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Commodity Challenge

Commodity Challenge . A “Real-Time” Online Marketing Simulation Game www.commoditychallenge.com Chris Labbe Montana MarketManager. Montana MarketManager .

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Commodity Challenge

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  1. Commodity Challenge A “Real-Time” Online Marketing Simulation Game www.commoditychallenge.com Chris Labbe Montana MarketManager

  2. Montana MarketManager Commodity Challenge is a project of Montana MarketManager. Montana MarketManager is a joint program of the Montana Grain Growers Association and Montana Stockgrowers Association. We do that with…. www.montanamarketmanager.org, marketing clubs, and seminars!

  3. Commodity Challenge • The goal of Commodity Challenge is to give farmers and ranchers an opportunity to build their marketing skills in a risk-free simulated environment. • Participants trade commodities on the futures, options, and cash markets • Lock in prices, manage risk, and execute their marketing plans • A “Real Time” simulated trading environment. Just as in real life, participants pay commissions on their trades, pay fees for their stored crops, and sell on their actual local cash market prices. • Currently over 2000 cash locations exist.

  4. Commodity Challenge • Commodity Challenge Version 1.0 • First launched in February of 2002 • Created a “Real Time” trading simulation just for Montana Producers. • Funding for the development of Commodity Challenge was provided in part by the Western Center for Risk Management Education.

  5. Commodity Challenge • Commodity Challenge 2.0 • Released Fall of 2002 • Opened up to all U.S. Producers. • Offered expanded trading options like… • Ability to make trades that can be filled instantly • Interactive charting software to track basis • Cash prices in thousands of locations across the country • Live news feed to monitor the moving events. • On-line marketing resource library to answer your marketing questions!

  6. Commodity Challenge • Commodity Challenge 3.0 • Released Fall 2004 • Added the Soft White Wheat Commodity for OR, WA & ID Producers. • Over 2000 users actively participating! • 51 Games created across the U.S.

  7. Commodity Challenge • Commodity Challenge 4.0 • Launched Fall 2004 • Expanded cash locations for Soft White Wheat in WA and OR. • Marketing Plan Interface • Official Launch in mid April or May • Marketing Plan Creator – A step-by-step tool to create a marketing plan and “trigger” questions to help them implement it.

  8. Commodity Challenge • Commodity Challenge 4.0 cont. • Trigger questions: • What price to sell or buy at? • How much to sell or buy? • What marketing tool to use ? (cash, futures or options) • Marketing Plan Implementer • Is a mechanism to implement producers’ marketing plans which will either “execute” trades or “notify” them when trades should be made.

  9. www.commoditychallenge.com

  10. www.marketmaxx.net www.canolachallenge.ca

  11. Commodity Challenge • Play as a marketing club • Play as an individual • Or play as a class • Games are free and open to anyone! • Please give me a call to setup a game or join one today for free!

  12. Commodity Challenge • Sponsors for Commodity Challenge! • Montana Grain Growers Association • Montana State University • Western Center for Risk Management Education • Questions?

  13. Commodity Challenge Montana MarketManager Chris Labbe (406)761-4596 Or chris@montanamarketmanager.org

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