High Conventional Soybean Prices Lead to Lower Non-GMO Acres Harvested

High Conventional Soybean Prices Lead to Lower Non-GMO Acres Harvested

 

Planted acres of non-GMO soybeans declined in the current marketing year. The US Soybean Council forecasts that non-GMO soybean acres declined by 12% year over year and is expected to decline further in 2022 by an additional 7%. Most of the decline is attributed to elevated conventional prices.

Despite the higher cost of seeds for traditional soybeans, the gains have outweighed the costs. Despite non-GMO soybeans receiving a premium over conventional between $1.75-$2.25 per bushel, the percent premium has declined as the price of conventional soybeans has climbed.

In the current marketing year, the yields of non-GMO soybeans also increased by approximately 6% to 50.2 bushels per acre. Of the farmers that produce non-GMO soybeans, about 38% of their crop is non-GMO crops. Food grade non-GMO soybeans represent approximately 25% of the non-GMO soybeans planted, which means that most non-GMO soybeans are used for feed production.

The survey conducted…

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