The project began by interviewing the head of procurement or lead grain merchandizer for twelve agricultural processors and elevators in North Dakota and Minnesota. These companies purchase eleven different commodities. The interviews were held to gain an understanding of the respective company’s crop contracting strategy, the process used to establish contract structure and key provisions, and determine which contract terms were most commonly misunderstood or created the greatest confusion for farmers. When possible, current and historical crop contracts were collected for further evaluation.
The assembled crop contracts and interview responses were used to prepare a preliminary presentation discussing contracting strategies and describing the risk and financial implications of key contract provisions. The preliminary materials were presented to the NDSU Marketing Club, and then revised for use in the remaining fifteen programs or conferences.
An extension circular is currently being developed to complement the PowerPoint presentation and provide a more detailed discussion of the risk and financial implications of various crop contract provisions. Questions, discussion and feedback from program participants are integrated into the written materials. This publication will be available in electronic and paper form for those interested parties who were not able to attend one of the in-person sessions.
Number of Participants: 556
There are no promotional materials available for this project.
There are no educational materials available for this project.
REPORTS & EVALUATIONS
There are no reports or evaluations available for this project.