Transcript Commodity Challenge - Ag Risk & Farm Management Library

Commodity Challenge
A “Real-Time” Online Marketing Simulation
Game
www.commoditychallenge.com
Chris Labbe
Montana MarketManager
Montana MarketManager
Commodity Challenge is a project of
Montana MarketManager. Montana
MarketManager is a joint program of
the Montana Grain Growers Association
and Montana Stockgrowers Association.
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We do that with….
www.montanamarketmanager.org,
marketing clubs, and seminars!
Commodity Challenge
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The goal of Commodity Challenge is to give
farmers and ranchers an opportunity to build
their marketing skills in a risk-free simulated
environment.
Participants trade commodities on the futures,
options, and cash markets
Lock in prices, manage risk, and execute their
marketing plans
A “Real Time” simulated trading environment. Just
as in real life, participants pay commissions on their
trades, pay fees for their stored crops, and sell on
their actual local cash market prices.
Currently over 2000 cash locations exist.
Commodity Challenge
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Commodity Challenge Version 1.0
• First launched in February of 2002
• Created a “Real Time” trading simulation just
for Montana Producers.
• Funding for the development of Commodity
Challenge was provided in part by the
Western Center for Risk Management
Education.
Commodity Challenge
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Commodity Challenge 2.0
• Released Fall of 2002
• Opened up to all U.S. Producers.
• Offered expanded trading options like…
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Ability to make trades that can be filled instantly
Interactive charting software to track basis
Cash prices in thousands of locations across the
country
Live news feed to monitor the moving events.
On-line marketing resource library to answer your
marketing questions!
Commodity Challenge
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Commodity Challenge 3.0
• Released Fall 2004
• Added the Soft White Wheat Commodity
for OR, WA & ID Producers.
• Over 2000 users actively participating!
• 51 Games created across the U.S.
Commodity Challenge
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Commodity Challenge 4.0
• Launched Fall 2004
• Expanded cash locations for Soft White
Wheat in WA and OR.
• Marketing Plan Interface
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Official Launch in mid April or May
Marketing Plan Creator – A step-by-step tool
to create a marketing plan and “trigger”
questions to help them implement it.
Commodity Challenge
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Commodity Challenge 4.0 cont.
• Trigger questions:
 What price to sell or buy at?
 How much to sell or buy?
 What marketing tool to use ? (cash, futures
or options)
• Marketing Plan Implementer
 Is a mechanism to implement producers’
marketing plans which will either “execute”
trades or “notify” them when trades should
be made.
www.commoditychallenge.com
www.marketmaxx.net
www.canolachallenge.ca
Commodity Challenge
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Play as a marketing club
Play as an individual
Or play as a class
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Games are free and open to anyone!
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• Please give me a call to setup a game or
join one today for free!
Commodity Challenge
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Sponsors for Commodity Challenge!
• Montana Grain Growers Association
• Montana State University
• Western Center for Risk Management
Education
• Questions?
Commodity Challenge
Montana MarketManager
Chris Labbe
(406)761-4596
Or
[email protected]