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.