MANHATTAN, KANSAS, U.S. — The International Grains Program (IGP) teamed up with the U.S. Department of Agriculture (USDA) Cochran Program to host four individuals from Venezuela for the USDA-Cochran Venezuela Grain Purchasing Short Course Sept. 17-21.
To start the course the participants were met by Jay O’Neil, IGP senior agricultural economist, in Chicago, Illinois, U.S., where they traveled to CME Group for Tour of Futures Exchange. Once the tour concluded, the group journeyed to the IGP Conference Center in Manhattan, Kansas, U.S. The course was filled with formal presentations about grain standards, practicums and proper contracting. O’Neil presented a majority of the presentations that focused on contracting, trading and hedging, and futures markets, while Carl Reed also presented about grain storage and maintenance.
One participant found the presentations to be helpful and attended the course to gain information about the futures market for grains and soybean meal.
“I have learned about the classifications of grain and have a better knowledge about future markets and the content of contracts,” said Carlos Marquez of Protinal in Venezuela.
Marquez is responsible for purchasing raw materials nationwide and this course has given him ways to improve his buying techniques. Marquez was able to take advantage of this course opportunity through U.S. Embassy and the USDA and has learned not only how to understand contracting but other important aspects of grain purchasing as well.
“I understand markets associated between sellers and buyers internationally, and I now have a better knowledge of ocean freight,” Marquez said.