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Bushel Launches Transaction Platform for Grain Buyers

by Camille Grade  April 8, 2020

The Bushel Offer Management System (OMS) ties into the Bushel platform to power offer management and hedging tools for grain buyers and growers.

FARGO, ND (April 8, 2020) – Bushel, an independently owned software company and leading provider of software technology solutions for growers, grain buyers, protein producers and food companies, announced today the launch of the Bushel Offer Management System (OMS), a full-service solution for creating and managing cash bids and offers, and performing hedge management.

 

Bushel OMS provides direct business ties among grain companies, their growers, and the futures market. Users of OMS utilize a simple interface to manage their grower’s offers, including cash, hedge-to-arrive and basis contracts, quickly and confidentially. Bushel OMS seamlessly integrates with Bushel’s core digital offerings, allowing growers to submit offers through their Bushel-powered apps and grain buyers to manage and hedge all offers, regardless of how they are submitted.

 

“Bushel continues to build the ‘last mile’ of communication between growers and grain buyers,” said Bushel founder Ryan Raguse. “With 25,000 growers using Bushel-powered apps provided by their local grain facility today, our team at Bushel is focused on continuing to provide technology that strengthens relationships between two critical parts of the agriculture value chain – growers and grain buyers. This is not a marketplace. We are not creating another middleman. This is a tool for grain buyers to do business directly and digitally with their growers.”

 

The Bushel OMS is Futures Commission Merchant (FCM) agnostic and positioned to work with participating grain accounting systems. Bushel OMS provides grain buyers a tool to power:

 

  • One-stop cash bid management: Enter cash bids in the OMS and populate cash bids in Bushel-powered apps and websites, eliminating logins to multiple platforms and databases.
  • FCM agnostic digital platform: Manage futures orders across multiple FCMs within a single digital platform.
  • Zero-touch working order adjustments: Automatically revise offers when the basis moves.
  • Grower/merchandiser offer transparency: Easily view offer price, quantity, and status visible, regardless of which party entered the information into the system.
  • Universal commodity management: Manage any commodity – no futures contract required.
  • Reduced slippage: Reduce error and omission points and increase bushel value.

“The Bushel team is nimble and knows how to build software that is intuitive, easily adopted and useful,” said Raguse. “We have prioritized the development and launch of Bushel OMS due to current conditions. It’s one more way we can provide value to our customers and the growers they do business with.”

 

With a mission to connect and enhance the grain industry through digital infrastructure, Bushel software provides real-time account information directly to growers by integrating into a grain elevator’s accounting system and market feeds. Offered through elevator-branded apps, Bushel powers real-time scale tickets, contracts, commodity balances, futures, prepaids, cash bids, e-sign and contract management.

 

A beta launch of Bushel OMS is scheduled for this month.

bushel_leaves

Becoming Bushel

How a Hometown Startup Evolved to Power
the Grain Industry's Digital Infrastructure

2011

Myriad Mobile Opens

Co-founders Jake and Ryan, while still college seniors, open the doors to Myriad Mobile.

2016

Myriad Mobile Digitizes the Scale Ticket Process

Myriad Mobile builds a scale ticket app for a local elevator as a proof of concept.

2017

Bushel Opens for Business

Bushel is born as the grain industry’s first automated software platform providing scale tickets, contracts, cash bids, and more.

2019

Bushel touches over 15% of U.S. grain volume

Bushel platform now serves 1,200+ grain receiving locations in the U.S. and Canada with 20,000 producers using Bushel-powered applications monthly

2019

Bushel Receives a $19.5 Million Investment

“The end user is usually the farmer, and so for us, as we invest in the technology, we hope that the benefit continues to be for the farmer” – Jake Joraanstad, CEO Bushel