Crashing Dirt Bikes to Chasing Cows: Scott Irwin Releases New Book on Futures Market
Futures markets are a mystery, says Scott Irwin, author of the new book, Back to the Futures, is now available for pre-order and is scheduled to be released on April 19 on Amazon.
In Back to the Futures, agricultural economist Scott Irwin explains why it’s essential to understand futures markets, whether you’re talking about grain, cattle, or the largest market of them all—crude oil.
"Fortunes are made and lost in these markets, yet most people know little about how they work. These massive markets lie at the heart of our economy, affecting us all," Irwin explained in a release.
His goal is to bring the world of futures trading to life, drawing readers in by sharing his "wild, life-threatening adventures with motorcycles, snowmobiles, race cars, farm equipment and renegade cows" while growing up on an Iowa farm.
Throughout the book, he explains how to reduce risk in today’s intense arena of commodity trading. This book includes perspectives from other experts such as Terry Duffy, CEO of the CME Group, and Leo Melamed, who revolutionized the market with electronic trading.
Irwin believes the book will bring clarity on why future markets are crucial for farmers and consumers, the critical role future markets play in the financial system and the role speculators play in making these markets work.
"No matter your experience or educational background, you can learn how the commodity futures market works. Not only is it possible, but it is necessary," Irwin says. "However, there are many training tools and programs out there that complicate the process. This is why we wanted to write a book that can break down the markets for anyone. It doesn’t need to be a mystery, nor does the learning process need to be boring."
Editor's Note: Irwin holds the Laurence J. Norton Chair of Agricultural Marketing in the Department of Agricultural and Consumer Economics at the University of Illinois at Urbana-Champaign. He earned a bachelor's degree in agricultural business from Iowa State University and both a master's degree and a Ph.D. in agricultural economics from Purdue University. His research on commodity markets is widely cited by other academic researchers and is in high demand among farmers, market analysts, traders, and policymakers.
