Grain Academy 2017 / 25th and 26th of October, INTERNATIONAL Hotel Casino & Tower Suites – Golden Sands, Varna
26th of October - Conference program
8:00 - 9:00Registration of participants
9:00 - 9:30Official opening of the conference
9:30 - 10:15Look forward not backward as grain prices are closer to a bottom than many realize!
Speaker: David Hightower, President of The Hightower Report, USA
10:15- 10:45Coffee break
10:45- 11:45How Europe will place itself on the international market in the current 2017/18 season.
Speaker: Andrée Defois, President of Tallage and Managing Editor of Stratégie Grains, France
11:45 - 12:45Climate impact on the grain production. What phenomena to watch for.
Speakers: Georgi Ratchev PhD, Climatologist, Sofia University St. Kliment Ohridski and Nina Nikolova PhD, Climatologist, Sofia University St. Kliment Ohridski, Bulgaria
12:45 14:15Buffet lunch
14:15 15:00Great Russian wheat and all grain crop and export of 2017/18: causes and outcomes for Black Sea and world markets.
Speaker: Dmitri Rylko, General Director оf IKAR, Russia
15:00 15:45GMO definitions. Quality aspects of the crops in 2017 - Southeast Europe and the Balkans.
Speaker: Veselka Pashova, SGS Bulgaria
15:45 -16:15Coffee break
16:15 - 17:15Panel discussion: South East Europe and Balkans region becoming significant factor on the international grains and oilseeds markets
Martin Roussev - Vitagrain BG JSCo., Bulgarian Association of Grain and Feed Traders (BAGFT), Bulgaria
Faik Genç - AgriPro, Turkey
Alex Michailidis - Dimitriaki SA, Greece
Florin Bratucu - COFCO International, Romania
Jaime Nolan Miralles - INTL FCStone, Ireland
Petar Dimitrov - Agricore, Bulgaria
25th of October, 2017 - Workshop program
Training from INTL FC Stone
Speakers: Jaime Nollan-Miralles and Rory Deverell, INTL FC Stone Dublin, Ireland
Special full day risk management workshop designed for key executive decision makers such as CEO, CFO, Heads of procurement and sales from large scale producers/co-ops, local trade houses, millers (Feed and flour), bioethanol/biodiesel plants, crushers and all key leading end users.
Be prepared for new experience with a strong level of interaction to develop proactively your internal risk management platform.
Varna Grain Academy – Bulgarian Integrated Risk Management Program (IRMP)
9.30am Pillar 1 - Bulgarian grain price risk environment (Defining Bulgarian price risk environment)Global & EU Grain and Oilseed market outlook - 17/18 marketing year
Bulgarian Grain and Oilseed balance sheet review - Trade flow, end stock and price evolution dynamics
Defining the Bulgarian cash market price environment & volatility
Why are derivatives applicable to Bulgarian Ag sector - Correlation evaluation
Bulgarian cash market contractual price environment - Driving sustainability across value chain
11.15am Pillar 2 - Bulgarian commercial hedging - Theory to practice (Futures hedging)Defining Bulgarian commercial Ag hedging from a pragmatic and realistic perspective
Hedging Defined - key market participants, roles and practical financing of commercial hedge operations
Steps to Building your specific Integrated Risk Management Program - IRMP
Understand a futures contract and its applicability to your actual commercial risk position & hedging program
Basis hedging - negotiating and mitigating your actual price risk
Futures hedge strategy environment - Understand impact of calendar & market spreads on your hedge/hedge triggers
Bulgarian futures hedging case studies
2.30pm Pillar 3 - Expanding & Balancing your Bulgarian Commercial hedge Portfolio - (Options Hedging)Understanding the Options Environment - What Options infrastructure looks like and means to you.
Greeks demystified - Implications for your hedging strategy and how to manage effectively
Bulgarian hedging with Options - Building your Option Strategies & balancing your hedge and price risk exposure
Bulgarian Options hedging case studies - What if we worked with options instead of futures? Risk/Reward defined
4.15pm Pillar 4 - Over the counter markets - OTC in the Bulgarian Commercial hedgers basket of risk management toolsUnderstanding what the OTC market is - Why bother with OTC?
Understanding how OTC hedge structures can complement your overall hedge commercial price risk environment
What do OTC Hedge structures look like and how do they work in reality and in your Bulgarian hedge strategy
OTC hedging case studies - Tailoring risk management strategies to your specific commercial price risk