NEW YORK (CNN/Money) - A new flour is about to be unveiled that its creators say will allow bakers to make bread with the taste and appearance of more popular white bread, but with the improved nutritional benefits of whole wheat breads.

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Food maker ConAgra (CAG: Research, Estimates) will unveil the new flour, known as Ultragrain, on Sunday, according to USA Today. The flour uses a new milling process that uses the whole grain but makes particle size uniform. It also has developed a new white wheat which company officials say tastes milder and sweeter than most traditional wheat varieties.

The paper says that 54 percent of children prefer white bread to whole wheat bread. While it can be enriched, the flour used in white bread loses some of its nutritional value in the milling process.

ConAgra said the new Ultragrain flour has 3.5 times more dietary fiber than refined, unenriched wheat flour and 11 times more vitamin E, four times more niacin and five times more magnesium.

The company is negotiating to sell the Ultragrain flour to several food makers. In addition to bread bakers, it could be used in cereals, according to the paper.