NAPERVILLE, ILL. – The Connell Co. has discontinued its commodity advisory service, effective, Dec. 31, and two longtime Connell executives have established a new company to immediately carry on the business.

Robert Lindon, who was an executive vice-president at Connell, will be owner and chief executive officer of the new business — Foresight Commodities Services, Inc. Paul Meyers, who was vice-president of commodity analysis at Connell, will be the chief agricultural economist at Foresight.

Mr. Lindon said Foresight will be assuming all the accounts and business activity of Connell’s commodity advisory services, effective immediately.

“Our objective is serving companies with their commodity purchasing needs, offering analysis, strategy development and information,” Mr. Lindon said.

Mr. Lindon has 35 years of experience in the commodities business, commencing with work in commodities analysis and grains procurement for General Foods, starting in 1977. After holding positions with The Planning Economics Group and Dean Witter Reynolds, Mr. Lindon joined Connell in 1984, and has managed the commodity advisory service there since then.

A longtime participant in the annual Milling & Baking News Purchasing Seminar, Mr. Meyers was responsible for commodity research, analysis and consulting services to segments of agribusiness. He has particular expertise in cocoa, sugar, corn, wheat, the soy complex and corn sweeteners. Before joining Connell, Mr. Meyers was a grains analyst for the World Agricultural Outlook Board of the U.S. Department of Agriculture and was an economist with the Agricultural Stabilization and Conservation Service. With Foresight, Mr. Meyers will be based in Long Valley, N.J.

For Connell, the decision to discontinue its commodity advisory service marks the end of a business operation dating back half a century. The company’s roots, dating to the 1920s, are in the rice business, but Connell currently operates a number of divisions involved in rice and sugar, mining, real estate, finance and equipment leasing. The company is based in Berkeley Heights, N.J.