Monsanto invests $6.5 million in Ottawa-based online grain marketplace

Mar 22, 2017

FarmLead currently serves more than 4,000 farms

By Diego Flammini
Assistant Editor, North American Content
Farms.com

FarmLead, an Ottawa-based online grain marketplace, received an investment of $6.5 million USD led by Monsanto Growth Ventures (MGV).

The online platform allows producers to post bids online and engage directly with other producers who have grain listed for sale.

“Farmers can showcase their grain,” Brennan Turner, FarmLead CEO, told Techopia Ottawa. “They can take pictures of it and automatically it’s broadcast to all applicable buyers to that type of grain.”

Posting grain is free and Farmlead only collects a fee once a deal is closed.

Included in the investment with MGV are Aviro Ventures, the MaRS Investment Accelerator Fund and Serra Ventures.

Part of the investment will help FarmLead include a forward contracting service into its platform, allowing farmers to sell grain to interested buyers based on forecasted grain yields.

“Our ability to increase deal flow for farmers, enabling them to negotiate better prices and other key trade terms online, allows farms to take ownership of their grain production and marketing lifecycle,” Turner said in a release.

“This is the future of grain trading and we are truly poised to transform the way agricultural commodities are traded worldwide.”

Since its beginnings in 2013, FarmLead has grown to serve more than 4,000 farms across North America.

Farms.com has reached out to FarmLead for more information on how the investments can benefit farmers.

Video: Spring weed control in winter wheat with Broadway® Star (pyroxsulam + florasulam)

#CortevaTalks brings you a short update with Cereal Herbicides Category Manager, Alister McRobbie, on how to get the most out of Broadway® Star.

Significant populations of grassweeds, including ryegrass and brome, can threaten winter wheat yields. Spring applications of a contact graminicide, such as Broadway Star from Corteva Agriscience, can clear problem weeds, allowing crops to grow away in the spring.

Broadway Star (pyroxsulam + florasulam) controls ryegrass, sterile brome, wild oats and a range of broad-leaved weeds such as cleavers. It can be applied to winter wheat up until GS32, but the earlier the application is made, the smaller the weed, and the greater the benefit to the crop. Weeds should be actively growing. A good rule of thumb is that if your grass needs cutting, conditions are right to apply Broadway Star.