Presentations On Commodity Market Issues Set For National Hard Spring Wheat Show

The 59th Annual Hard Spring Wheat Show Committee has scheduled two speakers to discuss commodity market issues. Mike Krueger, The Money Farm founder and president, along with Jim Peterson, North Dakota Wheat Commission marketing director, will discuss key issues in the global market during this year’s Wheat Show proceedings. Both men will speak on Tuesday afternoon, Feb. 7 at the Williston Airport International Inn.

Peterson will begin the market discussions at 3 p.m. on Tuesday afternoon. He will zero in on the export markets and will present a talk dealing with important challenges and opportunities that lie ahead in the export market for spring wheat and durum.

“I’ll take an overall look at the current year and identify the major factors that are challenging our exports and also discuss areas of opportunities,” he says. “I will project into the future to identify potential areas of problems and areas of gain.”

He continues, “Everything is not bleak. We are still enjoying good prices and it still looks to be a good year for high wheat prices. I will talk about challenges such as the growing presence of Black Sea wheat, a cheaper wheat that does affect global prices. I’ll highlight this and talk about how we can compete and how we can educate buyers.”

Peterson considers Asia a success story as Asians are mimicking the western lifestyle, including the dietary habits. “Growing interest in the Western lifestyle bodes well for us,” Peterson comments. “I’ll talk about these factors and how they can prove favorable to us.”

Peterson assists with three major program areas: export marketing, trade policy and issues, and research/consumer service. He seeks to increase export and domestic sales of North Dakota grown wheat.

Peterson also gathers and analyzes market information, and evaluates transportation issues that affect North Dakota.

Following Peterson’s presentation, Mike Krueger will speak at 3:30 p.m.on Tuesday, Feb. 7 and will discuss market volatility: what causes this and what it means for our markets and for prices. “I will discuss U.S. and world supply and demand and key market factors,” Krueger remarks. “High prices mean good profits.”

Krueger founded and serves as president of the Money Farm, a grain marketing advisory service located near Fargo. The service works with individual farmers, country elevators, and others associated with agriculture.

Krueger also serves as senior analyst for World Perspectives, a Washington, DC- based international agricultural consulting company.

Anyone interested in markets, the global outlook, and what challenges and opportunities lie ahead in the coming year should plan to hear these presentations.