Dreyfus Teams With Banks for First Agriculture Blockchain Trade

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Harvested canola stalks stand at a farm near Balliang, Australia, on Saturday, Nov. 25, 2017. Canola output may be 2.9 million tons in 2017-18, 3.6 percent higher than previous estimates, according to the Australian Bureau of Agricultural & Resource Economics & Sciences.Photographer: Carla Gottgens/Bloomberg

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By Andy Hoffman and Ruben Munsterman

January 22, 2018 at 6:00 AM UTC

This article is for subscribers only.

The blockchain is now part of the route from farm to table.

Louis Dreyfus Co., one of the world’s biggest foodstuffs traders, teamed up with Dutch and French banks in December for what it says is the first agricultural commodity trade to use the ledger-based digital technology known as blockchain. The 166-year-old Rotterdam-based trading house used a blockchain platform to sell a cargo of U.S. soybeans to China’s Shandong Bohi Industry Co.