Registration Deadline: August 18
Cost: $1,400
This eight-day course focuses on the mechanics of grain merchandising and is designed to educate individuals who are responsible for purchasing grain. Academic and commodity trade authorities lecture on cash and futures markets. Grain merchandisers guide you through the full complexity of the international grain markets. Opportunity to meet with grain merchandisers in Minneapolis. Participants receive a flash drive containing an outline of each presentation, copies of the visuals used, and other printed materials for future reference. The class also has on-site visits to a country elevator, an export grain terminal, and a barge facility.
Grain Procurement Management for Importers is designed for individuals who are responsible for purchasing grain. The eight-day course will focus on the mechanics of grain merchandising. Participants will receive a flash drive containing course materials for future reference.
Why Should You Attend?
One of the first steps in purchasing grain from the United States is to thoroughly understand the U.S. grain marketing system. By doing so, an importer can review the risks associated with various quality and price options. This course provides information that assists buyers in purchasing U.S. grain that meets quality requirements at the best value.
Highlights
■ Lectures by both academic and commodity trade authorities on cash and futures markets, led by William Wilson, Ph.D., an expert in commodity futures trading and consultant to the international grain and food processing industries.
■ Opportunity in Minneapolis to meet with grain merchandisers and hear of their experiences in dealing with the complexity of the international grain markets.
■ Share day-to-day experiences with colleagues from other countries and U.S. grain merchants.
■ Case studies and trading games to demonstrate purchasing strategies.
■ On-site visits to a country elevator, Duluth Seaway Port Authority, an export grain terminal, and a barge facility.
■ NDSU Commodity Trading Room: Portions of the class will be held in the Commodity Trading Room, a part of the Agribusiness and Applied Economics Department at North Dakota State University (NDSU). The high-technology room has 32 seats, each with a PC station and dual monitors. The stations receive live information feeds for financial information including equities and credit, plus commodity market information such as agriculture, energy and biofuels. Students have electronic access to information through Bloomberg, DTN, and X-Trader simulation software from Trading Technologies, a state of the art tool for executing electronic trades.
Course Topics
• U.S. Grain Handling and Transportation System
• Cash and Futures Markets: Role and Function Market channels for grains
Price relationships
Rules and regulations
• Basis: Concepts, Relations and Behavior Components
Sources of price risk
Basis behavior
• U.S. Grain Grading Standards
• Grain Hedging Principles
• Commercial Export Trading Practices Logistics
Managing risk
Tendering
Supplier-customer relationships
• World and U.S. Grain Market Outlook
• Grain Contracts and Their Specifications Quality specifications
International contracts and arbitration
• Price Risk Management by Importers Merchandising
Importer hedging
Purchasing alternatives
• Options Use by Importers Options markets
Premiums
Hedging
• Importer Procurement Procurement strategies
Tendering alternatives
Selection of the number of suppliers
Who Should Attend?
■ International grain buyers associated with private trading companies, milling, feed manufacturing and food processing.
■ Anyone with interest in importing grain from the United States.
To Register:
IMPORTANT NOTE: Enroll early. All courses are contingent upon sufficient enrollment numbers. Do not make travel reservations until NCI confirms that course will be offered.
Registration Fee: $1,400. Payment in full is due one week before the start of the course. Registration deadline is August 18, 2014. For your course fee, you will also receive a flash drive containing materials from lectures and laboratory demonstrations, refreshments during scheduled breaks, and one recognition dinner. Hotel accommodations and other meals are not included in the fee. Attention: Please book return flights departing from Minneapolis, Minnesota.
To pay by check or wire transfer, fill out the form and mail with your check to Northern Crops Institute (address below). Checks must be payable to Northern Crops Institute and drawn on a U.S. bank. Contact NCI for wire transfer instructions.
Groups of three or more: Special rates are available to groups of 3 or more from the same company. Contact NCI for more information.
Course Schedule: On the first day of class, course participants should be in the hotel lobby by 8:30 a.m. for transportation to the campus. Class will begin at 9:00 a.m. on Monday, September 15, 2014 and adjourn around 3:00 p.m. on Wednesday, September 24, 2014.
Non-smoking environment. Casual business attire.
Daily Transportation: Daily complimentary transportation will be provided between NCI and the hotel.
Hotel Information: Participants start this short course in Fargo, and then travel for site visits in Duluth and Minneapolis, Minnesota. NCI has reserved a block of rooms in all three cities. NCI staff will assist you with your hotel reservations.
Expressway Suites
Fargo, North Dakota
Single Room Rate: $ 79.95 + 10.5 % tax/nightHampton Inn
Duluth, Minnesota
Single Room Rate: $109.00 + 13.4 % tax/nightCountry Inn and Suites Mall of America
Bloomington, Minnesota
Single Room Rate: $119.00 +14.28% tax/nightAll hotel rooms are non-smoking.
Information and Special Requirements: If you have questions or special needs (dietary or physical requirements), please contact Northern Crops Institute.