March 28, 2024

Processing firm sees high demand for specialty soybeans

CHAMPAIGN, Ill. — Global demand for organic and non-GMO soybeans continues on an upward spiral, and the new high oleic soybeans provide additional opportunities for farmers.

Representatives from Global Processing, headquartered in Kanawha, Iowa, were on hand at the recent University of Illinois Agronomy Day to hear details of the new SOYLEIC high oleic non-GMO soybean varieties that are near launch in the Midwest.

Global Processing’s facility is equipped with the latest in sorting and sizing technology to ensure a high-quality supply of raw whole non-GMO soybeans delivered directly to food manufacturing operations.

The facility is designed and operated to continually guarantee variety purity and quality. Its bagging and bulk loading operation minimizes stress on the soybeans and prepares the commodity for local, national and international destinations in shipping containers.

Mark Albertson serves as the company’s director of global aquaculture and strategic initiatives. Albertson was Illinois Soybean Association director of strategic market development and served as interim CEO before moving on to Indigo Ag and then to his current post.

Albertson noted the opportunities for soybean growers in an interview during Agronomy Day.

“Global Processing is a small, but quickly growing company. We specialize in ag products that are the niches — so, for instance, organic soybeans that are used for tofu or soy milk, non-GMO soybeans for tofu and soy milk, and also high oleic soybeans and waxy sorghum, and we’re exporting all of these products overseas. We do have some domestic customers, as well,” Albertson said. “We specialize in high quality ag products that we clean and bag and export in shipping containers.”

What is the logistics in terms of farmers delivering their organic, non-GMO or high oleic soybeans to your facilities?

“Most of the soybeans we buy are in Iowa, but we also buy some in Minnesota, Missouri and Illinois, as well. Especially organic, if we can find more organic farmers we want hear from them because organic soybeans are in short supply right now.

“We just bought two plants in central Nebraska and one in western Nebraska. Our main plant is in northern Iowa in Kanawha, and we are getting ready to buy two facilities in north-central Iowa. One of them is a soy processing plant.”

What is the outlook for demand?

“We’ve seen double-digit demand growth for both organic and non-GMO soybeans in the U.S. Organic, in particular, has been interesting because the organic soybeans that the U.S. normally import from India are no longer viable because there has been some questionable organic certificates coming out of India. So, now no one is accepting organic soybeans from India. That puts everyone in a big shortage.

“In addition, there have been some organic soy companies who have discontinued operating and so they don’t have the supply they used to have, as well. There’s a huge shortage on organic right now. The premiums are through the roof.

“We cater to the export demand that continues to grow year after year for non-GMO and organic. Most of the volume that we handle is in non-GMO and those soybeans typically go to Japan. We’re starting to do a lot more in South Korea, Indonesia and other places in Southeast Asia.”

What do you see going forward in terms of the high oleic soybean market?

“The high oleic business is the most exciting business that we’re getting into right now. We are contracting with farmers to grow high oleic soybeans. Our particular varieties are non-GMO and there are some great premiums right now for those varieties. So, I think farmers who are willing to try something new should take a look at high oleic soybean oil.

“We’re here at this event working with the Missouri Soybean Association and the Illinois Soybean Association who have been involved with high oleic soybean oil.

“Without the checkoff, high oleic soybean oil wouldn’t exist, just like biodiesel. This is a very tangible way that the soybean checkoff is able to bring back higher prices to soybean farmers especially if they’re willing to be open-minded and think outside the box.

“Right now, high oleic is used primarily on a commercial scale by restaurants and other factories that produce prepared foods. The great thing about high oleic is that it has an oil profile that’s very similar to olive oil. So, it’s much healthier than soybean oil or most other oils out there.

“It also has a better oxidative stability which means that when you fry foods in high oleic soybean oil you don’t have to change the oil as often. You can continue to use the same oil two and three times as long as regular oil and it also allows for a better shelf life.”

Tom Doran

Tom C. Doran

Field Editor