WAYNE, PA, June 4, 2009 — Trading commodities like corn and soybeans can be risky business, even for seasoned traders. For the farmer who is trading the crops he sweated over and worked hard to grow, the risks of making poor trading decisions can be disastrous.
Now there is a free Web-based marketing simulation game that allows corn and soybean growers to gain valuable experience using marketing tools in real-world conditions, without the real-world risk of losing money as they learn. GrainClass.com was developed by the online commodity trading firm, Go Grain, LLC, to help educate farmers in some of the nuances of grain commodity trading. Farmers can sign up for the training course at www.gograin.com and begin simulated trading immediately.
According to J.C. Hoyt, Managing Partner of Go Grain, LLC, "Every participant in the course is given an 'account' with a simulated value of 100,000 bushels of corn and 50,000 bushels of soybeans to trade. They can then submit trades online using cash, futures and options markets, and receive periodic account statements to measure their performance. They also receive ongoing expert advice via a password-protected Web site and e-newsletter to assist them during the course period." To make things interesting, Go Grain will maintain a scoreboard tracking the success -- and failure -- rates of the identity-protected participants up until the close of simulated trading on October 1, 2009. "We're really not out to create a competition", says Hoyt, "but we think it adds an element of interest that will attract and retain more participants' attention."
Hoyt goes on to say that current market conditions are still somewhat chaotic following last year's roller-coaster ride. "In the last twelve months, we've seen soybean prices plummet from $16.00 to $8.00. While most soybean producers made good money during that period, some producers made great money. Prices in the grain markets continue to be volatile, and right now is the best time for farmers to gain experience trading... before they are faced to make decisions with this year's crops."
Planalytics Inc., providers of business weather intelligence and market insights to the agricultural industry, is sponsoring the program. (www.planalytics.com)
About Planalytics Inc.
Planalytics Inc. is the singular global source of Business Weather Intelligence® – the actionable information companies need to understand and optimize the impact of weather on their business. Powered by an unparalleled database of weather’s financial and volumetric impacts, proprietary forecasting technologies and market-specific expertise, Planalytics’ Business Weather Intelligence is essential to any company, in any industry, looking to effectively shape strategies, pinpoint opportunities and make more profitable decisions. For more information, visit www.planalytics.com.
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