Elders Risk Management, which specialises in risk management for the producers and users of agricultural commodities, including grains, livestock, cotton and wool, had been a part of Elders Limited, which in turn, is a subsidiary of Futuris Corporation Ltd, Australia's largest agribusiness holding company.

Elders Risk Management has changed its corporate name to FCStone Australia Pty Ltd, and will join FCStone's other offices and divisions throughout the world, including its offices in China, Brazil, Ireland, and Canada, in providing its clients with access to global risk-management capabilities.

"As FCStone continues to expand its presence across the globe, FCStone Australia will put us in position to provide more extensive risk-management services to agribusiness organisations throughout Asia and Oceania, as well as provide new opportunities to our existing clients around the world," said Pete Anderson, FCStone's chief executive officer.

Elders' decision to sell the risk management operations to FCStone is a result of a shift back to the core services of Australia's leading agribusiness service provider.

"Elders is refocusing on what is does best, that is the provision of agricultural inputs, technical services and marketing options for our core agricultural markets," said John Molenaar, Elders Rural Services' head of Australia.