Idaho Wheat Commission Funds Risk Management Chair At UI

Last week, the University of Idaho announced a $2 million gift from the Idaho Wheat Commission to fund a new effort to expand education focused on risk management.  The funds will be used to enhance programs in ag commodity and financial risk management.  Michael Parrella, dean of the U of I’s College of Agricultural and Life Sciences said in the 21^st Century, it’s not enough to just grow the wheat.

“We can produce high quality wheat, these growers really know how to grow wheat, but that’s not enough they have to be able to market it effectively and often, that separates profit from no profit.”

The funds will be used to create an endowed chair, which Parrella expect to provide valuable outreach to commodity groups, agribusinesses, producers, financial institutions, market participants, policy makers and others who use active risk management practices.  He added this will provide students with the valuable real-life experience so succeed in agriculture.

Parrella also could not say enough good things about the Idaho Wheat Commission, adding they serve as an example for other commissions in the Gem state.

"Budgets for education have been reasonable flat, there’s been really no increase that’s not only for the education of the students, but when you think about the ag experiment station, when you think about extension, there’s really nowhere where budgets are increasing, so if you want excellence, it’s going to be the commissions stepping up and providing that excellence, and that’s what they’ve done.”

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