Does sprouting grains reduce the phytic acid content of the grain? Absolutely. Listen to the video below for some food science on the topic.
To sprout your grains, you soak them overnight in whole form (the whole spelt berry for instance), drain them well, and place them in a container (usually a tray or a jar) with a a cheesecloth cover. In a day or two, they will begin to send out little tails, the sprouts. You grain seed is transforming itself from a seed to a seedling. The nutrition content of the seed changes, including a reduction in the phytic acid content.
If you are sprouting primarily to reduce phytic acid, it is probably not the most time-effective strategy for you. I would recommend instead simply grinding the grain fresh and using a sourdough preparation method. However, there are legions of devotees to sprouted grain flour and more power to them. It is the Cadillac of flour.
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