Pricey GMO Soy Seeds Lose Luster as Farmers Hunt for More Profit
- Some U.S. farmers quit gene-modified seeds for premium niche
- Soybean futures languish amid bumper harvests, trade turmoil
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For the first time in 15 years, Illinois farmer Steve Ruh will plant only old-school soybean seeds to boost profit in a premium niche market, abandoning the popular genetically modified varieties.
“Margins are so tight you are looking for anything you can to generate more dollars per acre,” Ruh, 50, said in a telephone interview from Sugar Grove, Illinois. Soybean futures in Chicago have slumped as much as 25 percent from a peak in March as China, embroiled in a trade war with the U.S., opted for Brazilian supplies following bumper crops in the Americas.