmers before it had secured Chinese approval for imports of corn from that trait, Syngenta’s actions cost them, and the ag economy in general, millions of dollars.  More specifically, they say Syngenta’s actions contributed to a 28% decline in its quarterly earnings.

Syngenta has responded by saying the lawsuit is without merit and that U.S. farmers badly need the new trait to fend off insects that have grown resistant to commonly used pesticides and that U.S. farmers shouldn’t have to rely on the Chinese government to determine which products they can use.

The Agrisure Viptera trait has been sold with approval in the U.S. since 2011 to producers in the U.S., Argentina, and Brazil with government approval.  China did not start rejecting corn for containing the trait until November of 2013.  Syngenta says the MIR 162 trait was submitted government approval in China back in 2010.