Ag Processing and Monsanto Partner on High Oleic Soybean Pilot Introduction
25 Aug 2015 --- Ag Processing Inc (AGP) has announced that it will participate in the 2016 pilot introduction of Monsanto’s Vistive Gold high oleic soybeans. They are the first processor to offer Iowa growers the opportunity to increase soybean profit potential with Vistive Gold high oleic soybeans. The new soybeans were developed with input from leading food companies over the last decade and offer an improved nutritional profile with zero trans fats and reduced saturated fats that the food industry and consumers are currently demanding.
AGP will partner with two member cooperatives near its Manning, Iowa plant – Farmers Cooperative Elevator Co., Arcadia and Aspinwall Cooperative Company, Aspinwall – to offer premiums of 80 cents per bushel for on-farm storage and 70 cents per bushel for harvest delivery to farmers who grow Vistive Gold soybeans under contract. The soybeans will then be processed at AGP’s processing plant in Manning and the high oleic oil marketed to interested food manufacturers. AGP and its participating cooperative members will be contracting with Iowa growers on a first-come-first-serve basis.
“AGP is excited about our partnership with Monsanto, local cooperative members and soybean producers in this new opportunity to add value to soybeans and introduce new technology to the industry,” said Mark Sandeen, Vice President, Processing Marketing. “We look forward to working with our partners and food customers as Vistive Gold oil is introduced to the marketplace.”
The new soybeans will bring the opportunity for nutritionally improved cooking oil for consumers and food companies. Compared to other cooking oils, Vistive Gold also has improved oxidative stability, which reduces buildup on frying equipment and extends its oil fry life. This is important not only for reducing cost but also reducing residues, which can help to make restaurant operations more efficient and sustainable. In addition, the oil profile of Vistive Gold soybean oil has 60% less saturated fat than commodity soy, delivers the same great taste and texture that people expect from cooking oils, and has a shelf life that is equal to or better than traditional oils.
“We are excited to bring Vistive Gold soybeans to farmers in Iowa, and see this as a great opportunity for farmers to maximize their soy acre profit potential,” said Sarah Vacek, Monsanto soy product quality traits manager. “Because Vistive Gold soybeans are built on the Roundup Ready 2 Yield platform and feature enhanced breeding and agronomic packages, farmers will see the same yield advantage they have come to expect with their standard Monsanto varieties.”
Vistive Gold soybeans also bring opportunity for the soybean industry as a whole in Iowa. “The Iowa Soybean Association looks forward to working with AGP, Monsanto and Iowa soybean growers to expand the production of high oleic soybeans in Iowa,” said Iowa Soybean Association Chief Executive Officer Kirk Leeds. “High oleic soybeans are critically important as we recapture market share in the food sector that’s been lost due to concerns about trans fats.”
Leeds also believes that high oleic soybeans could be of great value in industrial applications as well. “We encourage soybean farmers to take a look at high yielding Vistive Gold varieties and to consider becoming a partner in this important effort to expand demand for soybean oil.”
Vistive Gold field trials have taken place for three seasons in Indiana, Michigan and Ohio through Monsanto’s Ground Breakers program and growers report successful on-farm performance with the varieties. Ground Breakers trials provide farmers with first-hand experience with pipeline products under commercial-scale planting conditions. This program combines full-field and small-scale approaches to optimize farmers’ experiences, training and education opportunities. Monsanto continues to make progress toward commercial introduction of Vistive Gold soybeans in 2016.
