Specialty soybeans get separate crop insurance treatment
On the cover of its Feb. 6 issue, Iowa Farmer Today reported farmers who grow specialty soybeans will be able to separate that crop from their conventional beans for insurance purposes this year.
William Edwards, Iowa State University economist was quoted in the article, saying the separation could benefit farmers, as traditionally, some specialty soybeans had a yield drag. Separating those beans out will create a higher actual production history (APH) on conventional soybeans for farmers, and therefore, a higher revenue guarantee.
Edwards thought farmers could provide documentation and apply the separation to previous years, the article stated.
The following soybeans are included in the provision:
- Large-seeded food grade — Soybeans commonly used for tofu, soymilk and miso
- Small-seeded food grade — Soybeans commonly used for sprouts or for natto soybeans
- Low-linolenic acid — Soybeans used to produce soybean oil with a linolenic acid level of 3 percent or less
- Low-saturated fat — Soybeans containing 50 percent less saturated fat than conventional soybeans
- High protein — Soybeans containing protein levels of 43 percent or greater
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