This course is designed to introduce students to the purpose, operation, and use of futures and options in managing commodity price risks. The objectives of the course are to understand commodity marketing, futures contracts, options contracts, basis, hedging and speculating strategies as part of a successful commodity risk management program. Students will be introduced to fundamental and technical analysis techniques.
This course will help the student learn many items involved with running a modern farm. These skills include but are not limited to record keeping, selecting proper insurance for the farm, analyzing financial performance, identifying credit needs and sources, planning for crops, and planning for the feeding of livestock.
This course emphasizes the practical use of a farm record system in managing the farm through farm and financial analysis. Includes the establishment of farm business goals, selection and use of farm credit, farm business arrangements, farm estate planning, and farm income taxes. Instruction is provided on the use of computers and/or computer records and financial analysis of the farm business and finance strategy to meet the learner's needs. Production and financial decisions will be made based on the learner's farm business analysis. All competencies will be assessed using the learner's farm or with simulations established by the instructor.
In this course, students will learn about the technological advances in production agricultural, relevant policy changes in legislation, consumer trends and new niche ventures. The production technology section will focus on data analysis and management from multiple sources including: robotic milkers, activity monitors, rumination meters, precision feeding, precision planting and harvesting data, satellite imagery and soil sampling.
Total: 12 Credits
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