STRATUM, a new, first-of-its-kind digital platform, which is expected to be introduced by GrainBridge at the end of March, provides farmers across the U.S. and Canada access to advanced technology for marketing their grain more effectively – improving profitability.
The new platform offers farmers a single tool to efficiently store and manage information like tracking inputs, production and their marketing activities, instead of having to rely on multiple applications.
“We’re providing both a farm management and grain marketing platform where grain buyers in a specific geographic area are on a platform where the farmer can access their accounts and view things like cash bids, contracts, scale tickets, and other relevant information to help them make a grain buying decision on a single digital platform,” said Faith Larson, GrainBridge chief strategy officer.
With the use of STRATUM, farmers will be able to retrieve their respective agribusiness accounts so they can obtain location information, prices, grain contracts, and payment information, as well as enter into and manage grain contracts. The system currently includes more than 400 grain-buying locations, and GrainBridge continues to add more.
By eliminating as much manual entry by the farmer as possible, the platform is simple to use.
“With all the information that’s relevant today for a farmer to make decisions that drive the profitability of the farm, farmers have to access multiple applications to gather data,” Larson said. “The intent of the STRATUM product is to have all the info they need to make informed decisions on when and at what values to sell their grain all on a single platform at whatever time is most convenient for them.”
Security and privacy
The new digital platform also incorporates features to ensure the security and privacy of farmer information. Only the farmer will have access to their own data with full control, including flexibility to share their information with those they wish. Grain buyers will only have access to the customer data they provide through STRATUM, such as contracts.
Feedback has been positive from members of a farmer advisory board who have tested the new platform.
The concept for the new digital platform was first unveiled this past fall, when GrainBridge, LLC, was formed as a joint technology venture between Archer Daniels Midland Company and Cargill. STRATUM was recently selected as the platform name.
“The product is 100 percent being built for the farmer, no one else,” Larson said. “If the farmer doesn’t see value, the farmer won’t use the product.”
GrainBridge leverages Amazon Web Services (AWS) to build the predictive grain marketing decision support and grain trading platform for ag commodities. Working with AWS provides highly secure and scalable cloud services for GrainBridge’s farmer profitability platform.
In addition to being available to current customers of ADM and Cargill, the platform is open to all grain commodities who would like to pursue the application for their customer base.
For more information, call 1-800-515-5657 or visit GrainBridge.com/stratum.