Feed is made up of grains. Millions of tons of feed are mixed yearly. It s a coming together of the grain industry and blending directly with feed industry, says Lies. Farmers can check prices and updates at any time. Grain crops are sold direct to elevators.
Elevators turn around, sell the product on line to feed mills and other places.
The system makes the agreement, locks it in place, Lies says. It s all done electronically, and it s very quick. The company was founded by John Bowlsby, a former University of Iowa wrestler who spent 17 years as a cash commodity trader in this market. Farmers sell their product for free to the elevator, and the elevator pays a small fee when they sell to feed mills or brokerages, says Lies. That s 900,000 transactions per month, he says.