United Crop Insurance Service LLC (United Crop) and Grain Hedge LLC announced a new joint venture agreement to form Grain Hedge United, which will help farmers leverage market-based solutions to manage risk and increase farm profitability.
Kevin McNew, president and founder of Grain Hedge, said, "The U.S. farm economy is going through an incredible adjustment to lower prices. At the same time, the U.S. market for farm commodities is a global one, running 24/7 and dictated by a dizzying array of international factors that influence the price a farmer gets for his crop. We are excited to work with United Crop to bring expert market intelligence and efficient, low-cost pricing tools to United Crop customers that improve their bottom line."
Timothy R. Lung, chief financial officer and co-founder of United Crop, added, "The combined synergies, expertise and resources of United Crop and Grain Hedge unite two key components of farm continuity: risk aversion and crop price. We are delighted to serve and demonstrate value to the clientele and members of Grain Hedge through our proven risk mitigation approach and value proposition that are in keeping with our mission to 'Ensure, Equip & Preserve' success for U.S. farmers and ranchers."
United Crop co-founder Jason Maschhoff said, "With farmers and ranchers faced with uncertainties and potential decreased revenue due to lower commodity prices, they must decide how they will react to those uncertainties and, above all, have confidence in a trusted adviser that is experienced and well versed in the complexities and nuances of risk and price. The combination of United Crop and Grain Hedge delivers that expertise the farmer and rancher can depend on."
United Crop's team of industry professionals delivers service, the latest technology in precision agriculture reporting and farm management tools and resources. United Crop helps farmers and ranchers understand, identify and implement the correct crop insurance solutions for their operation and transfer some of the associated risks.
Grain Hedge is a commodity brokerage business that works closely with agricultural producers to execute trades on futures and options markets. Grain Hedge delivers trading technologies through mobile apps that give farmers access to the markets in real time while providing critical market intelligence to help them make the best decision for their unique situation.