2006 Grain Procurement Short Course

Return to Home Page Return to News Release Page For Immediate Release September 29, 2006
Thirteen Nations Represented at Northern Crops Institute's Grain Buying Course
Fargo, ND, USA -- Crop buyers from thirteen countries and four continents are at the Northern Crops Institute (NCI) this week to study the U.S. grain marketing system. The “Grain Procurement Management for Importers” short course runs from Sept. 25 to October 4. The sixteen participants are from China, Colombia, El Salvador, Indonesia, Italy, Japan, Malaysia, Poland, Portugal, Spain, Thailand, USA, and Vietnam. They represent large and small food processing, feed manufacturing, and trading companies that import HRS wheat, durum wheat, corn, soybeans, barley and other commodities. Several participants are sponsored by U.S. Wheat Associates and the USDA Foreign Agriculture Service Cochran Fellowship Program. “It is really positive when we have people from so many different countries who can speak the same language because, in addition to all the course material they learn, they are able to learn from each other about procurement strategies, how business is done in other countries, and about each other’s cultures,” says Dr. Pat Berglund, Director of Northern Crops Institute. Study topics include U.S. grain handling and transportation system, cash and futures markets, basis, U.S. grain grading standards, basic hedging principles, options, commodity analysis, price risk management, quality specifications, alternative sources, financing imports, grain situation and outlook, logistics management, contracts and arbitration, managing ocean freight risk, and exporter tendering strategies. During the first week of the course, the group tours the Hunter (N.D.) Grain Company elevator with Paul Skarnagel and visits the Jim Howe farm near Casselton, N.D. During the second week, the course participants travel to Duluth, Minn., where they will tour the Duluth/Superior Port Facilities and the CHS Export Grain Terminal. During the tour of CHS, Inc. Barge Facility at Savage, Minn., Clint Gergen will explain the grain transport system on the Mississippi River. Trading games both at NCI and at the Minneapolis Grain Exchange (MGEX) are a special feature of this course. At the MGEX, Helen Pound of Goldenberg, Hehmeyer & Co., will lead the participants in a mock trading exercise on the Exchange floor and explain the fine points of grain trading. Speakers for the course are: Dr. William Wilson, NDSU; Art Boline, GIPSA/USDA; Darcy Rasmussen, N.D. Grain Inspection Service; Dr. David Bullock, Minn., Informa Economics; Dr. George Flaskerud, NDSU; Dr. John Oades, U.S. Wheat Associates; Jim Peterson, N.D. Wheat Commission; Mike Krueger, The Money Farm; Mark Francis, CoBank; Terry Garvert, Cargill; Sam Bonilla, Cargill; Ron DeJongh, AGP Grain; Rick Dusek, CHS; Mike Klein, CHS; and Mike Smith, Scoular Company. Northern Crops Institute supports regional agriculture and value-added processing by conducting technical education and services that expand and maintain domestic and international markets for northern-grown crops.

For Immediate Release

September 29, 2006

Thirteen Nations Represented at Northern Crops Institute's Grain Buying Course

Fargo, ND, USA -- Crop buyers from thirteen countries and four continents are at the Northern Crops Institute (NCI) this week to study the U.S. grain marketing system. The “Grain Procurement Management for Importers” short course runs from Sept. 25 to October 4.

The sixteen participants are from China, Colombia, El Salvador, Indonesia, Italy, Japan, Malaysia, Poland, Portugal, Spain, Thailand, USA, and Vietnam. They represent large and small food processing, feed manufacturing, and trading companies that import HRS wheat, durum wheat, corn, soybeans, barley and other commodities. Several participants are sponsored by U.S. Wheat Associates and the USDA Foreign Agriculture Service Cochran Fellowship Program.

“It is really positive when we have people from so many different countries who can speak the same language because, in addition to all the course material they learn, they are able to learn from each other about procurement strategies, how business is done in other countries, and about each other’s cultures,” says Dr. Pat Berglund, Director of Northern Crops Institute.

Study topics include U.S. grain handling and transportation system, cash and futures markets, basis, U.S. grain grading standards, basic hedging principles, options, commodity analysis, price risk management, quality specifications, alternative sources, financing imports, grain situation and outlook, logistics management, contracts and arbitration, managing ocean freight risk, and exporter tendering strategies.

During the first week of the course, the group tours the Hunter (N.D.) Grain Company elevator with Paul Skarnagel and visits the Jim Howe farm near Casselton, N.D. During the second week, the course participants travel to Duluth, Minn., where they will tour the Duluth/Superior Port Facilities and the CHS Export Grain Terminal. During the tour of CHS, Inc. Barge Facility at Savage, Minn., Clint Gergen will explain the grain transport system on the Mississippi River.

Trading games both at NCI and at the Minneapolis Grain Exchange (MGEX) are a special feature of this course. At the MGEX, Helen Pound of Goldenberg, Hehmeyer & Co., will lead the participants in a mock trading exercise on the Exchange floor and explain the fine points of grain trading.

Speakers for the course are: Dr. William Wilson, NDSU; Art Boline, GIPSA/USDA; Darcy Rasmussen, N.D. Grain Inspection Service; Dr. David Bullock, Minn., Informa Economics; Dr. George Flaskerud, NDSU; Dr. John Oades, U.S. Wheat Associates; Jim Peterson, N.D. Wheat Commission; Mike Krueger, The Money Farm; Mark Francis, CoBank; Terry Garvert, Cargill; Sam Bonilla, Cargill; Ron DeJongh, AGP Grain; Rick Dusek, CHS; Mike Klein, CHS; and Mike Smith, Scoular Company.

Northern Crops Institute supports regional agriculture and value-added processing by conducting technical education and services that expand and maintain domestic and international markets for northern-grown crops.