Navigating the complex grain marketing terrain
The US agribusiness group maintains that this suite will assist growers in making informed decisions to enhance their competitiveness in the market.
According to Ryan Dwyer, leader of the Cargill Elevate program, the company's pricing options enable farmers to tailor their grain marketing plans to meet individual goals.
The idea is to give farmers flexibility in controlling their marketing program, from the smallest details to long-term planning, he explained.
Under the Cargill Elevate grain marketing portfolio, farmers can access condensed market updates, offering key market developments, fundamental supply and demand information, and price ranges.
“Leveraging a global network, Cargill collects market data, employing advanced analytics and industry expertise to provide timely and relevant insights to farmers,” he told FeedNavigator, stressing the personalized nature of the firm’s pricing tools, which can be customized based on farmers' control preferences, cash flow requirements, and risk tolerance.
Every farmer has unique goals and needs, so there shouldn’t be a one-size-fits-all approach to grain marketing. - Ryan Dwyer, Cargill Elevate program lead.
Shielding growers from market volatility
Cargill has categorized the resources into three groups based on their specific purposes, he said. One product focuses on simplifying grain marketing by establishing a price and mitigating market volatility. Another aims to shield growers from market volatility with a minimum futures price, while the third resource capitalizes on market opportunities to secure premium prices for grain.
"Onboarding involves collaboration between farmers and Cargill representatives, guiding users through platform features."
In addition to these tools, Cargill Elevate+, scheduled for a summer 2024 launch, will incorporate advanced features such as cash grain recommendations, and access to the customized farm management tool, Bushel Farm, among other elements, continued Dwyer.
"The customized access to Bushel Farm for Cargill Elevate+ customers will help them to quickly access and analyze their grain marketing situation without the burden of extensive data entry."
Active feedback
Regarding the continuous development and enhancement of its grain marketing resources, Dwyer said the company actively seeks feedback from farmers via ongoing conversations and through surveys.
Growers can leverage the digital platform to connect with Cargill staff to ensure their evolving needs are addressed, he added.
"Continuous communication and support from our reps allow farmers to adapt strategies based on market conditions – flexibility is key."
User acceptance testing of the Cargill Elevate+ Bushel Farm platform has been successfully completed, with the company currently collaborating with farmers to gather feedback and insights in preparation for a planned deployment this summer, he said.
Cargill has ongoing investment in research and technology, along with industry partnerships to ensure it stays abreast of market trends, resulting in continuous adaptation and innovation in its services, noted Dwyer.
