MANHATTAN, KANSAS, U.S. — Kansas State University’s (KSU) International Grains Program (IGP) Institute will host a two-part grain purchasing course April 6-17 at the IGP Institute Conference Center in Manhattan, Kansas, U.S.
Grain Purchasing – Part I: Fundamentals of Grain Purchasing
The first week of the course will investigate how grain is traded and transported. This includes USDA grading standards and how they are implemented, how to read a USDA report, how to establish a proper contract, among other topics.
“The markets that we are facing today complicate the jobs of grain merchandisers and grain buyers,” said Jay O’Neil, course coordinator and IGP Institute senior agricultural economist. “Our courses are designed to educated participants on the specific dangers involved in price risk and to provide them with the tools necessary to protect their companies.”
The course will feature presentations from industry professionals with interactive activities and discussions.
A former participant from the course, Jonah Nickerson, said the caliber of the course exceeded his expectations.
“I have learned how to tailor contracts and about the legality of contracts as well as rail transportation and how all of those systems work,” said Nickerson. “Since I work with anything with raw products, these are important concepts to know about.”
Grain Purchasing – Part II: Contract Pricing and Hedging
The second week of the course will delve into the realm of commodity price risk management. The class will investigate commodity exchanges, futures trading, hedging and price risk management. Also included in this course is a hands-on simulation activity where participants can apply what they have learned throughout the course. In addition to the lecture portion of the course, participants are encouraged to attend the field trip with the group to Houston, Texas to tour an export facility.
International grain/soybean buyers, government officials and others responsible for the purchase, shipment and handling of U.S. grains and soybeans are encouraged to attend this practical training.
“It’s more than just educating people on how to write a contract and manage risk. We cover what professionals need to know to protect their company’s best interests and hopefully stay away from trouble,” said O’Neil.
Participants are welcome to register for the entire two-week course or attend either of the one-week sessions.