ABN relocating headquarters to WOSU in Columbus
LONDON, Ohio — WOSU Public Media has announced a new partnership with ABN Radio, the largest farm radio network in Ohio. ABN will relocate its headquarters to WOSU facilities on the Ohio State University campus in Columbus in early 2009.

ABN will move into office and studio space in the Fawcett Center on the Columbus campus, recently vacated by WOSU when it opened its new digital radio complex within the building. According to WOSU General Manager Tom Rieland, “This partnership is a perfect match for WOSU and ABN and supports the mission of both of our media operations and Ohio State. It’s a unique opportunity that could lead to many interesting programming collaborations in the future.”

The move will also give ABN greater access to experts and educators within the field of agriculture, as well as strengthening its connection with students. “Prior to owning ABN, we began at the network as student employees, so we place a high value on student interaction and training,” said Andy Vance, ABN CEO.

“This partnership will allow us to open our facilities to students for tours, hands-on training and internships, making it a learning laboratory.”

The announcement about the new endeavor was made on the first day of the Farm Science Review, the annual outdoor agricultural show hosted by the College of Food, Agricultural and Environmental Sciences.

“With this new partnership, we look forward to developing even stronger ties between the college and ABN Radio in supporting agriculture in the state of Ohio,” said Bobby Moser, vice president for agricultural administration and dean of the college. Moser attended the announcement with the university’s president, E. Gordon Gee.

“This is a wonderful opportunity to enrich the academic preparation of our students with hands-on experience,” said Gee. “As a land-grant university, Ohio State was founded with agriculture at its core, and this collaboration strengthens and extends our mission in tangible ways.”

Lindsay Hill, chief marketing officer for ABN, said announcing the partnership at the Farm Science Review was only natural.
“Farm Science Review is the university’s largest annual celebration of agriculture, so it is only fitting that this event would serve as a stage for unveiling these plans,” said. “Having President Gee on hand was also important because he shared in this vision early on, recognizing the synergies it would provide.”

ABN plans to move early next year, pending the completion of studio renovations. The company produces agricultural radio programming that is heard on over 65 stations across Ohio and provides programming for five other states as well.
WOSU Public Media is community-supported, nonprofit, noncommercial public radio and television stations licensed to OSU. For more information, visit http://wosu.org

Settlement process enhanced for MGEX spring wheat contract

MINNEAPOLIS, Minn. — New enhancements have been made to the MGEX (Minneapolis Grain Exchange or Exchange) Hard Red Spring Wheat (HRSW) futures contract settlement process. As of Sept. 15, the HRSW futures contract settles to a volume weighted average settlement price for each individual HRSW futures contract month.
The enhanced settlement process takes into consideration trades, bids and offers from both electronic and open outcry trading sessions. This is consistent with the minimum fluctuations of the contract. Each contract month’s settlement price is calculated by taking a combined volume weighted average of the outright trades (no spread legs) from both the open outcry and electronic markets during the closing period (last 60 seconds).

In addition to the outright trade activity in each contract month that occurs during the closing period, the enhanced process now includes applicable bids and offers from both the open outcry market, and the bids and offers in existence at the close of the market on the electronic trading platform MGEXpress. This determines the most accurate settlement price possible, according to MGEX.

The post-settlement session occurs after futures settlements have been posted. At the conclusion of the Spring Wheat futures settlement process, MGEX Trading Floor staff initiates the one-minute warning bell which leads to the commencement of a three-minute post-settlement session.

“Our goal is to find the most accurate settlement price possible,” Jim Facente, director of Market Operations, Clearing and IT said. “With enhancements to the Hard Red Spring Wheat futures contract, we are able to move closer to market transparency the market demands.”

Tyson Foods announces expansion in Brazil

SPRINGDALE, Arkansas (AP) — Tyson Foods, Inc. says it’s bought two poultry companies and has acquired majority ownership in a third in southern Brazil, home to many major producers of corn and soybeans. Terms of the deal were not disclosed.

The Springdale, Ark.-based meat producer announced Sept. 18 its agreements with the companies. Tyson says it will buy Macedo Agroindustrial and Avicola Itaiopolis, both in the state of Santa Catarina. Tyson also acquired a 70 percent stake in Frangobras, located in the state of Parana.

Tyson’s international president, Rick Greubel, said the company is expanding into Brazil because the country is the world’s leading chicken exporter and third-largest chicken producer behind the United States and China. Tyson, the world’s largest meat company, had sales of $26.9 billion in fiscal 2007. The company says chicken sales represented 31 percent of total sales.

“With the economic stability and a growing middle class, the per capita consumption of chicken will continue to increase in Brazil,” Greubel said. “In addition, our Brazilian operations will give us greater access to markets that are currently buying little to no poultry from the U.S.”

Tyson said current Macedo president, Joster Macedo, will head all of Tyson’s Brazilian operations.

“The current management teams as well as other jobs at all three companies are expected to remain in place as we move forward with expansion plans,” said Greubel. “The transition to expanded production will be gradual with our focus on the long-term success of these operations.”

Illinois co-op plans $66M wind farm for Pike County

PITTSFIELD, Ill. (AP) — A $66 million, 20-turbine wind farm is planned for Pike County in western Illinois.

Jacksonville-based cooperative Prairie Power said the farm could generate electricity for about 16,000 rural customers. Construction at a site along the Illinois River about 70 miles west of Springfield would start next year. And electricity production would begin in 2011.

The co-op already operates a coal-fired power plant and natural gas plant. But this is its first foray into wind energy. Prairie Power executive Robert Reynolds said the co-op plans to sell clean-energy bonds to finance the project. The bonds include a federal tax credit.

Pike County currently has just one wind turbine, built in 2004.