Commodity Challenge is an on-line marketing simulation game developed by Montana MarketManager, an educational program of the Montana Grain Growers Association (MGGA). Teaming up with Montana State University Extension, MarketManager has developed four new versions of Commodity Challenge, adding additional functionality and commodities since the original launch in 2001.
Agricultural producers have a daunting task of marketing in today’s global economy. Creating a marketing plan is one of the most important things a producer can do. At the beginning of Commodity Challenge, producers create a marketing plan that they update each month with the changing market conditions. The game provides them with “real time” scenarios on futures, options, and the cash market, so they can “learn while doing” without the financial burden. With live futures and options feeds, producers can trade based on both fundamental and technical changes in the market. They also access one of 2,000 local cash markets so they can price their grain or livestock depending on how the futures affect their local basis.
Games have been created for marketing clubs, colleges, high schools, individuals, and regions interested in learning the commodity markets. Each game is unique, and can be changed to fit each regions different crop productions and marketing specifications. More recently Commodity Challenge has been augmented for the Corn and Soybean Digest subscribers in a game called MarketMaxx at www.marketmaxx.net. In addition, a simulation was created for the Manitoba Canola Growers Association, called Canola Commodity Challenge at www.canolachallenge.ca. For more information, go to www.commmoditychallenge.com.
Author: Chris Labbe
For Further Information Contact:
Chris Labbe - Program Coordinator
P.O. Box 1165
Great Falls, Montana 59403-1165
Phone: (406) 761-4596
Fax: (406) 761-4606
|Conference||2005 National Extension Risk Management Education Conference|
|Presentation Type||30-Minute Concurrent|