Last spring, for the first time in 20 years, Indiana farmer Jim Benham planted his fields entirely with soybean seeds that hadn’t been genetically modified to withstand herbicides.
It wasn’t because the 63-year-old suddenly had embraced the anti-GMO movement. Instead, he was drawn to a nearly 14% per-bushel premium for non-GMO soybeans offered by a local grain terminal, which sells them to Asian feed processors.
Mr. Benham is among a small but growing number of Midwestern farmers moving away from biotech seeds developed by Monsanto Co. , DuPont Co. and other companies in response to lower crop prices over the past two years that have slashed farm profits.
More U.S. consumers are seeking out non-GMO foods, which proponents perceive as healthier and friendlier to the environment. Retail sales of GMO-free cereal, salad dressing, eggs and other food products increased 15% to $9.6 billion last year, among the fastest-growing U.S. food segments, according to market-research firm Nielsen NV. Nielsen sharply increased its non-GMO food sales estimate last year after incorporating a broader range of products and stores….
By Jacob Bunge – Wall Street Journal –