Margins have become so tight that some U.S. farmers are turning away from the latest popular GM seeds in favor of premium niche varieties.
Since March of last year, soybean premiums in Chicago have fallen by 25 percent as the trade war between China and the U.S. continues. Concurrently, in 2018, U.S. farmers saw another decline in net income while costs increased by 4.2 percent, according to government data.
Amid these conditions, U.S. farmers are trying any course to realize more dollars per acre, and are opting for conventional soybean seed varieties, which average $39 per bag, compared to GM soybean seeds, which cost an average of $54 per bag. Besides the lower price, the switch is also being driven by higher demand as consumers are increasingly looking for foods made with non-GMO ingredients.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at email@example.com.