Premiums paid to farmers for growing Plenish soybeans

JOHNSTON, Iowa — Plenish soybeans offer benefits to both farmers and consumers.

“Our purpose statement is to enrich the lives of those that produce and those that consume,” said Roger Theisen, Plenish soybeans marketing manager. “This is a great example of how technology has brought a better product for consumers.”

Plenish soybeans have been available for farmers to grow for the past 10 years.

“Today they are grown in 16 states across the country and the majority are through the Corn Belt and into the eastern U.S. and we’re looking to expand that footprint,” said Theisen during the Get Ready for the Future of Farming — Corteva Agriscience Summer Media Day.

Due to consumer demand, Theisen said, the demand is increasing from food companies for the healthy soybean oil product.

“The food industry is faced with a consumer that looks a lot different than 10 years ago and really a consumer that is different than pre-COVID,” he said. “COVID has changed a lot of things and made us aware of what we’re putting in our bodies.”

The high oleic Plenish soybeans address some of the concerns expressed by consumers.

“Whether it’s around locally-grown ingredients since these are grown in geographies where the processing facilities turn them into oil, or if it’s speaking to food waste because the quick service restaurants don’t have to change their fryers as often because the oil is lasting longer,” Theisen said.

In addition, Plenish oil also offers enhanced healthfulness with zero trans fat.

“Taste is really important to us so we’re not going to sacrifice taste for something else,” Theisen said. “This product will allow us to still experience the taste we demand from food manufacturers.”

Farmers can choose from 15 varieties of Plenish soybeans that range from 2.1 to 4.8 maturity.

“These products are made with our A series genetics,” Theisen said. “Last year we saw a 2.2 bushel yield advantage to our competitors with Plenish soybeans.”

There are a lot of variable soil conditions across the area where Plenish soybeans are grown by farmers.

“We’ve got to have the defensive characteristics and yield potential in these products for growers to want to plant them,” Theisen said.

The one difference for growers of Plenish soybeans is they are an identity preserved product.

“A grower must have separate storage to be able to deliver them to a facility at specific times,” Theisen said. “Otherwise the herbicide programs are the same as other soybean products — we recommend overlapping residuals and multiple mode of actions to control weeds.”

For this harvest season, there are five processors that will process the Plenish soybeans into soybean oil.

“There are about 62 delivery locations that will receive Plenish soybeans,” Theisen said.

“Because it’s an IP product, processors are paying growers a premium of 50 to 75 cents for the Plenish soybeans,” he said. “It is variable depending on the processor and the location.”

Processors are working on developing the Plenish soybean program for the 2022 growing season.

“The 2022 program will be announced by early August including the locations, premiums and allocations for the amount of acres they are going to receive,” Theisen said.

“I need more farmers to be aware of this program,” he said. “Growing Plenish soybeans allows the U.S. soybean grower to expand his options and differentiate his income.”

In addition to the food industry, demand for Plenish soybeans is also increasing from the dairy industry.

“Dairymen are roasting the beans and using them as part of their protein supplement for their dairy ration,” Theisen said.

Demand for Plenish soybeans is also coming from industrial uses.

“Plenish oil is kicking out some of the synthetic oils,” Theisen said. “This year farmers planted close to half a million acres of Plenish soybeans.”

For more information Plenish soybeans, go to www.pioneer.com.