DES MOINES, Iowa- Pioneer Hi-Bred, a DuPont business, and Archer Daniels Midland Company (ADM), announced that ADM will contract for PlenishTMhigh oleic soybeans in 2012 with the intention of marketing the high oleic soybean oil for use by the food industry in 2013.
ADM is inviting soybean growers in the Frankfort, Ind., area to contract with ADM to produce PlenishTMhigh oleic soybean for the 2012 growing season. Farmers will receive a processor paid incentive for producing and delivering these soybeans, with an additional stewardship incentive available for this growing season.
"ADM looks forward to working closely with Frankfort-area growers to produce PlenishTMhigh oleic soybeans for continued product testing. Farmers trained in growing specialty crops under identity preserved conditions are especially well-suited for this exciting opportunity." said Matt Hartman, ADM's commercial manager, Frankfort, Ind.
"We continue to see solid results in the field and strong interest from food companies looking for a soybean oil with consumer benefits and functionality," said Brad Lance, business director at Pioneer Hi-Bred. "This contract program allows our partners to continue testing and development with PlenishTMhigh oleic soybean oil."
Pioneer has extensive experience in implementing and managing identity preserved programs. All acres of PlenishTMhigh oleic soybeans grown in 2012 will be grown under contract with trained growers, with strict stewardship plans in place. All growers are required to follow mandatory stewardship procedures.
Pioneer is the first to market a high oleic soybean that will provide an alternative solution for food companies and foodservice operators and new market opportunities for Indiana soybean growers. PlenishTMhigh oleic soybeans from Pioneer contain the highest oleic content (more than 75 percent) of any soybean product under commercial development. This significantly increases the stability of the oil and provides greater flexibility in food applications. PlenishTMhigh oleic soybean oil has 0g trans fat per serving and 20 percent less saturated fat than commodity soybean oil, making it a more attractive ingredient for consumer food products.
Pioneer has launched the high oleic soybean trait in its industry-leading lineup of Pioneer®brand Y Series soybean varieties, and field testing has confirmed yields on par with elite commercial products.
The U.S. Food and Drug Administration (FDA) completed its review of PlenishTMhigh oleic soybeans in 2009 and the U.S. Department of Agriculture (USDA) deregulation in June 2010 allows PlenishTMhigh oleic soybeans to be grown under contract for ongoing field-testing in the United States and additional oil testing by major oil processors and food companies. Regulatory submissions for the trait also have been submitted to key soybean-importing countries around the world. Processing of the 2012 production is anticipated to occur in 2013 following global regulatory approvals.
Every day, the 30,000 people of Archer Daniels Midland Company (NYSE: ADM) turn crops into renewable products that meet the demands of a growing world. At more than 265 processing plants, ADM converts corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. ADM operates the world's premier crop origination and transportation network, connecting crops and markets in more than 75 countries. Global headquarters are in Decatur, Ill., and net sales for the fiscal year ended June 30, 2011, were $81 billion. For more information visit www.adm.com.