North Central NAMA members gathered Wednesday, September 4, for a boat cruise on Lake Minnetonka, MN.  The event kicked off with a cocktail reception where members networked and caught up with fellow professionals.

Ed Usset,  Grain Marketing Specialist who teaches a Commodity Marketing class at the University of MN, facilitated a discussion on the current state of the industry comparing it to the last “Golden Age of Agriculture” 10 years prior to WWII.  Mr. Usset detailed the concept of parity pricing – the purchasing power of a particular commodity relative to a farmer’s expenses.  With the recent commodity prices and production levels at historical levels, Mr. Usset believes we are experiencing another golden era.  The challenge will be in how marketers prepare for when the good times come to an end.  The cost of production versus the price/bushel will inevitably change and marketers need to be ready for how they will deal with that.  Members then had an opportunity to ask questions and Mr. Usset detailed various international trends that influence the industry including China’s increasing demand for meat, South America’s increasing role in soy exports and GMO issues.

Afterwards, members enjoyed appetizers, cocktails and a cruise of the shores of Lake Minnetonka.