LONDON, and CHICAGO — CME Group announced April 12 that it intends to close its London-based derivatives exchange and clearing house, CME Europe and CME Clearing Europe, by year-end 2017.

 

During the coming months, CME Group will work closely with all market participants and regulators to ensure a smooth transition and an orderly wind down of business operations, including the provision of CME Group market alternatives for actively traded products on CME Europe.

 

“While Europe continues to be a critically important and expanding market for CME Group, with average volumes of more than 2.6 million contracts per day from European clients during 2016, our customers have shown that they prefer to access our global products, deep liquidity and greater capital efficiencies through our U.S. infrastructure,” said William Knottenbelt, CME Group Senior Managing Director, International.

 

“Though we have made the business decision to close these London-based entities, we will continue to maintain a significant operation in London to execute our global growth strategy, including serving our European client base, developing innovative products and services, and helping customers effectively manage their risk across every major asset class.”

 

 

DULUTH, Ga. — AGCO Corp., a worldwide manufacturer and distributor of agricultural equipment, has been granted a new multi-year, statewide contract with the state of Michigan Department of Technology, Management & Budget. Effective immediately, all eligible agencies will have access to purchase Massey Ferguson tractors and implements through a pre-negotiated contract.

 

Eligible state and local government agencies can purchase Massey Ferguson tractors and implements from AGCO dealers serving Michigan. State agencies, local government entities, private nonprofit institutions of higher education and other authorized political subdivisions can purchase equipment such as tractors, mowers, box blades and other attachments using Term Schedule Contract 071B7700094 now, through Jan. 12, 2021.

 

The agreement provides the state agencies of Michigan competitive pricing on the entire portfolio of AGCO’s Massey Ferguson tractors and implements, sold, serviced and supported by Massey Ferguson dealers within Michigan.

 

 

SAN CARLOS, Calif. — Farmer’s Business Network, Inc., the independent farmer-to-farmer network, has announced its plan to create an additional 60 full-time positions, on  top of previously announced hiring, nationwide to support its rapid growth in its contributory farmer information sharing network and FBN Direct buying platform. 

 

The FBN network has expanded rapidly since its launch in 2015, now serving nearly 13 million acres of member farms in 38 states. Farmer’s Business Network currently employs 125 people across its Sioux Falls, S.D., National Operations Center, California Technology Center and its field team spanning 12 additional states.

 

FBN expects to add this headcount over the next 6-9 months as it works to grow the network further and continue to add world class technology for farmers. Visit www.farmersbusinessnetwork.com/careers to review open positions and

apply.

 

 INDIANAPOLIS, Ind. — For the past 12 years, Rabo AgriFinance has worked with the National FFA Organization to ensure the future of agriculture and agricultural education. Through a generous donation, Rabo AgriFinance has worked with FFA to provide FFA members the opportunity to grow into leaders, build their communities and strengthen agriculture.

 

In 2017, Rabo AgriFinance will serve as a Five Star sponsor. They currently support supervised agricultural experience grants, scholarships, the beef production-entrepreneurship proficiency as well as the Living to Serve platform.

 

At the local, state and national levels, FFA brings their mission to life for student members. Members gain experience in the areas of agricultural literacy and advocacy, agricultural knowledge, career exploration, leadership development, food security and service engagement.

 

CEDAR RAPIDS, Iowa — In October 2016, Altorfer Rents completed the Rental Operations Certification as part of Caterpillar Inc.’s initiative to provide a consistent, best-in-class rental experience for customers around the world. One month later, Caterpillar recognized Altorfer Rents with the prestigious 5-Star Award for Outstanding Achievement in Rental Operations.

 

For the certification, representatives from Caterpillar’s Global Rental Group worked with Altorfer Rents to conduct a comprehensive business review of their operations. The assessment consisted of 228 specific line items across five categories, including Asset Management, Performance Control, Sales Management, Business Growth Strategy and Safety and Employee Development.

AMARILLO, Texas — Producers Ag Insurance Group, Inc. (ProAg), a member of the Tokio Marine HCC (TMHCC) group of companies, announced a purchase agreement has been signed to acquire crop managing general agent (MGA) International Ag Insurance Solutions LLC (International Ag).

 Headquartered in West Des Moines, Iowa, International Ag manages multiperil crop, crop hail and named peril crop insurance. In 2016, the company managed gross premiums of $67.4 million, as reported by National Crop Insurance Services (NCIS).

 “ProAg believes International Ag provides a complementary platform to add business from a strong group of independent agents, while improving our profitability and enhancing our diversified portfolio,” said Michael Connealy, ProAg’s president and CEO.

 

NASHVILLE, Tenn. — Tennessee farmers who grow organic crops and have become USDA certified can now qualify for a cost share reimbursement for the expense of their certification.

Certified organic producers and handlers can apply to USDA Farm  Service Agency (FSA) offices for a 75 percent cost share up to a maximum of $750 to defray costs related to receiving and maintaining organic certification, including inspection costs.

 

Those interested can apply at 59 FSA field offices across Tennessee. Applicants must submit an application form, W-9 tax form, proof of certification and an itemized invoice of the certification expenses.

 This marks a change in the process for those applying for this cost share. Previously, producers would submit applications through the Tennessee Department of Agriculture (TDA). Now applicants will work with their local FSA office to receive these funds. Since many producers are already in close contact with their FSA offices for other projects, this will offer them a one-stop shop to easily submit their cost share application.

 

 RESEARCH TRIANGLE PARK, N.C. — BASF has reached a global licensing agreement with the Broad Institute of MIT and Harvard for the use of CRISPRCas9 genome-editing technology to improve products in agricultural and industrial microbiology applications.

 

The technology advances genome editing because it has the potential to be a simpler and more precise tool for making targeted changes to a cell’s DNA. For BASF, it offers many benefits for advancing and delivering improved agricultural and industrial products faster and less expensively than other genome-editing methods.

 “This technology represents a transformative application of genome editing for the research community,” said Issi Rozen, chief business officer of the Broad Institute. “CRISPR-Cas9 can directly benefit advanced research across many industries including human health and agriculture.”

 

BASF investments aid growers and local communities RESEARCH TRIANGLE PARK, N.C. — BASF announced March 21 that it has completed its Beaumont, Texas, facility expansion, the only dicamba manufacturing facility in the U.S. for the agriculture industry.

 

The Beaumont site received more than $270 million in capital improvements in the last three years, making it BASF’s largest agricultural products facility investment in company history. In addition, BASF has invested more than $290 million in its eight other North American agricultural products production sites and facilities that support its agricultural business, helping to provide solutions for growers and contributing to the economic development of the communities it

serves.

 BASF has more than 50 years of technical experience with the active ingredient dicamba and today is the market leader in global dicamba supply.

 

With glyphosate-resistant weeds identified on more than two-thirds of U.S. crop land, it is crucial for growers to have new tools to build effective weed control programs that utilize multiple sites of action.

 

FISHERS, Ind. — An embryo transfer English Longhorn calf was born at Conner Prairie on March 22 – the first

birth of its kind in decades. The calf is now one of 11 English Longhorns at Conner Prairie, a 1,000-acre outdoor, historically themed learning space, which has the secondlargest herd of the breed in the U.S. There are only about 40 English Longhorns in the country.

 

The 7-day-old embryo was shipped from England in liquid nitrogen to keep it cold and implanted into one of the museum’s Shorthorn cows at an offsite facility 10 months ago.

 

This is the first time Conner Prairie has used embryo transfer technology. Livestock Manager Kevyn Miller said it could prove instrumental in preserving English Longhorns in the U.S.