Conferences
Commodity Challenge
Edward Usset
Summary
Commodity Challenge is an online trading game, featuring cash, futures and options quotes for corn, soybeans and wheat. As an educational website, it offers a one-of-a-kind approach to learning about commodity markets and marketing decisions in farm management. The games are free, and primary users include high school classrooms and FFA, technical colleges, Universities, farmer marketing groups and extension.
As a trading game, Commodity Challenge is unique. Other web-based trading games feature a speculative approach to the markets (buy low and sell high). Commodity Challenge is different. Games are customized with access to real-time cash quotes from thousands of local grain markets from all corners of the country. Instead of speculating, every participant in Commodity Challenge is asked to play the role of a grain producer. Rather than address the speculators need to buy low and sell high, players accept the challenge of marketing grain and learning to manage price risks. Players learn how to use forward contract, hedge with futures contracts, and how to use options. The games are a hands-on opportunity to explore risk management tools and alternatives, learn about commodity markets and have some fun.
At this session, I will discuss the benefits of using Commodity Challenge as an educational tool with any group interested in learning more about price risk management.
Presentation Materials
Details
| Conference | 2017 Extension Risk Management Education National Conference |
| Presentation Type | 30-Minute Concurrent |