Inventors:
Gary Reding - Minnetonka MN, US
Kent Beadle - Hudson WI, US
Chris Nikkel - South Minneapolis MN, US
Mark Schulze - Edina MN, US
Walker Humphries - Edina MN, US
Dave Womeldorf - Lakeville MN, US
David Clark - Cambridge MA, US
Scott Cerreta - Framingham MA, US
Carl Ozkaynak - Quincy MA, US
Julia A. Granada Rodriguez - Waltham MA, US
Assignee:
Farms Technology, LLC - Overland Park KS
International Classification:
G06Q 40/00
Abstract:
An integrated virtual market is provided that facilitates communication between the producers of a given commodity and the parties wishing to purchase such commodities. This system provides real-time updated information about local pricing being offered by those purchasers. In addition, those producers can post offers that can automatically be accepted by purchasers and have contracts automatically generated. An important consideration from a purchaser's prospective is minimizing the risk associated with making such transactions. Due to this, futures contracts are often obtained. The virtual market system of the present inventions automatically requests and obtains futures contracts to hedge the contracts being generated.