NEWS AND EVENTS
Futures, Assumptions, Risk and Markets (FARM)
Thursdays from 10 a.m. – Noon, October 15, 22 and 29 and November 5, 12 and 19, 2009
Complimentary lunch for registrants following each workshop
The recent dramatic rise and fall in milk and grain prices and the accompanying challenges for producers underscores the need for greater risk management training. This six-part workshop, featuring internationally recognized experts, will help dairy farmers understand futures and options contracts, trading on the Chicago Board of Exchange, forward pricing, margin protection and other risk management strategies to help producers stay profitable. Held via teleconference, the sessions are offered at six sites throughout Virginia, one in Pennsylvania, and one in North Carolina. Each will have an on-site coordinator to ensure a good learning environment. Producers may chose which sessions to attend, but are encouraged to attend them all. Registration is required to get an accurate count for handouts and lunch. Click here for the live streaming video of each session.
Virginia Cooperative Extension and Virginia Department of Agriculture and Consumer Services present the six-part dairy and grain producer-focused workshop series:
Sessions offered via teleconference throughout the Commonwealth, Pennsylvania and North Carolina:
Culpeper, Edinburg, Franklin, Rocky Mount, Weyers Cave, Wytheville, Taylorsville, NC and Lancaster, PA
If you are unable to attend a session in person, they will be available via streaming video.
To register by telephone call: 804.733.2686
For more information, please contact:
Mike Roberts - Virginia Cooperative Extension - mrob@vt.edu or 804.720.1993
Session 1: Understanding the Chicago Board of Trade - October 15
This is the first of six sessions designed to help participants better understand what the futures markets are, how trade is conducted, and the difference between a hedger and a speculator. After a short break, economic outlook for the current state of the U.S. economy will be presented.
Presenter: Dan Gramza - CME Group
- Who/What is the Chicago Board of Trade; CME; CME Group?
- How is trade conducted?
- Hedger vs. Speculator
- Commercials vs. Non-Commercials
Presenter: Ray Owens - Richmond Federal Reserve
- Market Outlook: The U.S. Economy
Session 2: How Futures Contracts Work - October 22
This workshop session will help participants understand how futures contracts work and review the role of the hedger vs. the speculator. The economic outlook for the U.S. Dairy industry will be presented in the last hour.
Presenter: David Anderson - Texas A&M University
- How do futures contracts work (bears & bulls / longs and shorts)?
- Hedgers defined
- Speculators Defined
- Commercials vs. Non-Commercials
Presenter: Scott Brown - University of Missouri
- Market Outlook: U.S. Dairy Industry
Session 3: How Options Contracts Work – October 29
Presenter: Véronique Pilet - Cinter Natrional Interprofessional de L’economie laitiere
- Market Outlook: European Union Dairy Markets; Trade and European Imports and Exports
Presenter: Gavin McGuire - Iowa Grain, CNBC
- How do options contracts work (calls & puts)?
- Who would sell and who would buy?
Session 4: Basis and Its Implications – November 5
Presenter: Jonah Bowles – Virginia Farm Bureau
- Basis defined
- Basis as a barometer
- How do World markets affect basis?
Presenter: Bob Wisner - Iowa State University
- Outlook – Farm Energy, Biofuels, and Grain
Session 5: Basis and Its Implications – November 12
Presenter: Brenda Boetel - University of Wisconsin
- Fundamental Analysis Basics
- Overview of Technical Analysis
- Gaps & Triangles / Chart Patterns / Relative Strength Index
Presenter: Gregg Ibendahl - Mississippi State University
- Outlook - Input Costs
Session 6: Getting You Ready To Trade – November 19
Presenter: Dan Gramza - CME Group
- I want to trade!
- What are the risks of trading my own account?
- What are the odds in our predictions?
- What impacts our predictions?
Presenter: Danny Klinefelter - Texas A & M University
- Outlook – The American Farm in 2010, Health of U.S. Agriculture Industry, Where we’ve been and where are we going?