Newsroom

Fall Symposium Planned for Sept 16 17Erica Venancio posted on 2/17/2010

TEGMA is working with the Surface Transportation Board's National Grain Car Council on plans for a "joint" meeting on September 16 and 17, 2010 in Omaha.   This would combine the annual meeting typically held by the Grain Car Council and TEGMA's traditional Fall Symposium. 

TEGMA Welcomes Two New MembersErica Venancio posted on 2/17/2010

The TEGMA Board of Directors approved two pending member applications during its meeting in Scottsdale on January 28.

Issues Committee Examines Current TopicsErica Venancio posted on 2/17/2010

TEGMA's recently created Issues Committee met in Scottsdale, Arizona, during the course of the association's annual meeting to review current industry issues. 

Attebury Honored for Lifetime AchievementsErica Venancio posted on 2/17/2010

TEGMA members honored Sam Attebury, chairman, Attebury Companies, Inc., of Amarillo, Texas, with the Association's Lifetime Achievement Award at the group's annual meeting on January 28, 2010 in Scottsdale, Arizona.

TEGMA Elects Knief as ChairmanErica Venancio posted on 2/17/2010

TEGMA members have elected Bob Knief, senior vice president, Bartlett Grain Company based in Kansas City as Chairman for 2010 at the association's annual meeting on January 28, 2010.  Knief had previously served two years as first vice president. 

Annual Meeting Judged a Huge SuccessErica Venancio posted on 2/17/2010

An excellent attendance of over 100 people participated in TEGMA's 2010 annual meeting held January 28 and 29 at Marriott's Camelback Inn in Scottsdale, Arizona.  TEGMA welcomed an outstanding group of guest speakers on a variety of timely topics.

New MembersErica Venancio posted on 9/23/2009

TEGMA Chairman Mike Mandl said the association is pleased to welcome three new members.

• ADM Grain Company
• Cereal Food Processors
• Watco Companies, Inc.

TEGMA Fall Symposium a Huge SuccessErica Venancio posted on 9/23/2009

TEGMA continued to build on its past success with one of its best ever Fall Symposiums which was held September 9 and 10, 2009 in Kansas City.  A record 75 members and colleagues attended the session which featured a number of well-known experts.

• Bill Helming, Bill Helming Consulting Services, "What Goes Up Eventually Comes Down:" The veteran ag economist made a strong case for the public to prepare for a serious and painful modern day depression in 2010-2014 with further major declines in home, commercial, and farm values. He expects a total average decline in home values from the peak in 2006 to the projected bottom in 2010-2012 will be 45 to 55 percent. He recommended for those still in the stock market to exit now; he expects the Dow-Jones Industrial Average to bottom at 3,500 to 4,000 within the 2010-2012 time period. What to do? Helming counseled, "Hope for the best, plan for the worst, think positively. Be optimistic, but be very realistic in these changing times."

• Bernardo Ayala, vice president, Mexico Marketing & Sales, Union Pacific Railroad, "Mexico: Challenges and Opportunities:" Ayala said agricultural products account for 35 percent of the company's revenue from the Mexico market, ranking it ahead of automotive, industrial products, chemicals, and other segments. The Mexican economy has struggled over the last year in direct relation to the recession plaguing the U.S. and other nations. Mexico's GDP fell by 10.4 to 1.4 percent in 2009; the economy is expected to post a positive gain of 1.2 to 2.7 percent in 2010. Mexico's agricultural markets are currently experiencing softness and suffered from a severe drought in the second half of 2009. In the future, Ayala looks for increased demand for food and whole grains with Mexican rail customers upgrading and expanding their facilities. Those customers are looking for exports to international markets. Mexico's rail industry faces challenges on several fronts: aging infrastructure; drug smuggling, theft and vandalism; border process; and operating practices.

• Steve Whitney, vice president, Sales-Carload, Canadian Pacific, "Rail Service Update: CP Rail is Expanding its Footprint and Streamlining its Service." As an overview of the company and its business, Whitney said: CP had pro-forma total revenues of $5.2 billion in 2008; has a global reach through ports of Vancouver, Montreal and New York; prime connections to U.S. railroads; enhanced network reach through the DM&E to several key U.S. Midwest markets; and in 2008 had 16,798 employees in more than 1100 communities and over 15,500 miles of track. The company's U.S. footprint has grown with the acquisition of the DM&E. When the DM&E grain volume is added to that of the Soo Line, U.S. grain represents 50 percent of CP's total grain volume. The CP's grain hopper fleet stands at about 24,000 cars, plus about 4,000 from the DM&E. Velocity improvements are enabling improvements in fleet quality, allowing CP to target its oldest, least productive cars for return. In addition, CP is in the midst of a five-year program to replace obsolete gates on about 2,500 hoppers and refurbish gates on about 3,500 hoppers.

• Thomas Brugman, section chief, Rail Customer and Public Assistance Program, Surface Transportation Board, "Updates on the National Grain Car Council and the Rail Customer and Public Assistance Program:" Brugman explained that the Rail Customer and Public Assistance Program (RCPAP) is free and an informal alternative to litigation. The most common issues handled by the program are: rail service problems, abandonment-loss of service, rates and fuel surcharges, denial of service, embargoes, claims, demurrage and many others. Carrier and shipper participation in the program is voluntary. The National Grain Car Council, Brugman said, meets at least annually to conduct a continuing dialog on grain car service and supply issues to the STB. The size of the Council is not less than 40 members composed of shippers, carriers private car owners and car manufacturers. The Council is currently working on a white paper which will examine changes in the rail grain shipping markets over the last decade. As a starting point, seven subjects are being examined for their impact on rail grain transportation: evolution of the grain market; role of locomotive development; role of grain car development; role of unit train development; private vs. system cars; role of technology; and capital investment by agriculture and railroad industries. Comments or suggestions can be sent through TEGMA to Tim McNulty of CSX who is the chairman of the White Paper Committee for the NGCC.

• Dave Vander Griend, president & CEO, ICM, Inc., "Ethanol Industry Outlook: More Food, Less Carbon:" Vander Griend briefly reviewed ethanol's rapid ascent with Congressional passage of the Energy Independence and Security Act of 2007 which, among other things, mandates corn ethanol production of 15 billion gallons by 2015. The ethanol industry for the last 12 months has been under serious economic pressure. At the present time, those plants with modest debt should be operating at a modest profit. Vander Griend noted the nation can easily supply both food and fuel needs from the nation's corn crop and is headed toward a corn surplus. He pointed out in converting corn to ethanol about half of the consumption is returned in the form of DDGs. Thus, for every two acres of corn converted to ethanol there is only one acre of feed grain displacement. He said the U.S. EPA should approve the E-15 Green Jobs Waiver, noting that carbon reduction is possible with today's technology. Vander Griend said ICM has proposed a market-based solution for a low carbon fuel standard where phase I would require a 2.3 percent reduction of carbon dioxide emissions from the gasoline baseline by 2015 and phase II would require a 4.9 percent reduction by 2022. In conclusion, he said domestic ethanol production does reduce imported oil needs, creates U.S. jobs, reduces tailpipe emissions and smog, and ethanol from starch has net carbon comparable to all energy crops (including cellulosic).

• Kevin Barth, president, Commerce Bank, "Economic Outlook - Will Agriculture and the Midwest Fare Better than Most?" Barth looked at the roots of the current recession which was triggered by increasing personal consumption largely financed by others through excessive leverage. The U.S. agricultural economy, though, has outperformed the general economy with strong global demand, low inventory levels, and high ethanol demand. Strong net farm income in 2008 allowed farmers to increase land holdings, purchase equipment and payoff debt. According to the survey of the Federal Reserve's 10th District Ag Credit Conditions, the farm economy remained solid in the 2nd quarter after softening from 2008. In addition, land values are holding firm and the supply of farms for sale is limited. Grain prices are lower with reduced exports and good growing conditions. There should be ample funds to satisfy a modest rise in loan demand. Barth said the near-term outlook for U.S. agriculture includes these key elements: the U.S. & world economies should stabilize in 2010, world GDP in emerging markets should fuel ag recovery, growth should resume in 2011, and a return to growth should expand demand for alternative energy. In looking at the availability of commercial credit, he said banks now face increased regulatory scrutiny and there are fewer banks. In addition, there is increased awareness of risk which is reflected in the terms for financing: increased spreads & fees, lower LTVs, shorter maturities, emphasis on reducing concentrations, banks are re-evaluating business lines, and a back to basics philosophy from banks.

• "Operational and Business Issues Facing the Grain Industry," a panel discussion.

 *Several of the meeting presentations are available online and can be found by clicking here.*

TEGMA Annual MeetingErica Venancio posted on 9/23/2009

TEGMA will hold its 2010 annual meeting on January 28 and 29 at Marriott's Camelback Inn in Scottsdale, Arizona.

Industry NewsErica Venancio posted on 9/23/2009

TEGMA Welcomes New MembersErica Venancio posted on 5/27/2009

TEGMA is delighted to welcome two new regular members, Gavilon Grain, LLC, and West Plains Co.

TEGMA Fall Symposium Set for Sept 9 and 10 in KCErica Venancio posted on 5/27/2009

TEGMA will hold its Fall Transportation Symposium on September 9 and 10 in Kansas City at the InterContinental Hotel on Country Club Plaza.

New Faces New Priorities at USDAErica Venancio posted on 5/27/2009

As the Obama Administration begins to fill out the ranks of the top political appointees at USDA a picture is emerging that this won't be a USDA populated by your typical representatives of commercial agriculture. 

CFTC to Address Convergence IssuesErica Venancio posted on 5/27/2009

Poor convergence in the agriculture markets continues to attract concern and the CFTC has announced it has appointed a committee to bring together relevant information on the potential causes and help investigate possible solutions.

Report on Febr 26 Meeting with BNSFErica Venancio posted on 3/3/2009

Twenty TEGMA member representatives and guests met with key staff from the Burlington Northern Santa Fe Railway's Ag Products staff at the company's Fort Worth headquarters on February 26.  A list of the attendees is attached.  The agenda included these topics:

1. Operations and equipment issues.
2. Demurrage, storage, and extended services.
3. U.S. economic outlook.
4. Grain marketing issues.

 The following are highlights from the meeting.

 Operations and Equipment Issues

• Shuttles represent 70 percent of the BNSF's grain business.
• Velocity is improving.  For the third week in a row, they have reached 2.9 trips per week.  Velocity in 2008 was up 8.4 percent from 2007.  For 2009 to-date, velocity is up 6 percent compared to 2008.
• Averaging a pick-up time of 7.5 hours after notification the shuttle is ready for release (dwell hours).
• On time performance in 2008 was just under 75 percent.
• New customer communication initiative is resulting in better coordination and less duplication of effort.
• Planning a new pilot program to create greater incentive to companies for improved origin performance.

Demurrage, Storage and Extended Services

• Goal is to maximize efficiency of cars in service.  The goal is not to see how much demurrage can be collected.  Cost control is an imperative.
• The dwell hours (loading/unloading time) is sharply lower for private cars, suggesting there are still efficiencies to be gained in this area.

U.S. Economic Outlook

• Economy is on life support.  The economy depends on credit and consumer spending.  Banks have sharply curtailed lending, bring much economic activity to a halt.
• Housing starts are down 80 percent and have not yet hit the bottom.  Fewer housing starts means less lumber to move by rail.  Auto production is down over 60 percent.  Retail sales were off by 9 percent in the fourth quarter of 2008.
• Japan's exports are down 50 percent.
• Not quite a depression yet, but it could be.  Twenty percent probability for a deeper and longer recession.  The government bailout may be distasteful, but there is little alternative.
• Diesel fuel cost down sharply.
• West Coast container exports down 30 percent in December 2008.
• 2009 GDP for U.S. estimated at a negative 2.7 percent.  China's GDP for 2009 is estimated at over 6 percent and this strength is critical to the global economy.  While China's GDP is a strong positive, it is off from much stronger numbers.
• AAR estimates rail volume is a negative 16.1 percent for January 2009.  BNSF traffic is not down as sharply as is the case for other carriers.  Coal volume remains very steady.
• BNSF management guiding principles for managing this business cycle
• Continue maintenance capital program
• Service
• Customers
• Investors
• Reduce expenses
• Equipment
• People
• Maintain financial flexibility
• Position for eventual recovery

Grain Marketing Issues

• Shuttle capacity - expect another 8 to 9 shuttle facilities to come on line in 2009.  Very pleased with investments companies are making to be part of the BNSF shuttle program.
• Fleet - there are 11,000 grain cars in storage and 35,000 freight cars in storage.  There are 700 locomotives in storage.  The BNSF total grain car fleet is 30,000 cars.
• Cost controls - 2,500 employees have been furloughed.  There will be no merit salary increases this year.
• Exports seem to be coming back.  Shipments to Mexico are down.
• Very focused on fine tuning forecasts.  When corn does begin to move will there be quality issues from storage?  Hope poultry industry has bottomed-out.  Dairy animal numbers will likely continue to decline.
• Want to be positioned to move the grain when it is ready to move.
• Recent shuttle auctions have been for two-year commitments; will be one-year auctions, as well.

Enclosure:  BNSF Meeting Attendees

TEGMA Plans Grain Rail Task Force Meeting Feb 26Erica Venancio posted on 2/9/2009

TEGMA Chairman Mike Mandl has announced that the Association will hold a meeting of its Grain-Rail Issues Task Force on February 26 at the Burlington Northern Santa Fe Railway offices in Fort Worth, Texas  This represents a continued step under TEGMA's new initiative to address operational and business issues affecting its members, Mandl said.

TEGMA Re Elects Mandl as Chairman for 2009Erica Venancio posted on 2/9/2009

TEGMA members re-elected the current slate of officers for a second, one-term at the association's annual meeting on January 28, 2009 in Scottsdale, Arizona. 

TEGMA Annual Meeting a Resounding SuccessErica Venancio posted on 2/9/2009

TEGMA's 2009 Annual Meeting featured an excellent program and attendance, prompting Chairman Mike Mandl to declare the meeting a resounding success and a key step in TEGMA's re-building effort.  The January 28/29 session at Marriott's Camelback Inn in Scottsdale, Arizona was TEGMA's first stand-alone meeting in some 50 years.  Sixty-five people signed up for the event.

Mandl told the group, "The last year has been an eventful and productive one for the organization.  A lot of people have put in a lot of hard work to better position TEGMA to re-establish itself in these ever changing times.  In order to do so, TEGMA needs to be relevant and provide value to its members.  We defined that relevance in the revision of the mission statement, which reads as follows:

TEGMA seeks to provide a forum where the grain-based agribusiness industry can debate, discuss and facilitate resolution of operational and business issues bringing insight to its membership and stakeholders."

Grain Market Prospects for the Coming Year:  Surviving the Wild Commodity Ride We Are On:   Bill Lapp, principal, Advanced Economic Solutions, said he expects the nation's GDP to hit one of the lowest levels ever for the last quarter of 2008, to remain negative in the first quarter of 2009, but then to begin rebounding later in 2009.  The world economic recovery, he said, will precede the United States' recovery.  Key drivers of food commodities in the next year:  value of the U.S. dollar, extent of global economic slow-down, acreage battle and production shifts in 2009, U.S. weather in 2009 and beyond, and government bio-fuels policy.  The answers to these uncertain factors probably contain more upside than downside from current levels.  Lapp said corn availability in 2009/2010 could be extremely tight with only 88 million acres, leading to a likely rebound in prices.

The Financial Crisis and Its Affect on Commodity Lending:  Pete Lopoukhine, director, Structured Trade Finance, Lloyds Bank TSB, said the United States was facing its most significant economic crisis since the Great Depression.  All in all, it is probably a healthy adjustment, he said, but it presents a very challenging time with debt and equity markets at a virtual standstill.  Lloyds TSB is an established bank based in the United Kingdom that re-entered commodity lending in 2008.  Lopoukhine said all banks are looking at credit risk much more closely.

Railroad Industry Trends:  Darius Gaskins, partner, Norbridge, Inc., and former president of the Burlington Northern Railroad, looked at the broader trends facing the rail industry.  He said the rail industry in general is as sound today as any sector and most carriers are in relatively good condition.

·      Grain and coal carloadings rose slightly in 2008.

·      Industrial production has fallen dramatically and the outlook is dark in the near term.

·      Looking to the future, proposed climate change legislation will change the market.  Real carbon reductions will decimate the demand for coal and cause costs for electricity production to skyrocket.

Performance of the Agricultural Markets and Potential Contract Changes:  David Lehman, director of Commodity Research and Product Development for The CME Group, outlined the evolution of The CME Group, which now includes the former Chicago Board of Trade and New York Mercantile Exchange, and the key commodity issues facing the exchange.  In looking at historical basis levels for key grains, Lehman noted that futures and cash prices are showing economically rational behavior as they better converge at expiration of the futures contract.  The CME Group has increased storage rates for wheat, soybeans, and corn and haas approved several additional steps for the wheat contract:  adding three new delivery territories, implementing seasonal storage rates, and gradually tightening the permissible vomitoxin levels.  Changes still being reviewed include dynamic storage rates, modified compelled load-out, and cash settled futures.

Change Comes to Washington, DC:  David Lyons, vice president for government relations, Louis Dreyfus Commodities, said change has been coming for several years leading up to the election of 2008.  That 2008 election was historic and its outcome was likely determined with the onset of the financial crisis in mid-September.  Lyons said we live in interesting times and are entering a period of:

·      Bigger, more intrusive government,

·      More government regulation of markets and probably other aspects of U.S. life,

·      Less reliance on free and open markets to allocate resources,

·      Increased government spending and massive government debt, and

·      Extremely uncertain economic outlook.

Overview of Developments in the Official Grain Inspection System and Current Issues:  Randall Jones, deputy administrator of USDA's Federal Grain Inspection Service covered a number of key topics.

·      With a high percentage of its workforce reaching retirement age and the advent of technology FGIS is taking steps to centralize many services.

o        One element is more web-based applications, termed FGISonline, with the goal of bringing official inspection and weighing to the desktop.

o        Another element is development of the National Grain Center in Kansas City as more of a hub for FGIS services.

·      Quality management program - FGIS is collaborating with official service providers to incorporate principals of modern quality management programs into the official system.

·      Contract/load order comparison - FGIS will be checking compliance with GIPSA policy that export load orders reflect contract specifications.

·      Study regarding use of contractors for export services - FGIS has found no long-term savings to exporters from the use of contractors at export locations.  A final report on the subject should be ready very soon.

·      Sorghum odor - issues have developed with the application of the current inspection line on sorghum odor.  FGIS' goal is to ensure that the odor line continues to facilitate marketing and the agency will soon be appointing a task force to further explore the matter.  The objectives are to ensure the odor line reflects market needs and ensure consistency in application throughout the official system.

Arizona Agriculture, Ethanol, and Markets:  John Skelley, general manager, Pinal Energy, LLC, began by tracing the changes in Arizona agriculture.  Forty years ago, Arizona agriculture was characterized by the four Cs - copper, cotton, cattle, and citrus.  Many of the feedlots then were small and water was cheap.  Arizona agriculture today has:  (1) much more expensive water; (2) a burgeoning dairy industry with very large milking herds (average size of 1,331 cows per dairy); (3) fewer, but larger cattle feedlots that feed out mostly Holsteins.  Volatile grain markets have led to a dairy industry under duress.  The ethanol industry is also facing a difficult economic situation - the basis today for corn is much higher than envisioned in the original economic model.  He expects additional ethanol plant closings as ethanol producers adapt to the economic realities.

Operational and Business Issues Facing the Grain Industry, a panel discussion featuring:  Mark Huston, director of North America transportation, Louis Dreyfus Commodities; Larry Kittoe, president, DeBruce Grain, Inc.; Ryan Pellet, executive vice president, J.D. Heiskell & Co.; Al Vergin, general director-wheat and products, BNSF Railway; and Eric Wilkey, president, Arizona Grain, Inc.  The panel shared their views on a variety of topics posed by Bob Petersen, panel moderator.  Highlights from that discussion are as follows:

Question 1.        W hat are your top three everyday headaches that fall into the category of business and operational issues?

Panel grain responses:  Credit availability/counterparty risk, especially in Mexico.  Right-sizing the company's rail freight deck, operating the company's logistics within the windows allowed by the railroad car ordering systems.  Trying to trade deferred without knowing rail rates, fuel surcharge; taking on long-term freight commitments without knowing rates; passing of liabilities/assessorial charges including -- inaccurate Umler tare weights; track leases/agreements very one- sided; moving locomotives; railcar contamination tariff. 

Panel rail carrier response:  Maximizing train size - shuttles should be a minimum of 110 cars; resource planning - balancing fleet size with car orders, critical with managing cost, however will err on the side of customer expectations; pipeline management - commodity sequencing, slot planning, information sharing; and forecasting car demand

Question 2.         For grain companies, what are the three things railroads are doing right? 

Panel responses:  service has greatly improved, as have velocity and consistency; carriers are providing quality equipment, building capacity and reinvesting in their systems; ETA's have improved, but further improvement is still needed; systems and technology continue to improve.

Question 2(a).   What are the three things where you would like to see improvement?

Panel responses:  reduce the attempts to pass through liability; publish rates out forward to be able to trade on; keep accessorial charges reasonable.

Question 2.         For rail carriers, what are the three things customers are doing right?

Panel response:  investments in capacity, velocity, and efficiencies; logistics, pipeline management have improved; loading/unloading customer improvements; much improved communication; and jointly managing exceptions 

Question 2(a).   What are the three things where you would like to see improvement?

Panel response:  improve timeliness of non-shuttle order placement; need assistance in developing longer, more efficient trains; set the bar higher in pipeline management, need to continually improve velocity; most of all if they have an issue such as constructive placement, demurrage, OEP, or DEP, promptly communicate concern - it alleviates future misunderstanding and time consuming reconciliation

Question 3.         Given the challenging economic times that 2009 has brought, are there areas where carriers and grain companies can work together better in facing these challenges?

Panel responses:  Railroads should share the value savings of efficiency improvements; there needs to be a balance where railroads can plan and forecast resources while the industry maintains the flexibility necessary to respond to the world market.

Panel rail carrier responses:  balancing fleet size; longer trains; and communication of potential demand.

Question 4.         On a related note, as we look at the working relationship between grain companies and rail carriers, what are three longer term trends you see developing - positive or negative?

Panel grain responses:  on the positive side, carriers and grain firms seem to do a good job of communicating market observations.  On the negative side, a major item is the emphasis on the passing on of liabilities.

Panel rail carrier response:  full pipeline visibility and more efficient matching of origin and destination demand; risk sharing - tougher to find middle ground with enhanced visibility (origin report cards), customer needs to have direct communication with multiple departments within railroad such as demurrage, accounts receivable, operations, marketing, and utilize electronic tools; and safety.

Question 5.         Where can TEGMA play a constructive role that brings value to your company in 2009?

Panel responses:  continue to develop as a constructive venue for members to interface on non-rate business issues with the carriers.  Create a clearinghouse for industry and railroad issues.  Continue with small group meetings which focus on individual carriers.

We Thank Our Sponsors

An important part of TEGMA's improved financial condition, according to President Bob Petersen, is the excellent support of members in sponsoring key events at the meeting.  TEGMA again extends its thanks to these leading companies for their support of the Association's annual meeting.

Thursday Meeting Break
NIK Marketing Cooperative

Reception
Arizona Grain, Inc.
Bartlett Grain Co.
DeBruce Grain
J.D. Heiskell & Co.

Banquet
Champaign Danville Grain Inspection
Louis Dreyfus Corporation
Port of Corpus Christi
The Scoular Company

Friday Meeting Break
Union Pacific Railroad

Speaker Presentation 
BNSF Railway Co.

TEGMA Schedules Meeting with UPErica Venancio posted on 11/14/2008

TEGMA is planning a Grain-Rail Task Force meeting on Wednesday, December 10, with the Union Pacific Railroad in Omaha to discuss current business and operational issues facing the grain-rail sector.

Annual Meeting Set for January 29 30 in ArizonaErica Venancio posted on 11/14/2008

TEGMA’s Board of Directors has set January 29 and 30, 2009 as the date for the association’s annual meeting.  The meeting will be held at Marriott’s Camelback Inn in Scottsdale, Arizona.  The meeting general sessions will be held on Thursday afternoon, January 29, and Friday morning, January 30.  The hotel room rate is $249 per night.

STB to Review Competition in the Railroad IndustryErica Venancio posted on 11/14/2008

The U.S. Surface Transportation Board met Nov. 6 to discuss an independent study assessing the current state of competition in the freight railroad industry.

CN Begins Operating DM and EErica Venancio posted on 11/14/2008

Canadian Pacific Railway Limited on Nov. 6 celebrated the first day of operational control of recently acquired Dakota, Minnesota & Eastern Railroad Corporation and its subsidiaries: Iowa, Chicago & Eastern Railroad and Cedar American Rail Holdings.

Minneapolis to Close Trading PitErica Venancio posted on 11/14/2008

The Minneapolis Grain Exchange announced October 24 that its Board has voted to close the exchange’s historic, open outcry trading pits effective December 19.  

TEGMA Fall Symposium A SuccessErica Venancio posted on 10/1/2008

The September 24/25, 2008 meeting was very successful. We co-hosted with the Commodity Markets Council (CMC) - Energy Drives Everything, and it was held at the InterContinental in Kansas City, MO. We had a strong program and excellent attendance - the best attendance we have had for many years. As a result, we have wonderful momentum developing as we work to re-invigorate the association and strengthen its value proposition.

Grain Association Names Petersen as PresidentErica Venancio posted on 6/17/2008Headquarters to Re-Locate to Kansas City

Letter to MembersErica Venancio posted on 6/13/2008

I am pleased to report that the Board of Directors of TEGMA, after careful deliberation, has decided to hire Petersen Consulting to provide administrative services to the group.