The Huron Expositor, 1995-03-15, Page 24Pays 6 -Farm Progress '96'
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Goal is to fathom futures market
by Debbie Davidson
A marketing club is being es-
tablished in Bruce County.
"Hopefully, by understanding
how the (trading) system works,
club members will be better able to
market their commodities, thus
giving them a higher return," said
project co-ordinator Tony Lang.
"The goal is to be able to
understand the futures market and
better understand what determines
the price a product is sold at,"
added Lang.
Lang, who operates Lang Farm
Elevators of RR 1, Chepstow, said
Pat Kuntz was instrumental in put-
ting the commodity course together.
Kuntz is an ag rep with the On-
tario Ministry of Agriculture, Food
and Rural Affairs (OMAFRA) in
Walkerton. Together, the two men
prepared a course agenda.
To ensure that all club par-
ticipants have the same understan-
ding and background, a three-day
course starts the project off. Par-
ticipants gain useful and practical
knowledge of futures markets with
hands on trading during the three
sessions.
Day one offers a basic introduc-
tion to commodity trading, the
principles behind trading and an
explanation on how the Chicago
Board of Trade operates and its
effects on the people trading.
The second day focuses on the
theory behind option training,
benefits to participants and the art
of technical trading.
On the final day, participants
learn how world markets and the
Ontario Market affects trading.
The January 1995 course invol-
ves a diversified group of par-
ticipants including elevator
operators, large cash crop fanners,
large feed lot operators and farmers
in general.
The course also includes a three-
day trip to the Chicago Board of
Trade and the Mercantile Exchange.
A one -day seminar, with speakers
from both trade boards, is included
in the trip.
Participant Dorothy Miller
operates a dairy farm in the Strat-
ford area
"I want to get some of the tech-
nical stuff down so I can
understand the market reports bet-
ter," she said. "I want to interpret
how changes in Chicago will affect
our local prices."
She said the trading information
"that comes at us is so overwhel-
ming. I'd like to be able to sort it
out."
The marketing club will form and
meet on a monthly basis after the
February trip to Chicago.
"The group will get together to
•see Hoping, page 7
Tony Lang scans futures prices on computer screen. (Davidson photo)
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CONTRACTING
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