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Illinois grain company announcing soybean contracting opportunities
Illinois Correspondent

HENNEPIN, Ill. — Consolidated Grain and Barge (CGB) Co. will work with elevators in northern and central Illinois along the Illinois River to buy low-linolenic soybeans grown by producers from seed marketed by Pioneer Hi-Bred.

CGB will accept delivery at its Hennepin, Ill. and Peru, Ill. terminals for the 2007 growing season. Participating elevator partners will be announced at a later time.

The agreement is made through the Bunge DuPont Biotech Alliance to provide the food marketplace with TREUS ™ low-lin soy oil to support the demand for healthier foods. The low-lin soy oil is lower in trans-fat than other soy oils.

Growers with interest in this program should contact CGB at 1-800-669-2437 or a Pioneer sales representative.

This announcement marks a further expansion of the Bunge DuPont Biotech Alliance low-lin soybean contracting program. The alliance recently announced it was expanding contracted acres for 2007, reaching into eight states, including Iowa, Illinois, Indiana, Ohio, Michigan, Wisconsin, Pennsylvania and Missouri.

Low-lin soy oil is part of an expanding platform of soy products launched under the brand name TREUS by the Bunge DuPont Biotech Alliance. These include soy output traits and products developed and marketed through the alliance that delivers premiums to growers and oil products to companies across the chain.

Low-lin soybeans feature oil with a linolenic acid profile of less than 3 percent and offers a better natural stability and increased shelf life. Low-lin oil eliminates the need for partial hydrogenation, which creates trans fats. Low-lin oil supports the efforts of food companies to reduce or eliminate trans fats from their products.

Participating growers can earn a 40-cent per bushel premium for on-farm storage or a 35-cent per bushel harvest delivery premium with delivery directly at harvest to participating elevators.

In addition, growers can collect a 10-cent per bushel early signing bonus. Contract growers are eligible to earn up to a 10 percent rebate on approved DuPont Crop Protection products used on their 2007 Pioneer low-lin soybean contract acres. Producers can also take advantage of traditional marketing options available with other soybeans.

“We’re very excited about expanding low lin soybean contracting through CGB in this significant soybean production area in northern and central Illinois,” said Troy Hobbs, business manager, Bunge DuPont Biotech Alliance. ”This is great news for growers seeking greater income through premiums and the food processors seeking alternative oils.”

The 2007 growing season marks the third consecutive year that Pioneer has marketed low-lin soybeans through the Alliance, though Pioneer has been breeding low-lin soybeans since the early 1990s. Pioneer will offer several varieties for growers to choose from in the CGB program; all contain the Roundup Ready trait.

This farm news was published in the Sept. 27, 2006 issue of Farm World, serving Indiana, Ohio, Illinois, Kentucky, Michigan and Tennessee.