A series of monthly grain marketing educational meetings for women are being coordinated by Iowa State University Extension and Outreach and Iowa Farm Bureau Federation. The five Women Marketing Grain meetings will be held at the Des Moines Area Community College Campus, otherwise known as DMACC, beginning November 12. Farm women who want to learn more about grain marketing are welcome to attend.
"With volatile grain markets ahead, these educational meetings are geared especially for women no matter how much or how little experience they have in marketing grain," says Steve Johnson, ISU Extension farm management and ag business specialist in central Iowa.
The first meeting is scheduled for Monday, Nov. 12, from 6 to 9 p.m. at the FFA Enrichment Center, 1055 SW Prairie Trail Parkway, on the DMACC campus. The registration fee is $30 per individual for the series and can be paid at that first meeting. However, you need to pre-register prior to Nov. 9 by calling the Polk County Extension Office at 515-957-5760. This will help with the coordination of training material, drinks and snacks.
Market simulation will be used to help participants learn without losing real money
Participants in the Women Marketing Grain series will be taking part in the Iowa Commodity Challenge, an online market simulation game. Registration for the Challenge takes place at the first meeting and trading continues until next July. This activity gives participants first-hand knowledge about the use of futures and options contracts as risk management tools.
Participants will have virtual bushels to trade (75,000 bushels of corn and 25,000 bushels of soybeans) and can use cash sales, cash forward contracts, futures or options contracts using March corn and March soybean futures contracts.
The monthly meetings will include various crop marketing discussions led by Steve Johnson, farm management specialist with ISU Extension and Outreach; Ed Kordick, commodity services manager with Iowa Farm Bureau Federation; Ellen Batchhelder, Cargill Grain Merchandising; and Elwynn Taylor, Extension climatologist at ISU.
Farm Business Succession Workshop is Dec. 7 & 8; register now
ISU Extension is also sponsoring a Farm Business Succession workshop for farm families in early December. The two-day conference, on December 7 and 8 will focus on helping farm families plan for the next generation to take over the farming operation. Seating will be limited to 15 families, so don't wait to pre-register. Do it now to assure that you will have a spot and will be able to attend. Here's the agenda for both days:
Friday - 1:00 - 8:30 p.m.
Communication within the family
Wants: What is important?
Needs, Expectations and Fears of Succession Planning
Retirement: If & When
Statement of Intentions and Visioning: What I want in the Future
Saturday - 9:00 a.m. - 2:00 p.m.
Effective Family Business Meetings
Critical Path Method: Putting it all Together
How do Legal Entities Fit In?
Conference Speakers: John Baker, attorney-at-law and David Baker, farm transition specialist, both with the ISU Beginning Farmer Center. Please pre-register by Monday, December 3 by calling 515-957-5760. Seating is limited to 10 families so please don't wait to pre-register. Fee of $150 for a family of up to four members must be pre-paid by December 3, 2012.