Completed Project Report


Enhancing Producers' Application of Marketing Strategies through Experiential Learning

  • Award Amount: $49,996
  • Regional Center: North Central Extension Risk Management Education Center
  • Grant Program: 2017 Education Projects

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Project Overview

North Central producers improved their risk management skills as they face greater complications to managing their farm portfolio risk due to the emergence of complex grain marketing contracts and combinations of futures and vanilla options.  In order to better equip producers to manage whole farm portfolio risk, the team conducted eight experiential learning workshops in the First Dakota National Bank e-trading Lab (Brookings, SD), hosted four online-webinar sessions, developed six videos, developed two Value-at-Risk Excel tools, developed a Technical Optimizing Excel tool, developed a Value-at-Risk Web Application, and developed six extension publications to aid producers in more effectively managing whole farm portfolio risk.


One hundred and fourteen producers were documented to have uniquely participated in this program, while the educational reach extended further through online mechanisms with 383 total views of the six risk management educations videos and 33 downloads of the risk management tools.  In addition, the educational participants reported that they planned to share information from this educational program with around 450 additional people.  


This project enabled 21 producers to monitor agricultural value-at-risk.  Some producers adopted dynamic rule-based marketing plans and have shared their marketing plan with farm lending institutions when seeking credit. 


Number of Participants: 114

Results

Project Steps

PROMOTIONAL MATERIALS

There are no promotional materials available for this project.

EDUCATIONAL MATERIALS

There are no educational materials available for this project.

REPORTS & EVALUATIONS

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DELIVERY AREA

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