Continuing the "Commodity Carnival" program for a second year, the CME Group – owner of the Chicago Board of Trade and the Kansas City Board of Trade – is again partnering with the National 4-H Council to teach youngsters in 11 states about the ins-and-outs of commodity markets.
The Commodity Carnival is an interactive fair experience which will travel to 120 state and county fairs in 11 states this summer – Michigan, Ohio, Indiana, Texas, Illinois, Kansas, Minnesota, Iowa, South Dakota, Nebraska and Wisconsin.
In addition, the 2014 Carnival will move beyond the fairgrounds with an online Commodity Carnival game and a downloadable app for mobile devices.
The 2014 activity is called "Risk Ranch," and is an interactive educational tool that will highlight what it takes to bring a steer to market.
"This activity is especially effective because we prepare young people as peer leaders to engage and teach other young people. As a result, we are increasing agriculture literacy among people who may not understand the importance of the industry as well as improving financial literacy in the agricultural community," says Jennifer Sirangelo, president and CEO, National 4-H Council.
Sirangelo says the CME and 4-H partnership has allowed the organization to extend its impact through innovative activities.
CME Group Executive Chairman and President Terry Duffy said the Commodity Carnival partnership is "one of his favorites."
"We're pleased to be back for our second year of this program because, although we serve customers in more than 150 countries, our roots have always been in the heart of this country with farm and ranch families," Duffy said.
The Commodity Carnival, originally developed last year by The Ohio State University Extension, is a part of CME Group's ongoing educational efforts around markets and risk management.
The Carnival joins the www.futuresfundamentals.com educational website, launched earlier this year, which explains the role of derivatives in everyday life. The site takes investing concepts like futures, hedging and speculating and shows how they impact the world around us.
Also this year, CME Group completed its 11th annual CME Group Trading Challenge, a hands-on experience that gathered 389 teams of students from 31 countries to compete in a simulated trading competition.
To see Risk Ranch in action, or to find participating fairs that will be hosting the Commodity Carnival this summer, go to www.cmegroup.com/4Hcarnival.