November 05, 2013

5/11/13: Controversy over electronic grain trade; Viterra invests in grain handling network; remember remember the 6th of November

Global exchange company, CME Group Inc. was at the centre of a controversial trial on Monday following a decision to consider electronic trades when settling grain prices.
Terrence Duffy, executive chairman of CME defended the digital move, stating the decision was "the right thing to do."

 In June 2012, traders working in the futures pits on the Chicago Board of Trade's 140-year-old agricultural trading floor sued CME to halt settlement rules that factored in electronic transactions, saying the change would kill their business.  
 
The digital change follows a century-old tradition of settling futures prices for crops like corn and soybeans based on transactions executed in the pits.  
Read the full story here.
 
Canada's grain industry leader Viterra recently announced it intention to invest over CAD$34 million into its Alberta elevator network through two upcoming projects.
 
The first project will see the construction of a new high throughput grain terminal near Grimshaw, Alberta, Canada. The concrete facility will be developed with a 104 railcar loading capability and approximately 30,000 tonnes of grain storage.

The second project involves the expansion of Viterra's grain terminal in Grassy Lake, Alberta. Storage capacity will increase by 14,000 tonnes to 36,500 tonnes, along with operational improvements to increase logistical flexibility and efficiency.
Read the comprehensive story on Viterra's website.

Preparations are underway here at the Global Miller HQ, but it's not bonfire night that's got us excited.

Tomorrow will see the return of the UK's best post harvest event; UK Grain. 

Now in it's 7th year, the event covers storage handling, drying and marketing, providing a wealth of opportunity to those looking for reinvestment in their fixed grain handling equipment, crop monitoring and offers marketing advice and storage solutions.

As well as a full technical exhibition from the key players within the business, UK Grain also boasts a seminar programme, which is free to all visitors. 

In addition, there is also an aptly named 'GrainStorm' area where visitors can talk to industry experts about specific issues about the market, grain sampling and pest identification and control.

Organised by leading show specialists, FarmSmart, UK Grain takes place in the Peterborough Arena, UK from 9am - 4pm tomorrow.

Three of the Grain and Feed Milling Technology team - Roger Gilbert, Tuti Tan and Lee Bastin -  will be present at the event, so do drop by and say hello if you get the chance!

For more details, visit the UK Grain website.



 
A field of wheat

 

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