With: Matt Stockton, Professor and Extension Agricultural Economist; and Cory Walters, Associate Professor and Grain Marketing Specialist
The webinar will focus on current market forces and common tendencies of decision-makers as they consider selling this year’s corn crop. Our discussion extends to the difference between perceiving the market as it truly is, versus how we want it to be, and how cognitive anchoring can impact your market expectations for the year.
It will delve into the relationship between last year's prices and their impact on this year and examine the predictive power of traditional market signs and how perspectives can alter actions. We'll explore the potential for biased tendencies in grain marketing and share strategies to effectively use existing knowledge for maximum advantage.
The concept of the Gambler’s Fallacy will be addressed, and we will explore the effect of negative outcomes on your willingness to participate in the market. This year may witness the manifestation of the Dunning-Kruger effect, which we will also discuss.
By the end of the webinar, you will have acquired a stronger decision-making capability, having learned to recognize and account for natural heuristic traps that are inherent to us all. Join us on this enlightening journey to improve your market understanding and strategies.