Posted by: usset001 | November 17, 2010

Learn more about grain marketing with Commodity Challenge

Commodity Challenge is the premier agricultural marketing simulation game on the web. Two months ago, I announced that the Center for Farm Financial Management would take over the web site and game set-up responsibilities for Commodity Challenge. I am pleased to note there have been 27 games in 12 different states started in 2010 (a new record!) and I expect to start a handful more by the end of the year. Most of the games are established as classroom exercises for high school, technical school and University courses on grain marketing. There are also a few games established for marketing groups.

You must sign-up to compete in Commodity Challenge. The process is free, quick and easy, but it will result in one more username and password to memorize. Once you are signed-up, I invite you to join one of three “open” games; the Iowa Corn open, the Minnesota Soybean open, and the Montana Wheat open. The open games give you the opportunity to test drive Commodity Challenge and get to know the format, how to place orders, how to make grain pricing decisions, etc.

Setting up a Commodity Challenge game is very easy – 11 simple questions and you can have your own game running!

1. Game Title:

2. Game Description: I need a brief (less than 300 words) description of your game. For example, who the game was created for, what commodities will be traded, what cash market location will be used, game start and end dates. Example: This game is designed for producers in and around Cresco, IA. Players trade corn and soybeans on the futures, options and cash markets. Crops cannot be sold until after the harvest date of November 1, 2010. Be sure to take advantage of cash forward contracts and the marketing plan implementer. Thanks to the Western Center for Risk Management Education and the Center for Farm Financial Management for their support of Commodity Challenge. Good luck!

3. Game start date: 

4. Game end date:

5. Harvest date: The harvest date simulates the date your commodities will be harvested and available to be sold on the cash market. Trading prior to this date will be on the futures and options markets.

6. List up to three commodities to trade: Corn, Soybeans, HRS wheat, HRW wheat SRW wheat, SWW wheat, Barley (hedged on corn futures), Feeder Cattle, Live Cattle

7. Quantity of each commodity to trade:

8. Cash market location for each commodity: (I work with CashGrainBids to secure real cash market quotes for a market nearby)

9. Password protection: Yes or no and, if so, what would you like your password to be?

10. Commission costs: These are typically $50 to $60 per contract, per round-turn. Let us know if you want some other value used.

11. Storage costs: For grains, these typically run from 3 to 5 cents per bushel per month. Let us know if you want some other value used.

If you have any questions, feel free to call me at 651-308-8224, or email at usset001@umn.edu.


Responses

  1. HI I CANNOT DOWNLOAD THE JL COMMANDER WHEN I DO IT ASKS IF I WANT TO RUN AND INSTALL IT AND THEN A LITTLE BLACK BOX FLASHES UP AND DISESPAARS WHAT AM I DOING WRONG?


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