November 13, 2003

 

New Educational CD Targeted at Farm Women

Farm women can upgrade their commodity marketing skills with the release of a new interactive educational program on CD.

"The program presents base information on commodity marketing, government programs and crop insurance, all the information needed to make fully informed risk management decisions," says Gustafson. "Farm women are often the first point of contact and have primary responsibility for calling elevators and others for information," says Cole Gustafson, North Dakota State University Agribusiness professor.

In addition to defining important crop marketing terms, the program illustrates different marketing strategies including cash sales, forward contracting, hedging and options. Gustafson notes that 2003 was an excellent production year. "Producers have large quantities to sell and therefore need to make thoughtful marketing decisions. As they look forward to 2004, the section on crop insurance will assist them in understanding the detailed features of new policies being advertised."

Crystal Shaunaman who co-authored the program notes that it is important for both spouses to understand the ramifications of different risk management strategies as the timing and level of returns may vary. The household and farm unit have differing cash requirements and this educational program may assist in resolving alternative priorities.

A copy of the program can be obtained from county agents of the NDSU Extension Service.

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Source: Cole Gustafson, (701) 231-7096, cgustafs@ndsuext.nodak.edu
Writer: Stephanie Renner, (701) 231-8371, srenner@ndsuext.nodak.edu
Editor: Tom Jirik, (701) 231-9629, tjirik@ndsuext.nodak.edu