A.B.A. workshop addresses commodity market issues
February 17, 2009
by Eric Schroeder
WASHINGTON — A workshop sponsored last week by the American Bakers Association Commodity & Agricultural Policy Committee (C.A.P.C.) provided members of Congress a glimpse into what a day in the life of a commercial trader is like.
The workshop, "Futures Market Workshop," was held Feb. 12 at the Longworth House Office Building in Washington and featured presentations from several A.B.A. members who focused on key commodity market issues such as problems with convergence, traditional trading tools, impact of volatility on commercial hedgers and categorization of market participants.
"Decreasing volatility within the commodity markets is a key issue for the baking industry," said Robb MacKie, president and chief executive officer of the A.B.A. "Traditional tools bakers once used within the futures market no longer work today due to volatility. Holding this workshop will better educate members of Congress to aid them in addressing this complex problem."
The A.B.A. members who presented on behalf of the baking industry included: James Schick, director of procurement at Ralcorp Holdings, Inc.; Mark Worthey, vice-president of procurement at Flowers Foods; and Hayden Wands, director of procurement at Sara Lee Corp.