Leading E-Trading Platform Teams with Pioneer MarketPoint(SM) Resource
DES MOINES, Iowa, April 17 /PRNewswire-FirstCall/ -- DuPont (NYSE: DD)
today announced it has purchased an equity stake in Farms Technology as part
of its strategy to create additional value for its customers and grain buyers.
Specific details of the equity stake purchase were not released.
DuPont business Pioneer Hi-Bred recently began partnering with Farms
Technology to develop MarketPoint(SM) resource, a new online market service
that links corn growers with end users to provide producers with enhanced
profit opportunities, greater product differentiation and more convenience.
In February, Pioneer and Farms Technology, which is based in Overland
Park, Kan., successfully launched a pilot program for the MarketPoint(SM)
resource with corn growers and ethanol plants in Nebraska. Growers,
representing more than 60 million bushels of grain, have already registered on
the site. Participating growers have shown they can make more money per
bushel on corn sales through MarketPoint(SM) resource than they can through
traditional marketing practices.
"Farms Technology has played a vital role in helping Pioneer develop the
MarketPoint(SM) resource into a successful website that is now having impact
on the marketplace," said Paul Schickler, Pioneer president and DuPont vice
president and general manager. "The purchase of this equity stake in Farms
Technology shows that we are making a long-term commitment to this unique and
expanding business. As grain markets expand, we see this involvement as a way
to help customers increase their income and drive seed sales."
Farms Technology's applications range from completely integrated
electronic hedging platforms, to private cash commodity exchanges, to fully
open public cash commodity exchanges. These products have been created to
automate farmer cash commodity sales directly from the farm to participating
"The resources of Pioneer and the automated marketing technology of Farms
Technology present growers with powerful new alternatives to improve their
bottomline," said Jason Tatge, CEO of Farms Technology. "Since Farms
Technology was formed in 2001, we have worked hard to create a workable, user-
friendly automated system that is relied upon today by thousands of farmers
for their grain marketing needs. We believe our system, in combination with
the Pioneer network and relationships, will create an even more successful
Available on the Pioneer GrowingPoint(R) website, the MarketPoint(SM)
resource allows growers to post their high-quality grain for sale to local
buyers who make competitive bids based upon quality and quantity information
posted to the site. In turn, local grain buyers will be able to source this
higher value grain to help maximize efficiency, whether it is in their ethanol
plants or feedlot operations.
Further information on MarketPoint(SM) resource is available on
Farms Technology, L.L.C., (www.farmstech.com) is the industry leader for
online grain marketing and has been serving the grain business by providing
the electronic marketplaces with a mission of providing simple, useful tools
to farmers and grain buyers that help improve efficiencies. Farms Tech's
software suite also includes the Dynamic Pricing Platform that electronically
connects all three participants (buyer, seller, futures market) in the grain
procurement process via the Internet.
Pioneer Hi-Bred, a DuPont business, is the world's leading source of
customized solutions for farmers, livestock producers and grain and oilseed
processors. With headquarters in Des Moines, Iowa, Pioneer provides access to
advanced plant genetics in nearly 70 countries.
DuPont is a science-based products and services company. Founded in 1802,
DuPont puts science to work by creating sustainable solutions essential to a
better, safer, healthier life for people everywhere. Operating in more than
70 countries, DuPont offers a wide range of innovative products and services
for markets including agriculture and food; building and construction;
communications; and transportation.
The DuPont Oval Logo, DuPont(TM), The miracles of science(TM),
MarketPoint(SM), GrowingPoint(R) and Pioneer(R) are registered trademarks or
trademarks of DuPont or its affiliates.
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