Back to all announcements

The J. M. Smucker Company selects FUTRAK for Agricultural Hedging and FAS133

INSSINC, a leading provider of FAS133 software, announced that The J. M. Smucker Company has selected FUTRAK to manage its wheat, soy oil, and natural gas hedges.

The J.M. Smucker Company is engaged in the manufacturing and marketing of branded food products on a worldwide basis, although the majority of the Company's sales are in the United States. The principal products of the Company, which are sold in both the Company's United States retail market segment and special markets segment, are peanut butter, shortening and oils, fruit spreads, flour and baking ingredients, baking mixes and ready-to-spread frostings, potato mixes, fruit and vegetable juices, beverages, dessert toppings, syrups, pickles and
condiments, and frozen sandwiches. Some of the trademarks of the Company include Smucker's, Jif, Crisco, Pillsbury, Martha White, Hungry Jack, Uncrustables, Dickinson's, Adams, Laura Scudder's, Goober, Bick's, Robin Hood, Golden Temple, Santa Cruz Organic, Spritzer, Simply Nutritious, Recharge and Red River.

“We have invested significantly in the R&D of our Agricultural module to ensure FUTRAK will be a leader in the soft commodity hedging and FAS133 space,” said Richard W. Kulaszewski, VP Sales at INSSINC. “It is satisfying to see agricultural companies recognize FUTRAK’s advantages, such as the ability to handle multiple types of commodities, capture transactions, track positions, generate journal entries, produce broker reconciliation statements, perform manual or automatic P&S, as well as all the FAS133 accounting needs, including Regression, Dollar Offset and Volumetric Effectiveness Testing in an auditable environment.”