While many farmers are focusing on declining soybean prices, Maryland farmer Steve Moore is focusing on his declining transportation costs. That’s because, for the third year, Moore is growing high oleic soybeans.
“I choose to plant high oleic because the delivery point is close,” says Moore. “A local elevator opened up just to accept high oleic soybeans, decreasing my transportation costs for these soybeans.”
With the premium that Moore already receives for high oleic, the added benefit of a local delivery option made the profit potential even more attractive.
For many, this may come as a surprise.
Concerns about needing to store soybeans on-site or traveling long distances to make deliveries prevents them from taking the plunge.
But Moore is proof that these ideas are fiction, not fact, at least for him.
“I actually have to go farther to deliver my commodity soybeans than I do the high oleic,” he says. “Especially with today’s prices, every mile makes a difference.”
And because of the high demand, Moore never has to wait to make deliveries.
“My local crusher wants all the high oleic soy it can get,” he says. “The market potential is impressive.”
If more farmers plant high oleic, that’s a demand they can meet. That’s because high oleic soybeans are bred to yield the same as other varieties on the market.
Combining all these benefits – yield, premium, local delivery, high demand – gives Moore the confidence to continue growing high oleic.
“My acreage of high oleic will keep climbing every year,” he says.