HENNEPIN, Ill. -- Consolidated Grain and Barge Co. will be contracting Pioneer(R) brand low linolenic soybeans for the 2007 growing season through the Bunge DuPont Biotech Alliance to provide the food marketplace with TREUS(TM) 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, Ill., and Peru, Ill., 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 a 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, 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, 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 more than 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.



SOURCE: Pioneer Hi-Bred International Inc. via PR Newswire.