Online Grain Marketplace Hits Milestone
DTN Marketspace — an innovative online grain marketing solution from Telvent that connects buyers and sellers of local cash commodities — has reached a major milestone with more than 21,000 registered participants. DTN Marketspace is rapidly expanding with growth of more than 35 percent since the beginning of 2009.
By taking advantage of today’s competitive grain-merchandising environment, this solution provides a private, secure and reliable online marketplace through which agribusinesses and producers can make offers and place bids, manage their positions and contracts, as well as tracking specific transactions and deliver commitments that will enable an efficient management of their business.
“Fueled by the increased demand and competition in the grain market, leading producers and agribusinesses are rapidly adopting DTN Marketspace to capitalize marketing opportunities and improve their profitability,” said Manuel Sanchez, Telvent Chairman and Chief Executive Officer.
Agribusinesses benefit from DTN Marketspace because it reduces costs and improves margins, centralizing bids and offers, and improving customer service by offering producers a 24-hour per day, 7-days a week storefront. In addition, agribusinesses receive comprehensive tracking and documentation to ensure accuracy and allow for a better recordkeeping of customers and non-delivery of grain contracts.
DTN Marketspace gives producers new market access and opportunities to sell grain. They are allowed to set their own price and select the buyer, as well as calculate true profitability using freight adjusted prices. Producers can conduct business when it is most convenient because it is continuously available online.