MarketMaxx was played by about 5,000 people in 2006. Chris Schnell was one of them — and relied on the game to help guide him through volatile market moves that dominated corn and soybean prices last year.
His hunches on soybean sales sure paid off when he won a year's use of a Massey Ferguson 7400 or 8400 series tractor. The Sully, IA, grower won the MarketMaxx grand prize for selling his simulated soybean allotment of 50,000 bu. at the highest average price of $8.01.03/bu.
Grand prize winner in the MarketMaxx corn marketing contest was Brian Roh, Dodgeville, WI. His top average selling price on the simulated allotment of 100,000 bu. of corn was $3.61.9/bu.
Roh won the corn contest grand prize of one year's use of a Massey Ferguson 9000 series self-propelled combine. The new equipment will come in handy in harvesting his more than 1,150 acres of corn and 660 acres of soybeans.
He picked up on MarketMaxx by reading The Corn And Soybean Digest, which sponsors MarketMaxx. Roh turns to the magazine's “Profits” section every issue and likes to “read about markets every day.”
For 2007, he plans to add more on-farm storage and drying equipment. “I made 75¢/bu. more on corn by renting storage and selling later,” he says.
Both Schnell and Roh are to be presented the keys to their prizes at the National Farm Machinery Show this month in Louisville, KY. Greg Lamp, editor of The Corn And Soybean Digest, is helping present the prizes.
Both are also playing MarketMaxx 2007, which officially began Jan. 2. It will continue through Oct. 31, 2007.
As in the past two years, players must sign up for MarketMaxx on the www.MarketMaxx.net Web site. Each player will be allotted the same 100,000 bu. of corn and 50,000 bu. of soybeans to market using forward contracts or Chicago Board of Trade (CBOT) futures or options. Only farmers 18 or older are eligible to win (go to www.MarketMaxx.net for a complete set of rules and regulations on the game).
MarketMaxx 2007 players are vying for the chance to win an AGCO Gleaner R5 or A5 series combine (not to exceed 100 combine separator hours) in the corn contest. Grand prize for the soybean contest winner is an AGCO RT or DT tractor (not to exceed 250 hours).
ACGO Gleaner and AGCO Tractors are sponsors, along with Syngenta Crop Protection, which will award a complete computer system to second place winners in each category. Cargill Certified SolutionPro is also a sponsor.
Like Roh, Schnell read about MarketMaxx in an issue of The Corn And Soybean Digest. “It looked like it might be fun and challenging,” he says. “The prizes were inspiring, too.”
He learned that even small moves in corn and soybean markets created a big difference in player standings in the MarketMaxx games.
“I've made a habit of reading all I can from as many different opinions as possible on what others think the market might do,” says Schnell.
“I think it reinforced hard-earned experience that you sell the trend — not the absolute price. If you think it's going up a nickel, be willing to sell for three cents because that's more likely to happen,” he says.
Schnell hopes that MarketMaxx can help him recognize more of the micro-trends and pitfalls associated with various market moves and their timing. “For instance,” he says, “did ‘XYZ Corp.’ sell 5,000 contracts today because they thought this was a top in the market or did they need to make the books look good to their shareholders.”
Learn more about how you can become a better marketer and possibly win a combine, tractor or computer system in MarketMaxx 2007 by going to www.MarketMaxx.net.
Like Roh and Schnell this time last year, you have nothing to lose and a lot to gain by playing MarketMaxx. Sign up today.