Indiana soybean farmers who deliver soybeans to Consolidated Grain & Barge (CBG) at Mt. Vernon, Ind., or the Bunge plant at Danville, Ill., can participate in the Soybean Quality Rewards (SQR) program in 2006 and receive premiums for higher oil and protein content.

Sponsored by the Indiana Soybean Board (ISB), Illinois Soybean Association (ISA), Consolidated Grain & Barge, and Bunge, farmers who deliver soybeans to CGB/Mt. Vernon, Ind., or Bunge, Danville, Ill., can receive up to 6 cents more per bushel when their beans meet the minimum oil content. The program is designed to encourage Indiana and Illinois farmers to meet the growing demand for soybeans with increased protein and high levels of oil.

ISB President Mark Seib, Poseyville, says the program is in response to international soybean buyers asking for U.S. soybeans with higher oil and protein content. “The SQR program is the type of marketing effort we need to adopt if we’re going to compete effectively with soybeans grown in South America,” adds Seib.

According to Seib, there are no variety restrictions and farmers may use biotech-enhanced or conventional soybean varieties. Farmers can grow any variety that they expect will deliver targeted levels of protein and oil. Beans need a minimum 19.2% oil content and 35.5% protein to be eligible for premiums. When farmers deliver their harvested beans, each load will be tested. If a farmer’s beans don’t meet the minimum content levels, there’s no penalty. Farmers will receive normal market price.

Farmers delivering to Bunge/Danville, Ill., plant need to sign up their acreage through their Bunge grain merchandiser. No sign-up is needed to participate in the CGB program.

Farmers can learn which varieties may deliver the desired amounts of protein and oil by contacting their seed dealer or by consulting the free Varietal Information Program for Soybeans (VIPS) database at www.vipsoybeans.org.

More information on Soybean Quality Rewards is available from Melanie Batalis, ISB grain marketing director at 800-735-0195.

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