North Star Commodity Investment Co. Adds DRCSM Pricing Tool To Managed Grain Program
AMES, IOWA, September 24, 2001 - North Star Commodity Investment Co. of St. Paul, Minnesota, announces the availability of the DRCSM pricing tool within its Professionally Managed Grain Program.
Use of the DRC pricing tool allows North Star to manage the price establishment process for customers enrolled in the program and better support country elevator affiliates in the grain origination process.
"The DRC pricing tool helps North Star better manage the pricing activity through automating the daily pricing activities. In turn, the DRC pricing tool allows North Star and its elevator partners to provide value-added services to farmers which take the emotion and guesswork out of marketing their grain," says Scott Cavey, president and chief operating officer for E-Markets, developer of the DRC pricing tool.
"The DRC pricing tool enables us to take the 'could have, would have, should have' afterthoughts out of the marketing process," says Marc Peterson, director of educational services for North Star. "We want to help our producers avoid indecision and lost opportunities by implementing marketing plans on their behalf which still allow them to deliver locally to people they know and trust."
North Star works with over 50 elevator locations throughout Minnesota.
John Valentine, general manager of Meadowland Cooperative, based in Lamberton, Minnesota, says adding the DRC pricing tool to the Professionally Managed Grain Program benefits both the producer and Meadowland. "Since North Star is using the DRC pricing tool to establish the cash price, we can now effectively manage the daily pricing results and originate grain earlier while our mutual customer, the producer, is able to capture the most value possible in the market."
"North Star's use of the DRC pricing tool marks the first time the program will have been used to the benefit of all three parties involved in the grain marketing process at the same time - producer, local elevator and commodity broker/marketing advisor," Cavey says.
"The commodity broker/marketing advisor develops the marketing strategy on behalf of the producer and uses the DRC pricing tool to pull the trigger. The elevator benefits by knowing how the grain is priced and when it will be delivered, thus enabling them to better manage their own pricing and shipping," he adds.
North Star Commodity Investment Co. provides information, analysis and advisory services to farmers and agricultural businesses throughout the nation. As a premier brokerage firm, the North Star Commodity Investment Co. analysts have more than 120 years of combined experience.
E-Markets applications eliminate barriers between buyers and sellers, enable information-sharing across the agrifood value chain, and streamline back office processes resulting in significant returns for its customers. More than $1 billion in transactions have been completed using the suite of Internet-based solutions powered by E-Markets®.
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