September 12, 2006

DuPont and Bunge expand low-linolenic soybean acres in the US

Agri-giants DuPont and Bunge are hoping to draw more mid-western farmers in the US to grow its low linolenic soy by offering premiums at the point-of-sale.

The Bunge DuPont Biotech Alliance has liased with selected elevators throughout the region to offer up to a 40-cent-per-bushel premium for low-linolenic soybeans from Pioneer Hi-Bred International, Inc.

This is the third year of the programme. From Iowa in 2005, the programme has expanded into eight states for the 2007 growing season to include Iowa, Illinois, Indiana, Ohio, Michigan, Wisconsin, Pennsylvania and Missouri.

Growers who sign up to deliver Pioneer low-lin soybeans can earn a 40-cents per bushel "buyers call" premium when they store the soy on the farm or a 35-cents per bushel "harvest delivery" premium when they deliver directly at harvest to participating elevators.

Growers can also collect a 10-cents per bushel early signing bonus. Contract growers can also earn up to a 10 percent rebate on approved DuPont Crop Protection products used on their acres.