FT. COLLINS, CO -- January 25, 2001 -- PRNewswire Online cash grain
exchange CyberCrop.com 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 CyberCrop.com. "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."
CyberCrop.com 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 CyberCrop.com.
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
CyberCrop.com. By using the service he feels he is discovering a range of
prices and new buyers.
"CyberCrop.com 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 CyberCrop.com."
Gangwish also appreciates that CyberCrop.com 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 MegaAgro.com, an agricultural e-commerce Web site in South
America.
