Members manage virtual grain using real-time market information
WEST DES MOINES, IOWA - March 7, 2012 - Grain is the name of the game in a new commodity challenge simulation being offered by the Iowa Farm Bureau Federation (IFBF).
Starting March 7 and running through Oct. 12, Iowa Farm Bureau members can participate in a commodity challenge simulation to learn more about markets, pricing and risk management...but without risking real bushels and money. Iowa Farm Bureau members involved in the simulation are allocated virtual grain (75,000 bushels of corn and 25,000 bushels of soybeans) and challenged to make wise marketing decisions for the 2012 new crop to be harvested in October.
"The goal of this grain marketing challenge isn't selling the highest price, but learning how to effectively manage the risk associated with today's volatile markets," explained Ed Kordick, IFBF commodity services manager. "We want to help farmers understand how to use various tools and see how they work with real markets. Risk management is the focus."
Members can join the simulation challenge at any time. They receive educational materials by e-mail and online. Participants must be members of their county Farm Bureau to access the simulation. To register, go to www.iowafarmbureau.com and click on the hotbox banner. For more information, contact Kordick at ekordick@ifbf.org or 515-225-5433.
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