CME Group, the world’s leading and most diverse derivatives marketplace, and National 4-H Council mark five years of their popular and award-winning fair experience, Commodity Carnival, this summer. The interactive experience will visit 120 state and county fairs across nine states, teaching fair-going families the fundamentals of risk management in agriculture, and will also continue to be accessible beyond the fairgrounds through the mobile companion app, Risk Ranch.
Developed through a partnership between CME Group and the National 4-H Council, the Commodity Carnival—now in its fifth year—is an interactive, educational fair experience that teaches young fairgoers about managing the risks and costs associated with agriculture. Participants in the Commodity Carnival will play a game that involves bringing a steer to market, which helps improve their literacy in agriculture science and basic economics while having fun.
The Commodity Carnival booth will be at the Dawson County Fair from 7/13-7/14, and fairgoers can even take the newest Risk Ranch game home with them by downloading it to their phone.
“CME Group’s roots are in agriculture, and we are pleased to once again provide this program to help the next generation of farmers, ranchers, and agribusiness leaders throughout the United States,” said CME Group Chairman and CEO Terry Duffy. “The agriculture and food science workforce is expected to grow five percent by 2024, and Commodity Carnival is a fun, educational way we can help students to better understand the concept of managing risk from a young age.”
“Empowering youth today and creating opportunities for them tomorrow is our key objective,” said National 4-H Council’s President and CEO Jennifer Sirangelo. “Both the Commodity Carnival and Risk Ranch have helped students learn not only about the risk inherent in bringing a product to market, but also developed their skills for problem solving, communication and technical competence – essentials for positive youth development that transcend even beyond the agricultural field.”
Developed by the Ohio State University Extension, Commodity Carnival will travel to the following states during the 2017 fair season: Michigan, Ohio, Nebraska, Illinois, Missouri, Iowa, South Dakota, Texas, and Wisconsin. To find a list of participating fairs that will be hosting Commodity Carnival this summer and fall, visit www.cmegroup.com/4hcarnival.
CME Group and 4-H first collaborated in 2013 driven by the same mission to prepare future generations of farmers and food producers with respect to risk management in agriculture. In 2015, to reach today’s mobile and tech-savvy youth, CME Group launched the first and most exciting agriculture-based learning application, Risk Ranch, further helping young people understand agriculture as a complex and crucial element of our economy. The award-winning app is available year-round online, in the App Store as well as through Google Play and has reached more than 9,000 users in 115 countries to date.
This program is part of CME Group’s ongoing educational efforts around markets and risk management. In addition to the Commodity Carnival targeted to school-age children, the company also partners with Discovery Education in its Econ Essentials program, a free service for middle- and high-school classrooms that helps teachers and their students explore the important and ever-changing variables that affect our global economy, particularly in energy, agricultural, and financial markets. For university students, CME Group offers an annual CME Group Trading Challenge, a global competition that in 2017 drew in nearly 600 teams, made up of more than 2,300 students from 35 countries to compete in a simulated trading competition. The company also provides ongoing education resources explaining how markets work at www.futuresfundamentals.com.