ISUE, IFBF sets 2016 Iowa Commodity Challenge
AMES – Central Iowans are invited to take part in a unique educational game this fall and winter.
The Iowa Commodity Challenge, an online market simulation game, will give players an opportunity to learn firsthand how to improve strategies to sell cash corn and soybeans.
The game includes the use of futures and ag options as marketing tools.
A pair ag marketing clubs within the Farm News coverage area will host meetings to launch the game. All meetings begin at 6:30 p.m. with registration at the door the night of the meeting.
Introductory meetings will be held:
A). Nov. 14 in the Story County Extension office, 220 H Ave., Nevada.
B). Nov. 17 in the Leonard A. Good Community Center, 114 SW Eighth St., Ogden.
The November club meeting topic will be “Crop Marketing Outlook, Strategies and Tools,” presented by Steve Johnson, Iowa State University Extension, and Ed Kordick, Iowa Farm Bureau Federation.
Instructions to enroll in the Iowa Commodity Challenge, as well as a 40-page marketing tools workbook, will be given to those enrolling.
The game allows participants to use a variety of tools to trade 50,000 bushels of corn and 20,000 bushels of soybeans stored at their local elevator.
“It gives players a chance to look at commodity markets and how they work over the course of several months,” Johnson said. “This game is being set up in combination with the University of Minnesota.
“It reflects what is going on in the real world markets so we are able to try out some strategies in a setting where we can explore how our tools work.”
The online game ends Feb. 29, when participants must have sold their stored grain and settled any of their futures or ag options traded positions.
A small registration fee will be charged. Attendance at this first club meeting is essential.
Follow-up meetings are planned at the same sites in February and March. For more information, contact the Story County Extension office at (515) 382-6551 regarding the Nevada meeting; and the Boone County Extension office at (515) 432-3882 for the Ogden meeting.
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