So here is what I found on phytic acid on Wikipedia.  Like everything else it 
has strong points and weak points.  Everyone needs to evaluate and decide for 
themselves.
PT

Phytic acid is found within the hulls of nuts, seeds, and grains.[1] In-home 
food preparation techniques can reduce the phytic acid in all of these foods. 
Simply cooking the food will reduce the phytic acid to some degree. More 
effective methods are soaking in an acid medium, lactic acid fermentation, and 
sprouting.[7]

Phytic acid has a strong binding affinity to important minerals such as 
calcium, magnesium, iron, and zinc. When a mineral binds to phytic acid, it 
becomes insoluble, precipitates and will be inabsorpable in the intestines. 
This process can therefore contribute to mineral deficiencies in people whose 
diets rely on these foods for their mineral intake, such as those in developing 
countries.[8][9] Contrary to that, one study correlated decreased osteoporosis 
risk with phytic acid consumption.[10] It also acts as an acid, chelating the 
vitamin niacin, which is basic, causing the condition known as pellagra.[11] In 
this way, it is an anti-nutrient, despite its possible therapeutic effects (see 
below). For people with a particularly low intake of essential minerals, 
especially young children and those in developing countries, this effect can be 
undesirable.

Binding of calcium with phytic acid depends on pH.[12]

"Probiotic lactobacilli, and other species of the endogenous digestive 
microflora as well, are an important source of the enzyme phytase which 
catalyses the release of phosphate from phytate and hydrolyses the complexes 
formed by phytate and metal ions or other cations, rendering them more soluble, 
ultimately improving and facilitating their intestinal absorption"[13]

Ascorbic Acid (vitamin C) can reduce phytic acid effects on iron.[14]

Next section:

Phytic acid may be considered a phytonutrient, providing an antioxidant 
effect.[1][16] Phytic acid's mineral binding properties may also prevent colon 
cancer by reducing oxidative stress in the lumen of the intestinal tract.[17] 
Researchers now believe that phytic acid, found in the fiber of legumes and 
grains, is the major ingredient responsible for preventing colon cancer and 
other cancers.[1][18]

It has been shown that phytic acid is protective against Parkinson's disease in 
vitro.[19] The compound significantly decreased apoptotic cell death induced by 
1-methyl-4-phenylpyridinium in a cell culture model. It is also known that, at 
least in rodents, phytic acid crosses the blood-brain barrier,[20] and so, 
there is a strong possibility that neuroprotection occurs in vivo as well. 
Ironically it has also been shown that phytic acid is a required cofactor for 
YopJ, a toxin from Yersinia pestis.[21]. It is also a required cofactor for the 
related toxin AvrA from Salmonella typhimurium.[21]

Phytic acid's chelating effect may serve to prevent, inhibit, or even cure some 
cancers by depriving those cells of the minerals (especially iron) they need to 
reproduce.[1] The deprivation of essential minerals like iron would, much like 
other broad treatments for cancers, also have negative effects on non-cancerous 
cells. It is unknown whether this would affect other cells in the body that 
require iron (such as red blood cells) or whether the deprivation of minerals 
is more localized to the internal colon region.[citation needed]

Phytic acid is one of few chelating therapies used for uranium removal.[22]