Hennepin, Illinois
September 25, 2006
Consolidated Grain and Barge Co. (CGB), a leader in the
grain and transportation industry, has announced that it will be
contracting Pioneer® brand low linolenic soybeans for the 2007
growing season through the Bunge
DuPont Biotech Alliance to
provide the food marketplace with TREUS™ low lin soy oil and
support the demand for healthier foods.
CGB will be working with local elevators in northern and central
Illinois along the Illinois River to buy low lin soybeans grown
by producers from seed marketed by
Pioneer Hi-Bred International,
Inc., a subsidiary of DuPont. CGB will be accepting delivery
at its Hennepin, Illinois, and Peru, Illinois, terminals.
Participating local elevator partners will be announced at a
later time.
The crop will be processed by Bunge to meet the growing demand
for low lin soy oil within the food industry. Growers with
interest in this program should contact CGB at 1-800-669-2437 or
contact their local 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 dramatically 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(TM) by the Bunge DuPont
Biotech Alliance. These include leading-edge soy output traits
and products developed and marketed through the Alliance that
delivers premiums to growers and top quality oil products to
companies across the value chain.
"Consolidated Grain and Barge Company is excited to be a part of
the Bunge DuPont Biotech Alliance low linolenic soybean
program," said Dan Aubry, premium grains manager for CGB. "We
are always looking for ways to bring value to our customers and
this program will provide northern Illinois producers with an
opportunity to earn a substantial premium while growing a
quality crop with Pioneer soybeans."
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 elite varieties for
growers to choose from in the CGB program; all of them contain
the Roundup Ready(R) trait.
Growers who sign up to deliver Pioneer low lin soybeans to
participating elevators earn attractive premiums for this
identity-preserved crop. Participating low lin growers can earn
a 40-cents per bushel "buyers call" premium (for on-farm
storage) or a 35-cents per bushel "harvest delivery" premium
(with delivery directly at harvest to participating elevators
offering this option).
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. For more information,
contact your local Pioneer sales professional.
"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 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. The 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.
Bunge North
America, the North American operating arm of Bunge Limited
(NYSE: BG), is a vertically integrated food and feed ingredient
company, supplying raw and processed agricultural commodities
and specialized food ingredients to a wide range of customers in
the livestock, poultry, food processor, foodservice and bakery
industries. With headquarters in St. Louis, Missouri, Bunge
North America and its subsidiaries operate grain elevators,
oilseed processing plants, edible oil refineries and packaging
facilities, and corn dry mills in the U.S., Canada and Mexico.
With its principal offices in Illinois, Consolidated Grain and
Barge Company operates over 70 locations across the US and is a
significant principle in the US grain industry. In addition to
owning/operating a significant number of grain facilities, CGB
operates numerous other related business units including,
stevedoring, soybean processing, barge shipyard repair and
fleeting, transportation services packages involving barges,
railroad and trucking, ocean vessel services along the gulf
coast, and risk management services for US farmers.
Pioneer Hi-Bred International, Inc., a subsidiary of DuPont, is
the world's leading source of customized solutions for farmers,
livestock producers and grain and oilseed processors. With
headquarters in Des Moines, Iowa, Pioneer provides access to
advanced plant genetics, crop protection solutions and quality
crop systems to customers in nearly 70 countries. DuPont is a
science company. Founded in 1802, DuPont puts science to work by
creating sustainable solutions essential to a better, safer,
healthier life for people everywhere. Operating in more than 70
countries, DuPont offers a wide range of innovative products and
services for markets including agriculture, nutrition,
electronics, communications, safety and protection, home and
construction, transportation and apparel.
Pioneer®, TREUS™ and IndustrySelect® are trademarks of Pioneer
Hi-Bred International, Inc.
Roundup Ready® is a registered trademark of Monsanto. |