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Econ' 338C: Introduction to MarketingGrain
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This course is designed to help understand grain marketing from a producer ... Marketing is the part of the farm business where cash in-flows match up with ... – PowerPoint PPT presentation
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Title: Econ' 338C: Introduction to MarketingGrain
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Syllabus
Econ. 338C Introduction to Marketing--Grain
Spring 2004
Dr. Robert Wisner, University Professor Iowa
State University
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http//www.econ.iastate.edu/faculty/wisner/
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Instructor Robert N. Wisner
- Office 468G Heady Hall
- Phone 294-6310
- e-mail wisner_at_iastate.edu
- Web site http//www.econ.iastate.edu/faculty/
- Office hours one hour before class
- Secretary Cindy Pease, 460 Heady Hall
- Phone 294-7318
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Course Description
- This course is designed to help understand
grain marketing from a producer standpoint, as
well as from the viewpoint of lenders, grain
elevators, advisory services, and commodity
brokers who work closely with farmers. - It focuses on the importance of tailoring the
marketing plan to specific needs of the
individual farm business. Practical aspects - of risk assessment and management are examined.
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Course Description, Cont. I
- Marketing is the part of the farm business
where cash in-flows match up with cash out-flows
and determine net returns for production and
storage enterprises. The course links marketing
decisions to financial aspects of the business
risk. - It examines the role of various pricing tools
revenue insurance in marketing grain.
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Course Description, Cont. II
- Historical seasonality in Iowa cash corn and
soybean prices, as well as new-crop futures and
options premiums are examined. - The course will include team projects and the use
of software for evaluating marketing and
risk-management alternatives, as well as for
developing marketing plans.
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Course Objectives
- To help you be better equipped to assist farmers
in your future profession, and to improve your
marketing skills if you farm - To bridge the gap between understanding how
marketing tools work, and the process of making
marketing decisions - To better understand the importance of
marketing-management to the individual farm
business
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Course Objectives
- To help you understand the complementarity of
revenue insurance pre-harvest pricing tools.
They are not substitutes for each other. - To provide hands-on experience and understanding
of some software that is available for managing
producer marketing decisions
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Econ. 338C Course Objectives
- To increase understanding about commonly used
types of grain contracts and areas of risk
exposure in these contracts. - To increase understanding of potential roles,
advantages disadvantages of contracts in
marketing grain, create awareness of risk of
loss of govt. payments
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Econ. 338C Course Reference Materials
- Text Managing Risks Profits, Grains Coping
with volatile world markets, by Robert N. Wisner,
E. Dean Baldwin, and Neal E. Blue. - Available from Midwest Plan Service, 122 Davidson
Hall, for 15.00 - Other selected articles and handout materials
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Econ. 338C Course Reference Materials
- Lecture outlines and notes will be made available
as handouts
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Econ. 338CTeaching Methods
- Teaching methods include assigned readings, class
exercises, lectures, exams, and papers - Lectures will be to expand, interpret, clarify,
explain reading materials - Exercises will be used to develop application
skills
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Econ. 338CTeaching Methods
- Class discussion is encouraged to help extend and
clarify lectures reading material - Exercises will be based on actual price and yield
data ISU estimated costs - Internet sources of information will be made
available for your use
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Econ. 338C Exams Quizzes
- Two quizzes
- Mid-Semester Exam
- Final exam
- Optional Paper
- Exams quizzes will be short answer, multiple
choice, true or false, short essay
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Econ. 338C Example Paper Topics
Optional paper should be related to your
interests and expected future work.
- If you plan to farm, it might include an overview
of your grain enterprises, and important
considerations you intend to include in your
grain marketing plan. - If you expect to work in agricultural lending, it
might focus on methods you would use to evaluate
farmers marketing plans and how you might use
that information in making loan decisions. - If you expect to enter the crop insurance
industry, it might focus on explaining to clients
what types of insurance do and do not serve as
companion pieces for pre-harvest pricing tools.
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Econ. 338C Example Paper Topics, II
Optional paper should be related to your
interests and expected future work.
- If you plan to work as a commodity broker or
market advisor, it might include a discussion of
how you would address the marketing and
risk-management needs of your clients, what
information you would need from them, and how you
might tailor marketing advice to individual farm
situations. - If you expect to work in a grain elevator or
processing plant, it might include a discussion
of how to help farmers understand that one size
does not fit all when it comes to marketing
plans.
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Econ. 338C Grading
Opportunity for extra credit
Attendance
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Econ. 338C Potential Benefits for farmers
- An average gain of 0.12 per bushel on a 1,400
acre Central Iowa cash grain farm during a
45-year farming career adds 750,000 of
investment funds. - excludes future gains in crop yields
earnings on the funds generated by
improved marketing
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