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Business Briefs - August 25, 2010

Seed Consultants celebrating 20 years in Ohio
WASHINGTON COURT HOUSE, Ohio — When Chris Jeffries and Dan Fox started Seed Consultants Inc. (SCI) in the corner of a farmer’s implement building, they never dreamed the company would become one of the largest independent seed companies in the United States.

Fox’s and Jeffries’ backgrounds were both in production agriculture and the seed industry. In the 1990s they were working for major seed companies but felt the western-based companies lacked adequate eastern Corn Belt testing and strong regional products.

They wanted to give customers the best genetics for the region, so in 1990 Jeffries, a Purdue University graduate with majors in animal science and agricultural education, and Fox, a Wilmington College graduate in ag business, started testing, selecting and selling genetics for the eastern Corn Belt. The company quickly grew from no sales in 1990 to $1 million in 1996 and $43 million in 2010.

Agribusinesses confident, according to DTN index
OMAHA, Neb. (DTN) — The outlook for American agribusiness is upbeat, according to the first DTN/The Progressive Farmer Agribusiness Confidence Index. The index, launched Aug. 23, is designed to measure sentiment in the agribusiness sector.

Based on a survey of 100 business managers of agribusinesses across the country, the index is a companion to the DTN/The Progressive Farmer Agriculture Confidence Index launched in April. The initial agribusiness index is 71; any score above 50 indicates optimism. The Present Situation Index is 73.5, while the Expectations Index is 69.3.

The positive tone in this initial Index is in sharp contrast to the results of the initial Agriculture Confidence Index, which was based on surveys of 500 producers. Released April 19, that overall index was 34.2, well below the neutral 50.

Why there was such a difference in the two indexes is hard to say, but it may partly reflect the inherent biases of the different groups, suggests Bill Lapp, principal consultant of Advanced Economic Solutions.

“Agribusiness managers are in sales. It’s their prerogative to be optimistic, upbeat and hopeful. There may be a natural inclination for farmers to be more pessimistic,” Lapp said.

Also, grain prices have risen since April.

TFI announces ‘Fertilizer 101’ initiative, with helpful book
WASHINGTON, D.C. — The Fertilizer Institute (TFI) announced the launch of a “Fertilizer 101” initiative, aimed at providing the people of the fertilizer industry, their allies in the agriculture community and the general public with a central source of information on fertilizers. Key components of the initiative are a Fertilizer 101 book and a corresponding website at http://fertilizer101.org

Fertilizer 101 replaces TFI’s Fertilizer Handbook, a well established industry resource for fertilizer information. The new materials cover the important fertilizer fundamentals including information on essential nutrients, fertilizer production and definitions of commonly used fertilizer products.

The Fertilizer 101 book is available for purchase from TFI at $39.95 per copy. TFI members can order copies for $14.95. Order forms may be obtained at www.tfi.org/publications/publications _orderform.pdf

Contractor picked for West Tennessee solar farm
NASHVILLE, Tenn. (AP) — The State Building Commission has approved Chattanooga-based Signal Energy as the design/build contractor for the West Tennessee Solar Farm along Interstate 40 in Haywood County.

State officials said the proposed $20.5 million, five-MW, 30-acre power generation facility will be one of the largest solar installations in the Southeast. Installation of the solar modules is expected to begin in October with completion next spring. The University of Tennessee will oversee planning, operation and management of the farm.

Also, a large solar water heating array is now online at the Knox County Detention Center. The Knoxville News-Sentinel reported the solar farm contains 300 panels, five storage tanks and more than a mile of copper piping.

Brian Durr, district manager for Trane, Inc., said at a dedication ceremony July 14 it’s one of the largest solar thermal systems in the country. It is replacing natural gas as the source to heat water for more than 1,000 inmates. The $1.88 million project was funded under a federal grant and is expected to save Knox County $60,000 yearly in energy costs.

Iowa Soy to give tractor leases at Farm Progress Show
ANKENY, Iowa —  At this year’s Farm Progress Show at Boone, Iowa, the Iowa Soybean Assoc. (ISA) is celebrating the Opportunity Sweepstakes with two grand prizes of 200-hour tractor leases of either a Case IH Magnum 335 or John Deere 8320R, plus free soy biodiesel.

The goal is to customize ISA’s services to better serve soybean growers and expand the number of producers who are engaged in the organization. Contest registrations will be accepted online at www.iasoybeans.com from now until Sept. 2, and by mail and in person at the 2010 Farm Progress Show.

Monsanto corn receives EU regulatory approval for corn
ST. LOUIS, Mo. — Monsanto Co. welcomed the European Union authorization of two of its corn technology combinations, Genuity VT Double PRO (MON 89034 X NK603) and YieldGard VT Triple (MON 88017 X MON810). The decisions cover the import, processing and food and feed use of grain and processed products.

Import approvals for both products have already been obtained in all key countries that import corn from the United States, stated Monsanto.

YieldGard VT Triple technology is used to help control insects that feed on corn plants. The technology is estimated to be on nearly 30 percent of the corn acres in the U.S. this year. Genuity VT Double PRO was recently introduced in the U.S. and is under review for cultivation approval in Argentina, Brazil, Mexico, South Africa, Philippines, Indonesia and Vietnam.

8/25/2010