| PROJECT SUMMARY |
We conducted research to support research results from Kansas State University and the University of Illinois. The research and educational objective was to strengthen the case that management time and efforts may have a higher payoff when managing production and financial risk than time spent managing marketing risk. We developed PowerPoint presentations using research results from three states (IL, KS, & OK) that showed producers that they are already doing about all they can in terms of enhancing price through price outlook and market timing strategies. We also obtained over 28,000 sales transactions covering a nine-year period from three elevators. Thus we were able to show producers how their marketing performance compared to the market average. Our research showed that 50 percent of Oklahoma´s wheat producers sold wheat in the upper one-third of the market. Only 20 percent sold wheat in the bottom one-third of the market. We taught that most producers need only to make minor changes in their marketing strategies and the highest return to risk management is in financial and production risk management. The survey of elevator managers and owners indicated that this project changed the behavior of more than 10 percent of Oklahoma´s 13,950 wheat producers.
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| NUMBER OF PARTICIPANTS: 6000 |
| TOPICS COVERED |
| Market analysis and outlook |
| Cash and futures pricing tools |
| Marketing strategies, plans and clubs |
