Northern Crops Institute’s annual Grain Procurement Management for Importers Short Course will be offered Sept. 19-28 at Northern Crops Institute in Fargo.
The eight-day course will focus on the mechanics of grain merchandising. One of the first steps in purchasing grain from the United States is to thoroughly understand the U.S. grain marketing system. By doing so, an importer can review the risks associated with various quality and price options. The course provides information that assists buyers in purchasing U.S. grain that meets quality requirements at the best value.
Highlights of the course are lectures by both academic and commodity trade authorities on cash and futures markets; meetings with grain merchandisers who will guide participants through the full complexity of the international grain markets; seminars by grain merchandisers and a tour at the Minneapolis Grain Exchange; and on-site visits to a country elevator, Duluth Seaway Port Authority, an export grain terminal and a barge facility.
Course topics will focus on the U.S. grain handling and transportation system; the role and function of the cash and futures markets; basis; U.S. grain grading standards; grain hedging principles; commercial export trading practices; world and U.S. grain market outlook; grain contracts and their specifications; price risk management by importers; options use by importers; and importer procurement.
The course is designed for international grain buyers associated with private trading companies, milling, feed manufacturing and food processing.
The registration fee is $1,400 and the registration deadline is Aug. 29. Special rates are available to groups of three or more from the same company. For a full course description, visit www.northern-crops.com. For more information, call 1-7736 or email nci@ndsu.edu.