Pioneer Hi-Bred and Farms Technology Launch New Instant Hedging and Cash Grain Commodity Transaction Service

DuPont business Pioneer Hi-Bred and Farms Technology, LLC, today announced a new proprietary service technology available through the MarketPoint® resource Web site that will simplify and speed up grain commodities hedging for buyers by providing concurrent electronic hedge orders and cash commodity transactions.

"The e-PitSM technology has the potential to save grain buyers time and money in their grain buying process," said Joe Foresman, Pioneer senior marketing manager. "For growers, the ease and cost-efficiency of the service will increase the number of potential grain buyers on MarketPoint resource looking to buy their grain."

The patented e-Pit technology on MarketPoint resource will facilitate instant electronic hedging by buyers who purchase grain. The MarketPoint resource currently has over 120 buyer locations and more than 7,100 growers from Nebraska and Iowa registered with the resource program. Pioneer and Farms Technology are the first in the industry to provide this service and the MarketPoint resource will be the only marketing site with multiple buyers using e-Pit technology.

"The e-Pit technology on the MarketPoint resource is a win-win; it is designed to allow growers to obtain their asking prices and buyers to obtain their futures hedges with limited slippage," said Jason Tatge, CEO of Farms Technology. "Fully automated hedging and purchasing of grain allows producers to execute cash sales of grain anytime the markets are trading, day or night. For grain buyers, it gives their customers the opportunity to lock in purchases that are automatically hedged around the clock when their competitors can't."

Grain buyers currently must contact their commodities broker by phone or Internet to place their hedge when they buy corn from a producer. The e-Pit technology allows buyers to automatically purchase corn from growers by instantly selling offsetting futures contracts to execute hedges. The service helps protect the buyers' margins and has the potential to significantly reduce price risk involved with "slippage" due to the velocity of today's price changes on the exchanges.

The e-Pit technology monitors cash offers against every tick of the futures market from 9:30 a.m. to 1:15 p.m. and from 6 p.m. to 6 a.m. using the Chicago Board of Trade, Kansas City Board of Trade and Minneapolis Grain Exchange electronic futures markets.

The e-Pit technology currently works with futures commission merchants R.J. O'Brien, Rosenthal Collins Group and FCStone and is working on adding others in the near future.

The MarketPoint resource was established by Pioneer in early 2008. Available at, it allows growers to post their high-quality grain for sale to local buyers who make competitive bids based upon quality and quantity information posted to the site. In turn, local grain buyers are able to source this higher value grain to help maximize efficiency, whether it is in their ethanol plants or feedlot operations.

Foresman anticipates the addition of e-Pit will ultimately benefit growers using MarketPoint resource as well as buyers, because it will entice more buyers to use the resource since the e-Pit technology is only available through the MarketPoint resource and allows buyers to safely purchase corn day or night.

Farms Technology, LLC, ( is the industry leader for online grain marketing and has been serving the grain business by providing the electronic marketplaces with a mission of providing simple, useful tools to farmers and grain buyers that help improve efficiencies. Pioneer purchased an equity stake in Farms Technology in April 2008.

Pioneer Hi-Bred, a DuPont business, is the world's leading source of customized solutions for farmers, livestock producers and grain and oilseed processors. With headquarters in Des Moines, Iowa, Pioneer provides access to advanced plant genetics in nearly 70 countries.

DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.