Often when we run a story giving suggestions about marketing tools such
as options, we get calls from farmers wanting to learn more about
futures markets.
That is good because risk management using futures markets is as
important a tool in modern farming as knowing how deep to seed canola.
Learning the tools of risk management is not brain surgery, but it
requires study and practice.
Here are a few suggestions on how you can learn more.
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First, contact your local provincial agriculture extension office and
ask for material such as booklets or videos on the subject.
Talk with your neighbours and if enough are interested, approach
extension staff about the possibility of arranging a seminar on risk
management. It is usually more informative and fun to learn in a group
so search for a marketing club in your area and become a member.
The Winnipeg Commodity Exchange hosts a two-day introductory level
course that provides participants with a basic understanding of
agricultural cash, futures and options markets. As part of the course
you get to see the trading floor in action.
The next class will be held next spring. Enrollment is limited to 20
people. For more information, call 204-925-5000 Ext. 5041.
The Canadian Securities Institute has a home study course called
Agricultural Markets – Risk Management.
It covers hedging, agricultural options, currency considerations,
commodity futures, spread trading, commodity risk management and
regulatory implications.
To learn more, call the CSI in Calgary at 403-262-1791.
CSI also provides agricultural market risk management seminars for
groups. For more information, call 403-260-4077.
You can also learn more about CSI through its website, accessible at
www.producer.com under news links.
If you are interested in an in-depth course that will help develop
customized risk management for your operation, the George Morris Centre
and the University of Guelph have a web delivered program.
It is costly and requires a serious time commitment, but in addition to
learning about risk management tools, it provides hands-on experience
in developing a risk management strategy with feedback from experts.
Our news links will also lead you to more information on this program.