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Central Iowa | Like others have said I would be real careful. All of the dirty details are in the contract, every word needs to be understood before you sign.
Growing them is the easy part, it starts to get difficult when it comes time to harvest. The weather, which you have no control over may change the quality of the beans to feed grade. Then there always seems to be yield drag. There is a reason food grade beans have a higher premium.
I grew food grade beans in 2016 for a company out of Oskaloosa, I planted their seed which was very poor quality. I was fortunate to not have any loads rejected, but the yield drag cancelled out the premium.
I'm not saying it won't work, just be careful. Growing non-GMO feed grade has less premium, but is a safer way to go, IMO.
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Food grade soybeans
