Soybean buyers from seven Southeast Asian nations learned how to better negotiate electronic trading systems at the Soybean Procurement Management for Importers short course held Oct. 6-12 at Northern Crops Institute on the NDSU campus. The focus of the course was to learn more about contracting and purchasing U.S. soybeans.
Following their Fargo visit, the group traveled to Portland, Ore., where they concluded the course Oct. 16. The 21 participants were from India, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
“This course is the result of a multi-state effort by the Minnesota, North Dakota and South Dakota soybean organizations, who are providing major funding for this program. For Northern Crops Institute, this soybean program is the first of its kind in that it is generated at the grassroots level, in cooperation with the American Soybean Association International Marketing,” said Mark Weber, institute director.
Much of the course took place in the Commodity Trading Laboratory, which recently opened in Richard H. Barry Hall. The laboratory is the brainchild of William Wilson, University Distinguished Professor of agribusiness and applied economics, who was the lead instructor for the procurement courses.
“Our trading room is truly unique because of its focus on agricultural trading. It is critical to expose students to the modern technology currently used in this industry. I envision organizing the procurement classes around the trading room as a means of illustrating the tools and technology of trading,” Wilson said.
NDSU is recognized as one of the nation's top 108 public and private universities by the Carnegie Commission on Higher Education.