IGP Grain Purchasing Course
IGP Grain Purchasing Course: April 6-17, 2015
course minimum 10 participants
IGP's Grain Purchasing course benefits individuals who are responsible for buying U.S. food and feed grains. The course focuses on the mechanics of purchasing raw materials and features detailed discussions of cash and futures markets, financing, and ocean transportation.
Course description: The IGP Grain Purchasing course is divided into to continuous (back-to-back) one week sessions. The first week will investigate how grain is traded and transported. This will include USDA grading standards and how they are implemented, how to read a USDA report, examination of world S&D for grains, how to establish a proper contract, grain trade rules, and international contracts along with arbitration systems and issues. The second week of the course will delve into the realm of commodity price risk management. The class will study the workings of commodity exchanges, futures trading, hedging and price risk management. This will include discussions of futures, options and OTC contracts and how they are applied to a risk management strategy. Also included is a hands on simulation activity where participants can apply what they have learned. In addition, we are planning a field trip to a Houston export facility in the middle of these two session segments. Participants are welcome to sign up for any combination of these activities and the prices are outlined below.
Field trip information: We are planning to depart Manhattan, Kansas, Thursday, April 9, and travel to Kansas City. We will fly to Chicago on Friday where we will visit the Chicago Board of Trade. We will depart on a flight that afternoon from Chicago to Houston, Texas. Saturday we will visit an export facility. Sunday we will fly from Houston to Kansas City and spend the night there. Monday morning we will visit FGIS Tech Center in Kansas City and the KC office of Int IFCStone. Monday afternoon we will travel back to Manhattan, and commence with the second week of the course on Tuesday.
Who should attend: International grain/soybean buyers, government officials and others responsible for the purchase, shipment and handling of U.S. grains and soybeans. This course is especially useful to individuals in private companies taking on the responsibilities for grain purchasing formerly done by government agencies. An increased understanding of the U.S. grain marketing system will enhance the participants' ability to buy U.S. grain with greater confidence and effectiveness.
Part I: Fundamentals of Grain Purchasing ($1,100)
Part II: Grain Trading and Hedging ($1,100)
Part I and Part II ($2,200)
Part I, Part II and Houston Field Trip ($2,900)
Houston Field Trip to an Export Facility: Participants who enroll in both Part I and Part II receive a discounted rate. If added to a Part I or Part II course, the cost is an additional $900/person and covers airfare to and from Manhattan, Kan., local transportation to and from the Houston airport, travel to the export elevator and hosting fees. Each participant is responsible for hotel and meal costs. The cost of the Houston hotel generally runs $119/night, plus taxes.
Registration deadline: March 6, 2015