Due to the retirement of regional specialists coupled with a staffing reorganization, grain marketing education diminished in Ohio. Late 2013, farmers were raising concerns that grain marketing would become more important to remain profitable in the future and were requesting training. In order to meet this educational demand a grain marketing on-line program was offered.
Ninety-six farmers and industry leaders enrolled in the series focused on using futures and options; making a marketing plan to fit your farm business; utilizing crop insurance as a grain marketing tool; and financial statement analysis in relationship to your grain marketing plan. Also included was a grain marketing simulation exercise that allowed use of all the marketing options used in grain marketing without the risk of actually taking a position on real bushels. Each participant was provided 50,000 bushels of corn and 25,000 bushels of soybeans to market. There was $155,387.50 difference between the high and the low in crop sales through the market simulation exercise between participants.
This program will discuss the steps used to make this a successful program, including program promotion, program partnerships, participant communication, and participant registration. This program had participants from 44 of the 88 counties in Ohio as well as from 7 additional states around the Midwest. Feedback from participants indicated they were satisfied with the course and gained several good strategies from participating in the course and market simulation.
|Conference||2015 Extension Risk Management Education National Conference|