What Can You Expect to Pay for Corn and Soybean Seed Traits?
At Farmers Business Network℠, we are working to put buying power back into the hands of farmers like you. One of the ways we do this is by using anonymized data contributed by FBN members to deliver increased seed price transparency and report on industry practices like seed relabeling.
Here’s the story that unfolded when we looked at reported seed prices for corn and soybeans
The average reported price for corn seed remained fairly consistent year-over-year in 2019, coming in at a $305 per bag list price ($244 per bag after discounts). Member-reported prices for traited products remained roughly the same between 2018 and 2019 as well.
But as you can see below, the price member farmers paid for conventional corn seed lowered in price further in 2019 and continued to sell for $100-150 less per bag than traited hybrids.
For soybeans, the average reported price per bag also stayed consistent with the previous year, but individual traits and trait stacks saw some variation.
Member-reported prices for glyphosate-tolerant (GT) soybeans dropped below $30 per bag. And with the exception of LibertyLink® GT27TM (LLGT27), other traited varieties also lowered, albeit incrementally, in average reported price.
New opportunities are changing the seed landscape for FBN members
Our primary observation here is that the overall cost of seed has remained high, which makes breaking even a challenging proposition for farmers given current market trends for corn and soybeans.
But a secondary takeaway is that FBN members took advantage of new seed offerings available on the market in 2019. It was the first year we sold F2F Genetics Network™ seed, which was planted on nearly 1,000 member farms across the U.S.
The introduction of F2F Genetics Network conventional corn hybrids that sold for as low as $99 per bag in 2019 and competitively priced GT soybean varieties available to members clearly played a role in lowering average reported prices for those seed varieties in particular.
Roundup Ready 2 Yield®, Roundup Ready 2 Xtend® and SmartStax® are registered trademarks of Monsanto Company. LibertyLink® is a registered trademark of BASF. GT27™ is a trademark of M.S. Technologies, L.L.C. Enlist™ E3 is a trademark of Dow AgroSciences LLC. Optimum® AcreMax® and Optimum® AcreMax® Xtreme are registered trademarks of Pioneer. VT Double PRO® and VT Triple PRO® are registered trademarks of Bayer Group. F2F Genetics Network™ is a trademark of Farmer's Business Network, Inc.