|Farmetrics, the first prediction market tailored for U.S. agriculture, introduced the Farmetrics Prediction Market Educational Program and a new Web site for agricultural education teachers and students, https://www.farmetrics.com/Scholar. Classes that win weekly contests with the accuracy of their predictions benefit their schools by earning Reward Points that can be redeemed for award cards. |
“This exciting new educational effort from the Farmetrics prediction market was developed with classroom education and collaboration as the goal,” said Bill Towles, who manages the Farmetrics Prediction Market. “It is intended to provide a new measure of classroom performance, and we plan to continue enhancing the site in the future. As always with Farmetrics, there is never any cost to participate or win.”
At https://www.farmetrics.com/Scholar classroom participants submit predictions for yield, acres planted and acres harvested for crops such as corn and soybeans. Schools determine in which of these weekly contests their classes will participate. Class performance is measured against that of other classes around the country by the accuracy of predictions, as determined by official U.S. Department of Agriculture statistics. The schools with winning classes earn Reward Points that can be redeemed for award cards that can be used by the school to purchase necessary goods and services.
In addition to class performance, individual student performance is also reported, although it is not calculated for purposes of awarding Reward Points. As an added educational tool, in many counties, the class predictions are compared against the predictions of local farmers.
School representatives directly register students for the school’s participation, and Farmetrics does not gather or record any student information beyond anonymous screen names. Reward Points are awarded to the schools and may be redeemed for award cards.
Representatives from Farmetrics will be demonstrating the new Web site at the 2007 National FFA Convention in Indianapolis, October 24-27.
The Farmetrics Prediction Market is sponsored by Bunge Global Markets, Inc.