Farmers are looking for the best possible deal for their grain. Buyers are looking for easy ways to access all producers growing specific crops and request deliveries in a timely manner. Lyle Ehrmantraut knew that agriculture technology could provide an easier way to accomplish these goals so he created AgExchange, the strongest electronic grain marketing platform in the world.
Before founding AgExchange, Lyle Ehrmantraut spent 15 years working within the agriculture industry in all aspects of the business. He noticed major issues with the way that crops were bought and sold. First of all, the buyers had to call or text multiple producers in their area to find the crops they were looking for. Secondly, when a deal was agreed upon, the agent had to literally go to a field to get the contract signed before the deal could move forward. Farmers were relying on their personal relationships to market their grain and a missed phone call could mean a missed deal. These issues were costing both the buyers and the growers time and money.
“Our goal is to help buyers and farmers interact. Canada can lead the world as far as efficiency, knowledge and grain quality and that can lead to greater export opportunities for Canada and more opportunities for growers,” explains the passionate Ehrmantraut.
For a flat yearly fee, the farmer can map his fields and maintain accurate annual records of crops, storage and points of interest such as fuel tanks and fertilizer banks. In addition, AgExchange allows farmers to see grain deals from around Canada (or just their area) and respond to them using the user-friendly system. If a deal is agreed upon, a farmer’s unique PIN number serves as a signature to allow the deal move forward quickly.
“Post-Canada Wheat Board is a different world for our farmers, and we are helping them find the best deal,” smiles the founder.
The buyers are able to send out requests for crops to every producer using the system and track deal flow in real time to avoid over-buying, a common problem for grain buyers. They can also send out a text or email to specific farmers and the producer can respond immediately to accept or reject the deal, no signatures required.
The growing team at AgExchange will launch the trading platform CXN360 (Commodity Exchange Network) across Western Canada in November with a large portion of the buyer market already committed and an ambitious plan for growth the platform is sure to bring growers additional opportunities. In the last few weeks there’s been hundreds of thousands of metric tons of grain in negotiations offering excellent opportunities for new growers in the system.
“The AgExchange Marketplace is the only truly independent marketplace for Canadian crops. The fully transparent system ensures buyers and growers always know who they are dealing with right form the start.” Ehrmantraut relates. “We provide an easy way for growers to manage their inventory, maintain records and get the best price for their grain. AgExchange is making money for Canadian farmers.”
Founder: Lyle Ehrmantraut
Cofounders: David Callele, Darren Chalus
Incorporation Date: September 2013