Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   

Agricultural News


Calyxt Announces Sale of Entire 2020 Grain Production to ADM

Tue, 15 Dec 2020 08:56:43 CST

Calyxt Announces Sale of Entire 2020 Grain Production to ADM Calyxt, Inc. NASDAQ: CLXT, a plant-based technology company, announced today that it has contracted to sell all 2020 grain production of its high oleic soybean to ADM (NYSE: ADM), a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company headquartered in Chicago. The transaction is a key step in Calyxt’s 2020 transition to an advanced go-to-market strategy focused on providing plant-based innovations. Sales began in Q3 2020 and will continue through late 2021.

Calyxt’s high oleic soybean was launched in 2019 as the first commercially approved gene-edited food in the United States. ADM has contracted to purchase all of Calyxt’s high oleic soybean grain, following an initial purchase earlier in the year. The total purchases represent approximately four million bushels of high oleic soybean grain. ADM is responsible to crush the grain and will market and sell the resulting oil and meal.

“This agreement with ADM is yet another key milestone in monetizing our proprietary gene-editing technology and bringing our innovations to market,” said Jim Blome, CEO of Calyxt. “This is an important step in the advancement of our strategy and frees resources and capital within Calyxt, allowing our talented team to focus on growing the business through licensing our proprietary technology, pursuing product development partnerships and seed sale arrangements.”

“Our five new high oleic seed varieties introduced in 2020 underscores the progress we’ve made in expanding our offerings,” said Vince Restucci, vice president of agronomy services. “Our high oleic soybean seed and grain products are well positioned to address the increase in market and consumer demand for premium vegetable oil.”

“At ADM, we’re continually looking for ways to create more value for customers, and that’s exactly what we’re doing by extending our high-oleic soybean oil offerings with this new agreement with Calyxt,” said Charlie Morris, director of customer portfolio management. “We’re seeing more and more customers asking for high-oleic products, and we’re committed to leading in this value-added space. We appreciate the great relationship with Calyxt, and we’re excited to expand our portfolio to meet the growing demand of our food customers.”

   



 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Friday, January 22, 2021 Market Wrap-Up with Justin Lewis  Fri, 22 Jan 2021 14:40:41 CST
  • Healthy Soils for Sustainable Cotton Farmer Showcase  Fri, 22 Jan 2021 10:06:08 CST
  • 55 Cattle Company Donates Beef to the OKC Ronald McDonald House  Fri, 22 Jan 2021 09:39:39 CST
  • Love County 4-H Team earns Reserve Champion title in Skills Competition  Fri, 22 Jan 2021 10:31:20 CST
  • Plexus Cotton Market Report - January 21, 2021  Fri, 22 Jan 2021 09:23:35 CST
  • Lucas Applauds Opening of Oklahoma Pandemic Center for Innovation & Excellence  Fri, 22 Jan 2021 08:41:25 CST
  • U.S. Department of Agriculture Announces Key Staff Appointments  Fri, 22 Jan 2021 08:37:21 CST
  • EPA Welcomes Members of the Biden-Harris Leadership Team  Fri, 22 Jan 2021 08:36:21 CST

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2021 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.