on a Roll

14,000 bids posted on cash grain exchange

FT. COLLINS, CO -- January 25, 2001 -- PRNewswire  Online cash grain

exchange released announced that more than 14,000 real-time

cash grain bids are being posted daily on its site, tripling the number of bids since

early December.  This brings total outstanding volume of grain being bid on the

site to 643 million bushels.


"We are excited about sharing these figures and believe they demonstrate

we have a significant presence in the industry," said Scott Deeter, CEO and

President of  "Combine those figures with nearly

10,000 registered growers and 600 buyers with posted bids, who represent

1,790 grain-buying locations, and we see very encouraging growth in the

acceptance of on-line cash grain buying and selling." launched its cash Grain Exchange in May 2000 and has

expanded its service into Kansas, Nebraska, Illinois, Iowa, Minnesota and

Indiana.  This real-time, neutral exchange is for trading cash commodities

including corn, soybeans, wheat and milo (grain sorghum).


Nebraska farmer Rod Gangwish recently sold his grain on

The buyer had placed a FOB farm (free-on-board at the farm) bid on the site.

With a FOB farm bid, the buyer arranges and pays for the transportation, and

picks up the grain directly from the producer's farm.


Gangwish said he appreciates the number of bids he can view on  By using the service he feels he is discovering a range of

prices and new buyers.


" gives producers a tool to actually be a part of the price

discovery process," said Gangwish.  "Before, I would have called buyers where

they quote me their current price, now I can play an active part in the price

discovery process by using"


Gangwish also appreciates that is independent and neutral.

"My faith in the marketplace lies with someone who is independent, just as my

business is," said Gangwish.


The site also offers a comprehensive package of market information,

commentary and analysis; local, state and national weather; and news.  Weekly

agricultural news from South America is available on the site due to an

agreement with, an agricultural e-commerce Web site in South