Bloomington, Illinois
June 1, 2007
GROWMARK, Inc. and Illinois
Farm Bureau today announced formation of a joint venture
called AgriVisor, LLC. The venture brings together the
organizations’ grain and livestock marketing analysis and
contract execution functions in an effort to offer farmers the
best marketing tools available.
“Uniting our efforts to provide farmers with risk management
alternatives that maximize their profitability is a logical step
for two organizations committed to serving the best interests of
our farmer-members and owners,” says Larry Keene, GROWMARK
director of grain risk management and value enhanced products.
“We want to improve farmers’ risk management ability through
education, market information, and new grain contracts
accessible from local grain elevators.”
Illinois Farm Bureau has operated AgriVisor Services, Inc. as a
subsidiary operation since 1975. It provides market advice to
Farm Bureau members. Under the new ownership agreement,
AgriVisor LLC will also provide premium grain market information
subscriptions, new grain risk management programs and assistance
in the execution of farmer options and futures trades. All
services will be provided through grain elevators and MID-CO
branch offices. MID-CO is the risk management subsidiary of
GROWMARK.
“Our members have asked for a service that offers an integrated
approach, combining market advice with futures and options
trading and grain merchandising,” says Philip Nelson, President
of the Illinois Farm Bureau. “This joint venture can offer that
service.”
AgriVisor, LLC will continue to provide market information and
advice communicated to IFB members through FarmWeek, the RFD
Illinois Radio Network, and the IFB website, Nelson says.
Bill Davission, Chief Executive Officer of GROWMARK, says the
venture enhances the long-standing relationship between the
organizations. “GROWMARK and Farm Bureau have worked
cooperatively for over 80 years, providing farmers with products
and services that meet the changing needs of the marketplace.
This venture helps firmly position the GROWMARK System of member
cooperatives as a premiere source of complete risk management
services for its farmer-owners,” Davisson says.
The joint venture is effective June 1, 2007. |
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