Two Primedia agriculture magazines, The Corn & Soybean Digest and Farm Industry News, have announced a new contest called MarketMaxx.
Market Maxx is a free, Web-based marketing simulation that allows corn and soybean growers to gain experience using marketing tools in real-world conditions without the real-world risk of losing money as they learn.
(Primedia also publishes Delta Farm Press, Southeast Farm Press, Southwest Farm Press, and Western Farm Press, and readers of these publications are invited to participate.)
Players submit trades online using cash, futures and options markets, and receive account reports, leader scoreboards and expert advice via a password-protected Web site and e-newsletter. Participants will be given a simulated value of 100,000 bushels of corn and 50,000 bushels of soybeans to trade during the contest.
The sponsors of MarketMaxx are Crop 1 Insurance, Massey Ferguson, Mid-Tech and Syngenta Crop Protection.
Farmers who wish to know more about MarketMaxx can go to MarketMaxx.net. The Web site contains information about the contest and a tutorial to help farmers understand the various grain-marketing strategies that can be employed. Farmers can register to play immediately, but actual trades cannot be made until Jan. 1, 2005.
Trades can be made until Oct. 31, 2005, when the contest ends with a payoff of big prizes, including a grand prize corn winner and a grand prize soybean winner. Prizes also will be awarded to those who finish second and third in the corn and soybean categories.
The grand prize corn winner will receive a year's use (not to exceed 100 separator hours) of a Massey Ferguson MF 9000 self-propelled combine. The grand prize soybean winner receives a choice of a year's use (not to exceed 250 hours) of any Massey Ferguson tractor in the MF 7400 or MF 8400 series. The second place corn and soybean winners each receive a GPS Manual Guidance System from Mid-Tech. Those who finish third in the corn and soybean categories each receive a new computer complete with software from Syngenta Crop Protection.
In addition, everyone who signs up for the contest will have the option to receive a free 30-day trial of the Chicago Board of Trade's (CBOT) real-time quote, chart and news service called CBOT Advantage — a $90 value.
“MarketMaxx is a fun, educational, real-life marketing simulation contest for qualified corn and soybean growers,” says Ron Sorensen, group publisher. “During the contest, growers will use futures, options, forward pricing and cash market tools to see how these tactics might help them maximize their net income in real-life situations.”
To qualify to play, contestants must be:
- Actively engaged in farming
- A resident of the United States
- Have not served as a professional commodity trader or broker in the last five years
- 18 year of age or older
- Registered on MarketMaxx.net and have agreed to all contest rules
Primedia is one of the largest publishers of specialized agricultural information for large-scale crop and livestock farming operations. Its properties include 10 magazines and regional newspapers, 10 Web sites, five e-newsletters and three information Web sites providing searchable research information for cattle ranchers, swine producers and forage growers.