WEST DES MOINES – A group of 50 Iowa Farm Bureau members left their fields this week and visited the trading floor as they traveled to the Windy City on an Iowa Farm Bureau Federation-sponsored marketer’s trip to view in person the trading of the commodity markets.
On July 10, participants witnessed the opening of the crop market, observed the action of commodity pit trading, discussed current market conditions and global market factors with Steve Freed of ADM Investor Services, Inc., and toured Fair Oaks Farms in Fair Oaks, Ind.
“Throughout the farming season these farmers are thinking about the commodity markets’ reactions to the reports of volatile weather and yield projections,” said Ed Kordick, IFBF commodity services manager. “This member trip gets them face-to-face with traders and people who work with the markets every day and allows them to better understand and connect the price discovery process to their farming business while networking with other farmers.”
Local participants on the trip included siblings Zeb and Kelsi Guinn of Appanoose County; Andrew and Erica Lydolph of Henry County; Calvin and Amy VanGenderen of Wapello County; and Kevin and Tiffany Sloan of Wapello County.