Posted by: usset001 | November 7, 2011

Fifty Commodity Challenge games!

Fifty groups are competing in Commodity Challenge. Should you be competing too?

Commodity Challenge is the premier agricultural grain marketing simulation game on the web. A year 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 announce that this morning I set up our 50th CC game in 2011 – a new record!  Before the year ends, we have an outside shot at doubling our previous record of 29 games, set last year. Many games are established as classroom exercises for high school, technical school and University courses on grain marketing. There are also a good number of games established for marketing groups.

You must sign-up to compete in Commodity Challenge. The process is free and easy, but it will result in one more username and password to memorize. Once you are signed up to play, the best way to introduce yourself to Commodity Challenge is to join an “open” game (games that are not password protected such as the Iowa Corn open 2011 or MN Soybean Open 2011). These games were established by me to allow newcomers to CC to explore the game. You can place orders, check account actions and just develop a feel for how the game works, before jumping into your game.

To set-up your own Commodity Challenge game, I need you to answer 11 simple questions.

1. Game Title: (less than 20 characters)

2. Game Description: I need a brief description of your game, noting who the game was created for, what commodities are traded, the cash market location, etc. Here’s an example: This game is designed for producers in and around Alleman, 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, 2011. Thanks to 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 can only occur with futures and options contracts.

6. List up to three commodities to trade: corn, soybeans, HRS wheat, HRW wheat SRW wheat, SWW wheat, barley (hedged with corn futures and options)

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.

11. Storage costs: For grains, these typically run 4-5 cents per bushel per month.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: