World Grain - September 2021 - 36

SOSLAND PUBLISHING
years
Later in the life of exchanges, trading
floors had electronic boards with
prices.
ity and the ease of clicking and doing
their own trade. Going through a broker
was more cumbersome, more costly and
more time consuming. "
Early on, electronic trading was like
the Wild West, with smart traders figuring
out ways to create an edge, said
Angie Setzer, co-founder and partner in
Consus, LLC, which provides individualized
marketing and agronomic solutions
to farmers and grain buyers. She
started her career as a cash grain broker
before becoming vice president of grain
for Citizens Elevator.
" For a lot of the big companies, the
lack of transparency was beneficial to
them, " she said. " That's what pushed
electronic trading at such a fever pace.
Early on I thought there's no way this
would replace us; the human element
was too important. I didn't imagine within
eight years we'd go from 90% pit traded
to 100% electronic. I never dreamed it
would go that fast. "
To the future
After electronic trading, there was much
talk about the possibility of blockchain, a
decentralized digital ledger with records
called blocks that is used to record transactions,
could replace existing trading
platforms. But that hasn't happened yet,
Ehmke said.
" Blockchain is a different type of technology
that records information along
the blockchain where you can see all the
transactions of a commodity that's being
traded, like crypto currency, " he said. " If
you can trade crypto currency, you can
trade a bushel of corn. Not so much. The
problem is how do you trace a bushel of
corn, because it is getting commingled
in the system. What bushel are you precisely
tracking? There's a limitation with
using that technology with commodity
trading. "
The purpose of blockchain is to make
things more efficient; that simply isn't
needed in commodity trading, Ehmke
and Setzer said.
" We already have something that is
36
September 2021 / World Grain / World-Grain.com

http://www.World-Grain.com

World Grain - September 2021

Table of Contents for the Digital Edition of World Grain - September 2021

World Grain - September 2021 - Intro
World Grain - September 2021 - 1
World Grain - September 2021 - 2
World Grain - September 2021 - 3
World Grain - September 2021 - 4
World Grain - September 2021 - 5
World Grain - September 2021 - 6
World Grain - September 2021 - 7
World Grain - September 2021 - 8
World Grain - September 2021 - 9
World Grain - September 2021 - 10
World Grain - September 2021 - 11
World Grain - September 2021 - 12
World Grain - September 2021 - 13
World Grain - September 2021 - 14
World Grain - September 2021 - 15
World Grain - September 2021 - 16
World Grain - September 2021 - 17
World Grain - September 2021 - 18
World Grain - September 2021 - 19
World Grain - September 2021 - 20
World Grain - September 2021 - 21
World Grain - September 2021 - 22
World Grain - September 2021 - 23
World Grain - September 2021 - 24
World Grain - September 2021 - 25
World Grain - September 2021 - 26
World Grain - September 2021 - 27
World Grain - September 2021 - 28
World Grain - September 2021 - 29
World Grain - September 2021 - 30
World Grain - September 2021 - 31
World Grain - September 2021 - 32
World Grain - September 2021 - 33
World Grain - September 2021 - 34
World Grain - September 2021 - 35
World Grain - September 2021 - 36
World Grain - September 2021 - 37
World Grain - September 2021 - 38
World Grain - September 2021 - 39
World Grain - September 2021 - 40
World Grain - September 2021 - 41
World Grain - September 2021 - 42
World Grain - September 2021 - 43
World Grain - September 2021 - 44
World Grain - September 2021 - 45
World Grain - September 2021 - 46
World Grain - September 2021 - 47
World Grain - September 2021 - 48
World Grain - September 2021 - 49
World Grain - September 2021 - 50
World Grain - September 2021 - 51
World Grain - September 2021 - 52
World Grain - September 2021 - 53
World Grain - September 2021 - 54
World Grain - September 2021 - 55
World Grain - September 2021 - 56
World Grain - September 2021 - 57
World Grain - September 2021 - 58
World Grain - September 2021 - 59
World Grain - September 2021 - 60
World Grain - September 2021 - 61
World Grain - September 2021 - 62
World Grain - September 2021 - 63
World Grain - September 2021 - 64
World Grain - September 2021 - 65
World Grain - September 2021 - 66
World Grain - September 2021 - 67
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World Grain - September 2021 - 70
World Grain - September 2021 - 71
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World Grain - September 2021 - 73
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World Grain - September 2021 - 97
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World Grain - September 2021 - 99
World Grain - September 2021 - 100
https://digital.world-grain.com/sosland/wg/world-grain-april-2024
https://digital.world-grain.com/sosland/wg/world-grain-march-2024
https://digital.world-grain.com/sosland/wg/world-grain-february-2024
https://digital.world-grain.com/sosland/wg/world-grain-january-2024
https://digital.world-grain.com/sosland/wg/world-grain-december-2023
https://digital.world-grain.com/sosland/wg/world-grain-november-2023
https://digital.world-grain.com/sosland/wg/world-grain-october-2023
https://digital.world-grain.com/sosland/wg/world-grain-september-2023
https://digital.world-grain.com/sosland/wg/world-grain-august-2023
https://digital.world-grain.com/sosland/wg/world-grain-july-2023
https://digital.world-grain.com/sosland/wg/world-grain-june-2023
https://digital.world-grain.com/sosland/wg/world-grain-may-2023
https://digital.world-grain.com/sosland/wg/world-grain-april-2023
https://digital.world-grain.com/sosland/wg/world-grain-march-2023
https://digital.world-grain.com/sosland/wg/world-grain-february-2023
https://digital.world-grain.com/sosland/wg/world-grain-january-2023
https://digital.world-grain.com/sosland/wg/world-grain-december-2022
https://digital.world-grain.com/sosland/wg/world-grain-november-2022
https://digital.world-grain.com/sosland/wg/world-grain-october-2022
https://digital.world-grain.com/sosland/wg/world-grain-september-2022
https://digital.world-grain.com/sosland/wg/world-grain-august-2022
https://digital.world-grain.com/sosland/wg/world-grain-july-2022
https://digital.world-grain.com/sosland/wg/world-grain-june-2022
https://digital.world-grain.com/sosland/wg/world-grain-may-2022
https://digital.world-grain.com/sosland/wg/world-grain-april-2022
https://digital.world-grain.com/sosland/wg/world-grain-march-2022
https://digital.world-grain.com/sosland/wg/world-grain-february-2022
https://digital.world-grain.com/sosland/wg/world-grain-january-2022
https://digital.world-grain.com/sosland/wg/world-grain-december-2021
https://digital.world-grain.com/sosland/wg/-world-grain-november-2021
https://digital.world-grain.com/sosland/wg/world-grain-october-2021
https://digital.world-grain.com/sosland/wg/world-grain-september-2021
https://digital.world-grain.com/sosland/wg/world-grain-august-2021
https://digital.world-grain.com/sosland/wg/world-grain-july-2021
https://digital.world-grain.com/sosland/wg/world-grain-june-2021
https://digital.world-grain.com/sosland/wg/world-grain-may-2021
https://digital.world-grain.com/sosland/wg/world-grain-april-2021
https://digital.world-grain.com/sosland/wg/world-grain-march-2021
https://digital.world-grain.com/sosland/wg/world-grain-february-2021
https://digital.world-grain.com/sosland/wg/2021_01_01
https://digital.world-grain.com/sosland/wg/2020_12_01
https://digital.world-grain.com/sosland/wg/2020_11_01
https://digital.world-grain.com/sosland/wg/2020_10_01
https://digital.world-grain.com/sosland/wg/2020_09_01
https://digital.world-grain.com/sosland/wg/2020_08_01
https://digital.world-grain.com/sosland/wg/2020_07_01
https://digital.world-grain.com/sosland/wg/2020_06_01
https://digital.world-grain.com/sosland/wg/2020_05_01
https://digital.world-grain.com/sosland/wg/2020_04_01
https://digital.world-grain.com/sosland/wg/2020_03_01
https://digital.world-grain.com/sosland/wg/2020_02_01
https://digital.world-grain.com/sosland/wg/2020_01_01
https://digital.world-grain.com/sosland/wg/2019_12_01
https://digital.world-grain.com/sosland/wg/2019_11_01
https://digital.world-grain.com/sosland/wg/2019_10_01
https://digital.world-grain.com/sosland/wg/2019_09_01
https://digital.world-grain.com/sosland/wg/2019_08_01
https://digital.world-grain.com/sosland/wg/2019_07_01
https://digital.world-grain.com/sosland/wg/2019_06_01
https://digital.world-grain.com/sosland/wg/2019_05_01
https://digital.world-grain.com/sosland/wg/2019_04_01
https://digital.world-grain.com/sosland/wg/2019_03_01
https://digital.world-grain.com/sosland/wg/2019_02_01
https://digital.world-grain.com/sosland/wg/2019_01_01
http://digital.world-grain.com/sosland/wg/2018_12_01
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http://digital.world-grain.com/sosland/wg/2018_08_01
http://digital.world-grain.com/sosland/wg/2018_07_01
http://digital.world-grain.com/sosland/wg/2018_06_01
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http://digital.world-grain.com/sosland/wg/2018_04_01
http://digital.world-grain.com/sosland/wg/2018_03_01
https://www.nxtbook.com/sosland/wg/2018_02_01
https://www.nxtbook.com/sosland/wg/2018_01_01
https://www.nxtbook.com/sosland/wg/2017_12_01
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https://www.nxtbook.com/sosland/wg/2016_12_01
https://www.nxtbook.com/sosland/wg/2016_11_01
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https://www.nxtbook.com/sosland/wg/2016_09_01
https://www.nxtbook.com/sosland/wg/2016_08_01
https://www.nxtbook.com/sosland/wg/2016_07_01
https://www.nxtbook.com/sosland/wg/2016_06_01
https://www.nxtbook.com/sosland/wg/2016_05_01
https://www.nxtbook.com/sosland/wg/2016_04_01
https://www.nxtbook.com/sosland/wg/2016_03_01
https://www.nxtbook.com/sosland/wg/2016_02_01
https://www.nxtbook.com/sosland/wg/2016_01_01
https://www.nxtbook.com/sosland/wg/2015_12_01
https://www.nxtbook.com/sosland/wg/2015_11_01
https://www.nxtbook.com/sosland/wg/2015_10_01
http://digital.world-grain.com/sosland/wg/2015_09_01
http://digital.world-grain.com/sosland/wg/2015_08_01
http://digital.world-grain.com/sosland/wg/2015_07_01
http://digital.world-grain.com/sosland/wg/2015_06_01
http://digital.world-grain.com/sosland/wg/2015_05_01
https://www.nxtbook.com/sosland/wg/2015_04_01
https://www.nxtbook.com/sosland/wg/2015_03_01
https://www.nxtbook.com/sosland/wg/2015_02_01
http://digital.world-grain.com/sosland/wg/2015_01_01
http://digital.world-grain.com/sosland/wg/2014_12_15
https://www.nxtbook.com/sosland/wg/2014_12_01
https://www.nxtbook.com/sosland/wg/2014_11_01
https://www.nxtbook.com/sosland/wg/2014_10_01
https://www.nxtbook.com/sosland/wg/2014_09_01
https://www.nxtbook.com/sosland/wg/2014_08_01
https://www.nxtbook.com/sosland/wg/2014_07_01
https://www.nxtbook.com/sosland/wg/2014_06_01
https://www.nxtbook.com/sosland/wg/2014_05_01
https://www.nxtbook.com/sosland/wg/2014_04_01
https://www.nxtbook.com/sosland/wg/2014_03_01
https://www.nxtbook.com/sosland/wg/2014_02_01
https://www.nxtbook.com/sosland/wg/2014_01_01
https://www.nxtbook.com/sosland/wg/2013_12_01
https://www.nxtbook.com/sosland/wg/2013_11_01
https://www.nxtbook.com/sosland/wg/2013_10_01
https://www.nxtbook.com/sosland/wg/2013_09_01
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https://www.nxtbook.com/sosland/wg/2013_07_01
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https://www.nxtbook.com/sosland/wg/2013_02_01
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https://www.nxtbook.com/sosland/wg/2012_12_01
https://www.nxtbook.com/sosland/wg/2012_11_01
https://www.nxtbook.com/sosland/wg/2012_10_01
https://www.nxtbook.com/sosland/wg/2012_09_01
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https://www.nxtbook.com/sosland/wg/2012_06_01
https://www.nxtbook.com/sosland/wg/2012_05_01
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https://www.nxtbook.com/sosland/wg/2012_03_01
https://www.nxtbook.com/sosland/wg/2012_02_01
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https://www.nxtbook.com/sosland/wg/2011_12_01
https://www.nxtbook.com/sosland/wg/2011_11_01
https://www.nxtbook.com/sosland/wg/2011_10_01
https://www.nxtbook.com/sosland/wg/20111_09_01
https://www.nxtbook.com/sosland/wg/2011_08_01
https://www.nxtbook.com/sosland/wg/2011_07_01
https://www.nxtbook.com/sosland/wg/2011_06_01
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https://www.nxtbook.com/sosland/wg/2011_04_01
https://www.nxtbook.com/sosland/wg/2011_03_01
http://digital.world-grain.com/sosland/wg/2011_02_01
http://digital.world-grain.com/sosland/wg/2011_02_01
http://digital.world-grain.com/sosland/wg/2011_02_01
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http://digital.world-grain.com/sosland/wg/2010_12_01
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http://digital.world-grain.com/sosland/wg/2010_10_01
http://digital.world-grain.com/sosland/wg/2010_09_01
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http://digital.world-grain.com/sosland/wg/2010_07_01
http://digital.world-grain.com/sosland/wg/2010_06_01
http://digital.world-grain.com/sosland/wg/2010_05_01
http://digital.world-grain.com/sosland/wg/2010_04_01
http://digital.world-grain.com/sosland/wg/2010_03_01
http://digital.world-grain.com/sosland/wg/2010_02_01
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http://digital.world-grain.com/sosland/wg/2009_12_01
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