AMARILLO A special seminar to help producers understand how to use futures and options in commodities trading is scheduled here for Feb. 6-7.
The shortcourse, one of 10 being offered around the state, will be held at the Texas A&M University System Agricultural Research and Extension Center at 6500 Amarillo Blvd. West.
The session is offered under the Advanced Topics Seminar Series, a part of the Master Marketer Education System, said Dr. Steven Amosson, farm management economist with Texas Cooperative Extension in Amarillo.
The goal, he said, is to fully prepare producers on using advanced hedging strategies, such as cover calls, spreads, storage hedging, and windows. Participants will learn the pros and cons of each technique, and when to use them.
“The ATS course is absolutely more indepth than the well-known Master Marketer training,” said Amosson. “As we surveyed our Master Marketer graduates, the average profit increase being reported was around $25,000, so we know the trainings have an impact where it counts.”
Ed Usset, a grain marketing specialist for the Center for Farm Financial Management at the University of Minnesota, will lead the training. Usset teaches beginning and advanced marketing classes to Minnesota producers and has been instrumental in the successful Master Marketer education program there. He worked as the marketing director of commodity operations for the Pilsbury Company before joining the university.
“Marketing these days is far more sophisticated than ever before,” Amosson said, “Producers need to understand it to unlock profits.”
Pre-registration is required, but time is running short. Classes tend to fill rapidly as the deadline nears, Amosson said. Tuition for the workshop costs $150 per person, and covers materials, breaks and lunches. Contact Fran Bretz at (806) 677-5600, or stop by any county Extension office to pick up a registration form.
Partial funding for this year’s Advanced Topic Series is provided by the Southern Region Risk Management Education Center. Other sponsors underwriting the series include: Master Marketer Educational System, Texas Wheat Producers Board, Texas Corn Producers Board, Texas Farm Bureau, the State Cotton Support Committee, and the Houston Livestock Show and Rodeo.
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