- Investment will offer customers access to predictive analytics
CHICAGO, July 21, 2015—Archer Daniels Midland Company (NYSE: ADM) announced today that it has purchased a stake in Agrible, Inc., a leader in predictive analytic tools that deliver field-specific data and forecasts to aid decision-making in the field.
“The addition of precision data analytics is yet another way in which ADM is using innovative technology to help our customers and our company succeed,” said Brian Young, president, ADM Crop Risk Services. “We’re seeing strong interest among farmers for new, better data and analytical tools. Adding Agrible’s predictive data products to our suite of farmer tools will help us meet that demand. We believe Agrible’s technology is unique compared with the agriculture analytics tools available in the marketplace today. We’re excited to bring these new tools to our farmer partners.”
“We have assembled a great set of products developed by a world-class group of agricultural engineers, computer science experts, and exceptional atmospheric scientists,” said Chris Harbourt, CEO of Agrible, Inc. “We are proud to be growing our company here in the Midwest, and are excited to work with ADM and continue towards our common goal of helping growers.”
Agrible products—including its flagship Morning Farm Report—include data and predictive analysis for rainfall, temperature, growing-degree days, field conditions and sophisticated yield modeling. The company offers the information in a variety of easy-to-use formats with an interactive website, reports and e-mail delivery.
About ADM Crop Risk Services
Since 1982, ADM Crop Risk Services has offered crop insurance through licensed independent agents, providing farmers with affordable crop income protection, superior service and utmost integrity.
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we’re one of the world’s largest agricultural processors and food ingredient providers, with more than 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 460 crop procurement locations, 300 ingredient manufacturing facilities, 40 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, chemical and energy uses. Learn more at www.adm.com. Original news release at http://www.adm.com/news/_layouts/PressReleaseDetail.aspx?ID=670