2000 World Food and Agribusiness Congress Presentations

The following presentations were presented June 26-28, 2000 at the 10th Annual World Food and Agribusiness Congress in Chicago, Illinois.  If you have any questions regarding a particular presentation, please contact the participant directly.  If no link exists for a participant, then they did not provide an electronic version of their remarks or presentation.

The presentations are posted in PDF format.  To view a presentation as a PDF document, Adobe Acrobat Reader is required.  If you do not have Adobe Acrobat Reader, you can download it free from http://www.adobe.com/products/acrobat/readstep.html

General Sponsors

		Chicago Mercantile Exchange

MONDAY, JUNE 26

Congress Opening

Welcome:                  Joseph P. Sullivan, Chairman of the Board, IMC Global Inc., U.S.A.
Keynote Address:   W. Michael Cox, Senior Vice President & Chief Economist, Federal Reserve Bank of Dallas, U.S.A.

Information Technology

This keynote address will focus on a futuristic look at technological development as it affects U.S. and global business, particularly the technology of collecting, evaluating, disseminating, and using information and knowledge. The keynote speaker, Dr. W. Michael Cox, is a leading authority on technology’s importance in the free enterprise economy and authors the Federal Reserve Bank of Dallas’ acclaimed series of annual essays on rising American Living Standards and the new economy. His work has received extensive attention from various publications, radio, and television. This presentation will set the stage for discussions taking place in subsequent sessions.

Keynote Address:    Ray Allan Goldberg, Moffett Professor of Agriculture & Business Emeritus, Harvard Business School, U.S.A.
                                    View presentation as a PDF document  View speech as a PDF document

The Challenge for IAMA in the New Millennium

Professor Goldberg will discuss the genetic revolution and how it will affect the global food/health system. The revolution will change all institutional and industry structures and lead to a new definition of a Concept of Agribusiness. The revolution will affect all the functions performed in the food system and who will perform them. How does IAMA reinvent itself to better serve the educational, research, and management training needs of the new and old participants in the emerging global agriceutical system and the needs of its consumers?

Moderator:   Carrol D. Bolen, VP of Governmental Affairs & Biotechnology Policy, Pioneer Hi-Bred International, Inc., U.S.A.
Panelists:     David S. Rowe, Global Business Leader Output Biotech, Value Added Grains, Dow AgroSciences, U.S.A.
                       Bill Spain, Senior Vice President, Del Monte Foods, U.S.A.
                       Ted  McKinney, Global Leader, Public Affairs - Biotechnology, Dow Agrosciences, U.S.A.

This roundtable discussion will focus on different perspectives of how technological advances will impact the marketplace and implications for the system ‘from farm gate to consumer’. The different perspectives presented will provide a framework for evaluating the impact of technological advance on the different components of the food and fiber system.

Moderator:   John Block, President & CEO, Food Distributors International, U.S.A.
Panelists:     David R. Hughes, Sainsbury Professor of Agribusiness & Food Marketing, Wye College, University of London, U.K.
                       Jean Kinsey, Professor & Applied Economics Director, The Retail Food Industry Center, University of Minnesota, U.S.A.
                       View Presentation as a PDF document

This session will focus on the changes taking place globally in food markets and strategies that businesses are developing and implementing to take advantage of these opportunities. Key questions and issues will center on identifying the changes taking place among global consumers and the challenges and opportunities they present.

This roundtable discussion will further elaborate on the trends and opportunities identified in Session 3 and how they are impacting the food retailing and food service sectors.

 Welcome Reception

The world famous Chicago Mercantile Exchange, 30 S. Wacker Drive, has invited all Congress Participants and Registered Guests to a Welcome Reception on the Lower Trading Floor of the exchange. The reception includes food and drinks. Dress is business attire. Buses will depart The Fairmont Hotel at 6:30 p.m. and 6:50 p.m. Buses will depart The Best Western & The Essex Inn at 6:30 p.m. IAMA name badges are necessary for admission.

TUESDAY, JUNE 27

Facilitator:   Carole L. Brookins, Chairman and CEO, World Perspectives, Inc., U.S.A.
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Registrants will be asked to provide their opinion on the most important issues facing the food and agribusiness sectors prior to the Congress. The survey results will provide a starting point for the discussion which will lead to the identification of the top issues and challenges to be addressed by food and agribusiness leaders over the next five years. This information will be used in planning future IAMA programs.

Chair:          Lord Plumb of Coleshill (UK), The Dairy Farm
Speakers:   Dale Hathaway, Executive Director, National Center for Food and Agricultural Policy, U.S.A.
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                 Wilhelm Henrichsmeyer, Professor, Universität Bonn Institut für Agrarpolitik, Germany
                      View Presentation as a PDF document Graph 1 Graph 2 Graph 3 (All graphs are Excel documents)
                 Sir Dryden Spring, Past Chairman, New Zealand Dairy Board, New Zealand
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This session will assess the state of support for free trade in agriculture from the perspective of countries which have historically benefited from free trade. The speakers will discuss the future of the WTO talks. Please see the insert for additional IPC Seminar Sessions.

Keynote Address:   Clayton K. Yeutter, Of Counsel, Hogan & Hartson, U.S.A.

Ambassador Yeutter, Former US Trade Ambassador, Former US Secretary of Agriculture, and 1997 IAMA President, will provide an over-view to some of the hot topics relating to international food and agricultural issues.

Moderator:   Clayton K. Yeutter, Of Counsel, Hogan & Hartson, U.S.A.
Panelists:     Scott Gordon, Chairman, Chicago Mercantile Exchange, U.S.A.
                  David Lehman, Managing Director, Product Development, Chicago Board of Trade, U.S.A.
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This session will focus on future prospects and changes that might take place in the role of commodity exchanges in managing risk. As technology and global industry restructuring takes place at a rapid pace, what kinds of strategies and tools will be employed in the future, and how will exchanges be transformed to serve existing and new customer bases?

Moderator:    William P. Mott, President, Agland Investment Services Inc., U.S.A.
Panelists:      Ejnar Knudsen, CEO, vTraction.com, U.S.A.
                        View presentation as a PDF document
                  Kip E. Pendleton, President & CEO, DirectAg.com, U.S.A.
                  Henry R. Winogrond, Executive Vice President, World Commerce Online, U.S.A.

Information Technology (IT) and the Internet have a major impact on business. Are they a tool or a threat to agribusiness? A restructuring of the global distribution of food and fiber is taking place with significant consequences for both those participating and those who are not. Use of this technology is no longer optional for agribusiness, nor is it easy, quick, or cheap. The changing playing field and the impact on agribusiness and consumers in the 21st Century will be discussed.

Technology: The Integration of Weather and Marketing Data

Moderator:   Nick Callazzo, Planalytics Agriculture, U.S.A.
Panelists:     William Tomlinson, President, Consumer Perspectives, Inc., U.S.A.
                        William Weaving, Sr. Vice President, Planalytics Agriculture, U.S.A.

The combination of historical weather and sales data provide a unique insight into the impact of weather on markets. This innovative approach incorporates improved longer range weather forecasts and allows a projection of market impacts that can be used in management decisions.

As the U.S. economy shifts from dependence on fossil fuel based energy toward greater use of biobased energy production and biobased industrial feedstocks, greater interest in environmentally sustainable energy and industrial input sourcing has taken place. Panelists will explore the potential for non-food, non-feed use of biobased products and the emerging opportunities for agribusiness.

The 2000 Presidential Banquet will celebrate the past 10 years of IAMA and provide a brief history of IAMA, its founding members, and their vision. IAMA President, Joe Sullivan, will introduce the incoming IAMA President, Ross McLaren, President and CEO, Shaw’s Supermarkets, Inc., a wholly-owned subsidiary of J. Sainsbury plc, UK.

All Congress Participants and Registered Guests are invited to attend. If you did not receive a "Presidential Banquet" ticket at check-in, please see the IAMA Registration Desk.

WEDNESDAY, JUNE 28

Moderator:   Joyce Cacho, Vice President, Rabobank International, U.S.A.
Speakers:    Michael Dundon, First Vice President and Manager, Carr Futures, Inc., U.S.A.
                       John F. Berardi, EVP Farmland Industries, Inc. & President of Grain & Grain Processing Group, Farmland Industries, Inc., U.S.A.

This session will provide insights into different and exotic methodologies needed for dealing with future financial and risk management needs. It will also deal with the potential for changing current risk characteristics into a positive financial structure.

Moderator:   William W. Whipple, Executive Vice President, Harris Nesbitt, U.S.A.
Speakers:     Donald Coxe, Chairman & Chief Strategist, Harris Investment Management Inc., U.S.A.
                       Sherry S. Cooper, Senior Vice-President & Chief Economist, BMO Nesbitt Burns Inc., Canada
                       View presentation as a PDF document

This session will address the globalization of agro-food industries and businesses and the inherent multi-faceted risk characteristics in the global business environment. Included risks are political, commercial, sovereign, financial, foreign exchange, and cultural. Insights will be offered into possible risk hedging tactics and risk minimization through non-traditional means. Views will be offered on various organized exchange product categories useful in managing specific kinds of risk.

Keynote Address:   Samuel Zell, Chairman of the Board, Equity Group Investments, LLC, U.S.A.

The key question of why investors do or do not invest in businesses and industries will be addressed by Sam Zell, the luncheon speaker. Specifically, he will focus on the factors that investors use to evaluate investment opportunities and what motivates them to invest in specific industries or businesses.

Facilitators:   Michael L. Cook, Robert D. Partridge Chair, University of Missouri - Columbia, U.S.A.
                   Fabio Ribas Chaddad, Ph.D. Candidate, University of Missouri - Columbia, U.S.A.
                         View presentation as a PDF document, Exhibits 1-9 and 15, Exhibit 10,  

Increased vertical and horizontal competition in the Australian dairy chain prompted the cooperatively owned Dairy Farmers Group - a national leader in the liquid milk market - to redesign its organizational structure. The board’s proposal of a cooperative-corporate hybrid model is under challenge from a hostile takeover bid by the Italian heavyweight Parmalat. The case study discusses organizational changes and the role of dairy producers in global supply chain strategies.

Presenter:   George Panos, Vice President, Carr Futures, U.S.A.

This workshop will focus on crop and enterprise risk management approaches. At the micro level, we will consider how the distributions of production and price affect the hedging decision process and revenue outcomes. At the macro level, the material borrows from the Markowitz model of portfolio theory in evaluating the farm as a diversifiable portfolio of various agricultural endeavors, and how such an approach affects the debt/equity decision.

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