Back to the Futures: Crashing Dirt Bikes, Chasing Cows, and Unraveling the Mysteries of Commodity Futures Markets

by Scott Irwin, Doug Peterson

Overview

Cracking the code of commodity futures markets

Many people believe that a background in economics is required to understand commodity futures markets. But what if you could learn how these markets work-and have fun while doing it? Introducing Back to the Futures, a book that provides a unique perspective on the world of commodity futures markets, shaped by the personal experiences and professional insights of Dr. Scott Irwin, a leading expert in the field. Readers will learn about the role of speculators, price discovery, the evolution of trading practices, the impact of regulatory measures, the transition from open outcry to electronic trading, commodity investments, and much more. A storytelling format is used throughout that is sure to keep you entertained.

1. Experience the author's journey from a farm boy in Iowa to a renowned agricultural economist.
2. Gain an inside look into the world of commodity futures trading, with a special focus on the role of speculators.
3. Learn from other industry experts, such as Terry Duffy, CEO of the CME Group, the largest futures exchange in the world, and Leo Melamed, the man who revolutionized futures markets with electronic trading.
4. Discover why it is essential to understand futures markets, whether you are talking about soybeans, cattle, or the largest market of them all-crude oil.
5. Take a front-row seat as the author defends commodity futures markets during the 2008 economic crisis.

Readers of Back to the Futures will gain a rich understanding of commodity futures markets that informs their own trading decisions and investment perspectives. This book is suitable for both novices and experts in the field.

Dr. Scott Irwin, a global thought leader in agricultural economics, has been studying, teaching, and participating in the world of commodity futures since growing up on his family farm in Iowa. His expertise and captivating storytelling abilities make him the ideal guide for this unforgettable journey through the world of commodity trading.

This memoir-meets-economics book has received the following awards:

1. 2024 Finalist for the Eric Hoffer Award for Excellence in Independent Publishing
2. 2024 Semi-Finalist for the Book Life Prize in Business and Personal Finance
3. 2023 Long List Selection for Inc. Magazine's Non-Obvious Book Awards

Product Details

ISBN-13:	9798987642429
Publisher:	Ceres Books LLC
Publication date:	08/07/2023
Sold by:	Barnes & Noble
Format:	eBook
Pages:	368
File size:	8 MB

About the Author

Dr. Scott H. Irwin, the Laurence J. Norton Chair of Agricultural Marketing at the University of Illinois, is a renowned global thought leader in agricultural economics and a multi-published author of commodity books. His research on commodity markets is highly respected and sought-after by academics, farmers, and industry experts, earning him media interviews with major outlets like The Wall Street Journal and The New York Times.With over 40,000 followers on social media, Dr. Irwin is the most followed agricultural economist worldwide. He's best known for his work on commodity market speculation and biofuel policy, actively participating in global debates and testifying before prestigious institutions.In addition, his vision and leadership are a driving force behind innovative agricultural extension programs, including the award-winning farmdoc project, known as the "Wall Street Journal of ag business." Dr. Irwin's extensive honors and accolades attest to his impact in the field.A lifelong fascination with commodity markets led him to write Back to the Futures, among other books on commodity markets.
Doug Peterson is the award-winning author of 74 books, including six historical novels and over 40 children's books for VeggieTales. Doug's Amazon best-selling Underground Railroad series includes three novels based on real people and true stories--"The Vanishing Woman," "The Disappearing Man," and "The Tubman Train." His newest series, the Civil War series, features two books--"The Lincoln League" and "The Dixie Devil." In addition to his novels, Doug authored 42 books in the popular VeggieTales series."The Slobfather" won the 2004 Gold Medallion Award for preschool books, and he was co-storywriter for the best-selling video, "Larry-Boy and the Rumor Weed." He also has co-written several books, including "Of Moose and Men" and "The Call of the Mild" with Torry Martin. Most recently, he collaborated with Zach and Alison Zehnder on "The Red Letter Challenge Kids," Being Challenge Kids," and "Forgiving Challenge Kids." He was also head writer for the team that produced six comic books in the Legends of Lightfall series.In 2019, Doug wrote his first full-length play, "Friends Indeed!," which is about the improbable friendship between Benjamin Franklin and the evangelist George Whitefield. It had two well-received performances before Covid struck. Doug has also written for the University of Illinois for over 40 years, covering everything from engineering and agriculture to chemistry and history. His popular short story, "The Career of Horville Sash," was made into a music video featuring Grammy-winner Jennifer Warnes, and he even co-wrote "Roman Ruins," an episode in the bestselling line of How to Host a Murder party games.

Table of Contents

1. My Near-Death Experience

 

2. Daredevils

 

3. Pit Bulls

 

4. Elvis and Evel in Iowa

 

5. My Spectacular Speculation Crackup

 

6. The Engine of Efficiency

 

7. Towing Icebergs

 

8. Steer Crazy

 

9. All That Glitters is Goldman

 

10. The Onion Crying Game

 

11. The Destroying Angel

 

12. Ferris Irwin's Week Off

 

13. Bubble Boy

 

14. The Hatfields and the McCoys

 

15. All the Smears That Are Fit to Print

 

16. The Market Finds a Way

 

17. Trading Spaces

 

18. Outrunning Your Angels

 

19. Twister!

 

20. Out of the Box

 

21. The Running of the Cows

 

Editorial Reviews

02/05/2024

Blending memoir with a comprehensive yet approachable guide to future markets, agricultural Scott Irwin correlates his daredevil adventures as a young man growing up (and jumping ditches on motorcycles) on an Iowa farm with the less deadly but still precarious "gamble" of being a speculator, a term he describes as "the much-abused label" of futures traders. Sharing with readers the history and everyday experience of future trading, from the “pit”s of the past to today’s electronic trading, plus challenges and rewards that traders face, Back to the Futures is an in-depth look into farming, resources, and the monetary risks and rewards associated with agricultural contracts.

In clear and personable language, Irwin offers an illuminating introduction to the ins and outs of the business of supply and demand, hedging in agricultural economics, and controversies over future trading. Balancing the complex details of trading with the antics of his childhood is an unorthodox approach, but the choice creates an inviting narrative while revealing the workings of commodity markets. With the goal to "shed light on the market's mystery in a way that is understandable to the average person,” Irwin shares insight through his hard-won experience and the knowledge of other experts such as Terry Duffy, the owner of the largest commodity trading exchange in the world. Exploring the "global controversy" of speculation in future markets, ways to manage price risks, and what it means to "corner the market", Irwin delves into economics, consumership, and "systemic risk.”

With persuasive power, Back to the Futures defends "the vital role" of speculators, what he considers the dangers of over-regulation, and the importance of future trading in the global economic financial system. Irwin's chronicling of his childhood scraps (being hit by a Pepsi truck; running from rogue steers) and his personal experience in the business of future trading make for an informative and engaging resource.

Takeaway: Rousing introduction to and defense of future trading, with stunts.

Comparable Titles: Emily Lambert's The Futures, Thomas Smith's Futures Trading

Production grades Cover: A Design and typography: A Illustrations: N/A Editing: A Marketing copy: A

BookLife Reviews