Issue 32
November/
December 2000

Prairie Grains is the official publication of the Minnesota Association of Wheat Growers, North Dakota Grain Growers Association, South Dakota Wheat, Inc. and the Minnesota Barley Growers Assocation.

Copyright Prairie
Grains Magazine
November/
December 2000

Grain Market Gleanings

Producers hear about Y2K grain marketing

Over 200 producers and agribusiness members turned out for a seminar on "marketing the Y2K crop" mid-September in Fargo, sponsored by the North Dakota Grain Growers Association, Minnesota Wheat Council, Minnesota Association of Wheat Growers, and the USDA's Risk Management Education program.

AgMarketingWizard.com
Progressive Ag Marketing has introduced a new, patent-pending Internet-based marketing system called Ag MarketingWizard.com that will help farmers design, create, monitor, and execute a personalized marketing plan for grain and livestock. For $50/year, the "wizard" will help farmers design a personalized marketing plan, remind them by e-mail when sales price targets or deadlines are hit, and implement a system to monitor the plan. Research/analysis information, customer support, and hedging service is available at an additional cost. In the future, Progressive Ag plans to add a 'Wiz University' section for educational material from land-grant Universities/Extension and an "Advisory Service" section which allows producers to subscribe to other marketing services through the Wizard, explains Ray Grabanski, president.

Those curious about the system can check it out at www.AgMarketing Wizard.com, or get information by calling 1-800-450-1404.

Charting global crop status
Now that world trade and crop supplies determine much of the pricing you get for your commodities, knowing more of what crop is grown where and when is important. The National Agricultural Statistical Service has developed graphic globes on what is growing each month of the year. Check out the visuals at: www.usda.gov/oce/waob/jawf/calendar/ to see the changes in commodity growth around the globe.

Grain companies introduce online trading marketplace
ADM, Cargill, Cenex Harvest States, DuPont and Louis Dreyfus have announced the formation of PradiumTM (PRAY-dee-um) Inc. - a separate company that will operate an online business-to-business marketplace and information resource expected to begin trading cash grains, oilseeds, and commodity by-product exchanges by the end of the year at www.pradium.com.

Pradium's online marketplace will initially feature nine virtual trading pits devoted to trading cash corn and soybeans, as well as commodity by-products including wheat middlings, soy hulls, corn gluten feed, corn gluten meal, meat and bone meal, corn hominy and distillers dried grains. Future product pits will include wheat, soybean meal, oats, grain sorghum, barley, and non-refined vegetable oils among others.

Ultimately, Pradium will automate document flow and facilitate trades without size, time or geographic constraints, company organizers say. The service is targeted at all agriculture commodity buyers and sellers with primary emphasis on grain handlers, grain processors, feed lots, and feed and pet food manufacturers.

Rhem Wooten, former energy executive, who has conceptualized and built several businesses, began work October 16 as Pradium's president and chief executive officer. Dan Amstutz, who most recently was president and CEO of the North American Export Grain Association, will serve as chairman of the Pradium board of directors.