Navigating commodity market price risk

Being a software supplier to the world of commodity traders and mostly purchasers I have the opportunity to meet and speak with many involved in the agri-commodity industry, most of the time the conversations allow to a go a bit deeper than only market information as software forces you to understand the detailed processes in order to automate. One of the things I noticed during all these conversations is the diversity on how people perceive market price risk and more prominent, the diversity on how they manage it. Obviously there is no good or bad, but although market price risk management has a long history apparently there is some lack of standardization. Apparently it is complex to standardize or find a real common approach, despite the existence of professional exchanges such as the Chicago Mercantile Exchange (CME) and Intercontinental Exchange (ICE). Such and exchange would say that the answer is derivatives, being perceived as the fundamental risk management tool. I must admit that the exchanges do have a point here. What else would be more suitable to manage the risk of fluctuating prices? What I have seen over the last 20 years is that it is not the available toolset

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