What is in this article?:
- Jim Carroll, USB member and Arkansas producer, addresses 2014 Tri-State Soybean Forum.
- Reports on check-off funding.
- Marketing opportunities for soybeans expanding to tire industry and high oleic oil.
JIM CARROLL, ARKANSAS producer and USB member, provided a report on check-off funds and emerging soybean markets at the Jan. 3 Tri-State Soybean Forum in Dumas, Ark.
High oleic oil
There is a move towards high oleic soybean oil, which will secure producers more markets.
“The old soybean oils don’t fry well or do well in baking goods because they must be hydrogenated. The high oleic oil is supposed to alleviate those problems. It will fry at higher temperatures and can be used in baking. It will also be healthier for us.”
Carroll reported that the USB took a vote to facilitate sending two big companies to promote high oleic oil “so we can get overseas approval. I didn’t think two companies should be the only ones involved in the high oleic.”
Grover Shannon, University of Missouri soybean breeder, “stepped up with his group of geneticists,” said Carroll. “They’ve had high oleic for some time but there wasn’t a market. Shannon’s team got a little over $1 million to promote (the high oleic). So, now we have three entities working in the high oleic field.
“From what I’ve seen, high oleic oil is very well suited for industrial use -- motor oils and cutting applications. It’s exciting.”