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    Deploying Arena’s sophisticated FX capabilities to hedge its export business is just the latest chapter in the success story of one of the UK’s leading farmer-owned grain trading businesses.


    Wessex Grain Ltd, the farmer-owned business that’s become one of the UK’s top ten grain suppliers, turned to Lloyds Bank for the innovative e-trading solution it needed to protect its growing business abroad.

     

    Launched in 1980 by 45 Somerset and Dorset farmers, it trades today with around 900 farmers, purchasing grain from growers and selling to animal feed producers, flour and oat millers, maltsters and oil crushers, with about 18% of its business now in exports dispatched through south coast ports.


    Supported by Lloyds Bank for its growing currency requirements, Wessex Grain recently migrated to the Bank’s new e-solution platform, Arena. It’s tailor-made for customers to trade currency in realtime, as well as providing high quality information, news and interactive analysis tools to enhance their risk management.


    Managing Director Simon Wilcox is impressed: “Arena makes dealing in foreign currency very straightforward. When we sell a grain shipment to Europe, we’re effectively selling forward by between six and 18 months. With Arena, we can instantly see the rate we’re selling at. So we’ll hedge those euros to protect our margin.

     

    “It’s important to create certainty where you can. Lloyds Bank has not only helped us to grow the business, they’re helping us to protect that growth.”

7/18/2019 1:38:03 AM