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Pioneer expanding online grain marketing tool

Agriculture.com Staff 02/12/2016 @ 12:14pm

After recent successful pilot testing, Pioneer Hi-Bred International, Inc., is widening the scope of a new online grain marketing program.

The MarketPoint resource, an online service from Pioneer that links grain sellers with buyers, is expanding into Iowa and all of Nebraska after completing a successful trial program in central Nebraska.

MarketPoint, company officials say, allows corn growers to post grain offerings online to multiple buyers, providing producers with enhanced profit opportunities and greater product differentiation.

"Providing a connectivity point for growers and buyers, MarketPoint resource is a unique tool that exists nowhere else in the industry," says Joe Foresman, Pioneer senior marketing manager. "With the expansion into Iowa and farther into Nebraska, even more growers and buyers now can use this proven resource tool."

Growers can post their high-quality grain for sale to local buyers. At this point, the computer monitors the bid/ask until the contract settles or expires. Buyers are able to source higher-value grain because they can monitor large volumes in their origination area; even if they're looking for grain with unique characteristics, like hybrids designated as High Total Fermentables (HTF) or High Available Energy (HAE).

"In the past, growers may have had to call buyers to check on their prices, and by the time they make a few calls, the first price already may have changed," Foresman says in a Pioneer report. "With the MarketPoint resource, you can check prices day or night. It provides growers with real-time prices during active trading hours around the clock. The feedback from the initial launch has shown the resource tool is an easy-to-use service."

The MarketPoint resource provides participating growers access to reports that summarize their grain sales for the year. Growers in the program also will receive cell phone text-message alerts on commodity prices, incoming bids and offer acceptance.

After recent successful pilot testing, Pioneer Hi-Bred International, Inc., is widening the scope of a new online grain marketing program.

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