2008 Advanced Grain Procurement Short course

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May 13, 2008
NCI Procurement Short Course Gives Participants Tools to Manage Risk
Fourteen participants from eight nations are at Northern Crops Institute (NCI) this week to learn how to improve their risk management when making U.S. grain purchases. The 2008 Advanced Grain Procurement Strategies short course runs from May 12-16. Short course participants are from Brazil, Italy, Monaco, Nigeria, South Africa, Trinidad, USA, and Venezuela. They represent flour mills, food processing and grain supply companies. “This course is designed to help our participants reduce risk for their company,” says John Crabtree, NCI assistant director and coordinator of short courses. “We are living in very volatile times. The volatility in prices, supplies, and oil prices is causing food companies to reevaluate their inventories of grains and oilseeds. They might do this through using the futures markets to hedge their purchase, or by working closer with their grain supplier. More and more companies are putting together a risk management program.” “This year is the first time we’ve had U.S. participants in this course. Country elevators and grain handlers have the same risk that end-users have. They have to protect themselves against risk, too,” Crabtree concludes. Dr. William Wilson, NDSU Department of Agribusiness and Applied Economics, is the lead lecturer. Wilson is an expert in commodity futures trading and consultant to the international grain and food processing industries. Additional speakers include: Dr. David Bullock, FC Stone, Inc.; Neal Fisher, N.D. Wheat Commission; Mike Krueger, The Money Farm; Rick Dusek and Mike Klein, both CHS Inc.; Sean Hower, BNSF Railway; Dr. John Oades, U.S. Wheat Associates; and Curtis Hanson, Trade Acceptance Group, Ltd. On Monday, the group toured the Alton Grain Terminal, a shuttle train facility at Hillsboro, N.D., hosted by Cory Tryan and Mark Wild. The short course is designed to examine various price risk management tools and trading strategies. The participants will spend the week learning about basis analysis, options, over-the-counter contracts, grain situation and outlook, quality and contract specifications strategies, logistics risk management, trade financing, and buyer/seller relations in grain procurement. At the end of the week, participants will break into teams and compete in options trading games. # # # Link to Short Course Photos

For Immediate Release

May 13, 2008

NCI Procurement Short Course Gives Participants Tools to Manage Risk

Fourteen participants from eight nations are at Northern Crops Institute (NCI) this week to learn how to improve their risk management when making U.S. grain purchases. The 2008 Advanced Grain Procurement Strategies short course runs from May 12-16.

Short course participants are from Brazil, Italy, Monaco, Nigeria, South Africa, Trinidad, USA, and Venezuela. They represent flour mills, food processing and grain supply companies.

“This course is designed to help our participants reduce risk for their company,” says John Crabtree, NCI assistant director and coordinator of short courses. “We are living in very volatile times. The volatility in prices, supplies, and oil prices is causing food companies to reevaluate their inventories of grains and oilseeds. They might do this through using the futures markets to hedge their purchase, or by working closer with their grain supplier. More and more companies are putting together a risk management program.”

“This year is the first time we’ve had U.S. participants in this course. Country elevators and grain handlers have the same risk that end-users have. They have to protect themselves against risk, too,” Crabtree concludes.

Dr. William Wilson, NDSU Department of Agribusiness and Applied Economics, is the lead lecturer. Wilson is an expert in commodity futures trading and consultant to the international grain and food processing industries.

Additional speakers include: Dr. David Bullock, FC Stone, Inc.; Neal Fisher, N.D. Wheat Commission; Mike Krueger, The Money Farm; Rick Dusek and Mike Klein, both CHS Inc.; Sean Hower, BNSF Railway; Dr. John Oades, U.S. Wheat Associates; and Curtis Hanson, Trade Acceptance Group, Ltd.

On Monday, the group toured the Alton Grain Terminal, a shuttle train facility at Hillsboro, N.D., hosted by Cory Tryan and Mark Wild.

The short course is designed to examine various price risk management tools and trading strategies. The participants will spend the week learning about basis analysis, options, over-the-counter contracts, grain situation and outlook, quality and contract specifications strategies, logistics risk management, trade financing, and buyer/seller relations in grain procurement. At the end of the week, participants will break into teams and compete in options trading games.

# # #

Link to Short Course Photos