Building a Risk Management Plan

The Write Stuff Extension Service Materials

Managing Change/Managing Risk:
A Primer for Agriculture
13 articles by ISU staff
Send $4 to Iowa State University
c/o C. Phillip Baumel
Department of Economics
460 Heady Hall
Iowa State University
Ames, IA 50011

Audio/Visual for Rent
VH-3513-GO Business Management in Agriculture: Managing Risk

Audio/Visual for Sale
VH-5592R-GO Business Management in Agriculture: Understanding Basis--$15.00 + $4.00 S&H
VH-5591R-GO Business Management in Agriculture: Using Agricultural Options--$15.00 + $4.00 S&H
VH-5590R-GO Business Management in Agriculture: Using Futures Market--$15.00 + $4.00 S&H
Minnesota Extension Service
MES Distribution Center
20 Coffey Hall, 1420 Eckles Ave.
Saint Paul, MN, 55108-6069
(612) 625-8173
E-mail: orders@mes.umn.edu

How To Market Your Wheat
Selecting a Commodity Broker
Understanding and Using Basis for Grains
The Minimum Price Contract—A New Marketing Alternative
Kansas City Board of Trade
4800 Main St. Suite 303
Kansas City, MO 64112

Power of Options Workbook
Minneapolis Grain Exchange
Suite 130, 400 S. 4th St.
Minneapolis, MN 55415
(800) 827-4746 or (612) 321-7101
E-mail: mcarlson@mgex.com

Crop Yield Insurance Futures and Options EM15-7
Pricing Crop Yield Insurance Options Program EM15-7A
Understanding Basis EM12-4
The Flexible Choice: Hedging with CBOT Agricultural Options EM13-8
The Flexible Choice: Trading with CBOT Agricultural Options EM13-9
Grain Futures and Options EM11-5
Soybean Complex Futures and Options EM11-6
Introduction to Hedging with Futures and Options EM15-5
Options on Agricultural Futures: A Home Study Course EM11-3
Marketing Clubs: A Hands-on Approach to Marketing EM11-10
Chicago Board of Trade
Publications Department
141 W. Jackson St. Suite 2210
Chicago, IL 60604-2994
(312) 435-3558 or (800)THE-CBOT

Every effort has been made to ensure that the websites referenced in this section are up-to-date. Due to the rapidly changing nature of the web, website addresses listed may change or cease to exist.

Extension market news and commentary

http://www.oznet.ksu.edu/library/PUB/LIBRARY/LIBRARY.HTM
Kansas State University Research and Extension publications

http://www.ag.uiuc.edu/~stratsoy/weekly.html
FAPRI Home Page

http://www.exnet.iastate.edu/Information/market.html
Iowa State University Ag Markets

USDA/Government

http://www.rma.usda.gov/
Risk Management Education

http://www.noaa.gov/
National Oceanic and Atmospheric Administrations

http://www.usda.gov/nass/
National Agricultural Statistics Service

http://www.usda.gov/
USDA’s Home Page

http://www.ams.usda.gov/marketnews.htm
Agricultural Marketing Service Market News reports

http://www.fas.usda.gov
Foreign Agricultural Service

http://usda.mannlib.cornell.edu/usda/usda.html
USDA Economics and Statistics System

http://www.ers.usda.gov/
Economic Research Service

http://www.csrees.usda.gov/
Cooperative State Research, Education, and Extension Service State Partners

http://www.cftc.gov/
Commodity Futures Trading Commission

Commodity exchanges/marketing advisors

http://www.kcbt.com/
Kansas City Board of Trade

Bernstein, Jake. The Investor's Quotient: The Psychology of Successful Investing in Commodities & Stocks. 2nd ed. John Wiley & Sons, 1980.

Bobin, Christopher A. Agricultural Options: Trading, Risk Management, and Hedging. John Wiley & Sons, 1990.

Caplan, David. The Options Advantage. Probus Publishing Company, 1991.

Chicago Board of Trade. Commodity Trading Manual. 1989.

Purcell, Wayne D. Agricultural Futures and Options: Principles and Strategies. MacMillan Publishing, 1991.

Government and private sources provide information needed for making contracting decisions.

The Federal-State Market News Service originates much of the available data on agricultural cash prices and marketings, covering all of the major commodities. Market news reporters collect price quotations by observing trades or talking with buyers and sellers face-to-face or by telephone. For many commodities, price quotations are released to news media daily or at regular times within the day, and printed reports are mailed weekly from market news offices throughout the country. Most of the quoted prices apply to spot or near-term delivery rather than contracts for deferred delivery, although some deferred delivery prices are reported. Radio, television, and newspapers as well as electronic quotation services widely carry the Market News prices. Some farmers may find it worthwhile to subscribe to the printed reports. Information about the Federal-State Market News Service is available from:

Agricultural Marketing Service
U.S. Department of Agriculture
Washington, DC 20250

USDA’s National Agricultural Statistic Service (NASS) estimates acreage, production, stocks, inventories, and related data for most crops and livestock. Estimates are released throughout the year on prescheduled dates. The news media summarize the most significant statistics in each report. Commodity traders follow these releases closely, and markets often respond to actual or anticipated information in the reports. The summertime crop estimates are particularly important in the grain and soybean markets.