While many discussions around soybeans focus on low prices and trade challenges, there’s a bright spot in the U.S. soybean market: food-grade soybeans. This sector is flourishing both domestically and abroad.
SB&B Foods collaborates with farmers in the Upper Midwest to grow unique, non-GMO soybean varieties that meet specific customer demands. They don’t just deal in generic soybeans; they ensure each type is kept separate to maintain its unique flavor and quality. Scott Sinner, SB&B’s supply chain vice president, emphasizes, “We sell varieties of non-GMO soybeans. Each variety affects the taste differently.”
Unlike ordinary commodity soybeans, food-grade beans are sold at a premium, providing farmers with more financial security. Key markets for these beans include Japan, Taiwan, and several Southeast Asian nations, all of which currently have no tariffs on U.S. imports. Interestingly, Sinner pointed out that they haven’t sold soybeans to China in over 35 years, highlighting the strong demand for soybeans in Asia.
Looking forward, there’s even more potential for growth. The use of GLP-1 medications, which promote weight loss, has increased interest in high-protein foods like tofu. This has significantly boosted sales, with U.S. sales at SB&B rising by an impressive 400% last year. With both strong international demand and a growing domestic market, food-grade soybeans are proving to be a resilient choice for farmers navigating today’s complex agricultural landscape.
As the soybean industry adapts, this segment shows promise for both growth and stability. For more information on market trends and impacts, you can explore reports from the United States Department of Agriculture (USDA) and other relevant sources.
