Advanced Grain Procurement Strategies Short Course

May 8-12, 2006

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First day of class at Northern Crops Institute always begins with a photo. Six nations were represented at the Advanced Grain short course.

Fourteen crop buyers represent leading flourmills, feed mills, and trading companies in Germany, Japan, Mexico, Singapore, Taiwan and USA.

John Oades, U.S. Wheat Associates, Portland, discusses contract specifications for wheat imports.

Mike Krueger, owner of The Money Farm, updated the participants on the grain situation and outlook.

Ricardo Garcia, FC Stone, Kansas City, discussed corn purchasing strategies in a special break-out session with the Mexican delegation. Julie Hernandez, Technical Director for U.S. Grains Council, Mexico, escorted the Mexican delegation.

Dr. Dave Bullock, Minnesota Department of Agriculture, demonstrates the Monte Carlo Simulation software that course participants used to learn more about risk management.

The participants toured the Alton (N.D.) Grain Terminal, which is a shuttle train facility near Hillsboro, N.D.

Alton Grain Terminal manager Brad Kjar, (left), answers questions from the participants.

The Taiwan delegation works on their mock trading exercise. The Taiwan delegation was escorted by Ron Lu, (center), Taiwan Country Director for U.S. Wheat.

Chris Davis from Wells Fargo Bank, Minneapolis, explains strategies for managing foreign exchange risk in the international money market.