Grain Basis Trading 101

Date: Thursday, April 18, 2024
Time: 02:00 PM ET / 01:00 PM CT / 12:00 PM MT / 11:00 AM PT [Prevailing Time]
Presenters: Jeff Reardon, CPA, Certified Business Valuation Specialist, White Commercial Corporation, Roger Gattis, Certified Business Valuation Specialist, White Commercial Corporation
Moderator: Wayne Sine, CPA, Education Director, National Society of Accountants for Cooperatives
Learning Objectives:
1. Discuss the principles and language of hedging grain.
2. Discuss the community benefits of helping farmers sell high prices and end users buy low prices.
3. Examine how mark-to-market accounting is necessary for grain merchants to communicate with their financial partners.
Field of Study: Accounting
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.
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Course Description

This course will introduce you to the basis trading side of the grain business as it applies to a commercial grain elevator. Through an understanding of the foundational principles you will learn in this course, you will take your first step toward becoming an active participant in the basis trading side of the grain business.

Presenter and Moderator Bios

Presenter: Jeff Reardon, CPA, Certified Business Valuation Specialist, White Commercial Corporation

Jeff Reardon joined White Commercial Corporation in 2008 after many years in the banking business. His work focuses on financial consulting services, risk management and basis trading strategies. Jeff is a CPA certified in business valuation and has authored and directs an on-line 4 week Grain Financing Certification Course and hosts multiple public lender workshops and grain accounting workshops across the United States and Canada each year. Jeff has worked with CoBank, Farm Credit and many other Grain Lenders and Public Accounting Firms throughout North America on in house training for their teams. He has also Co-authored The Grain Elevator Practical Guide to Mark-to-Market Accounting Book.

Presenter: Roger Gattis, Certified Business Valuation Specialist, White Commercial Corporation

Starting in 2003 Roger managed and merchandised for multiple coop’s and private grain companies in both the south and the southern plains, and since 2014 he has been a grain merchandising specialist with White Commercial in Kansas City. As a member of the Merchandising Development Team at White Commercial he helps with the education and business development aspects of their participant grain companies. He also facilitates grain merchandising workshops throughout the United States and Canada, and is a co-host of The Elevator’s Cut podcast.

Moderator: Wayne Sine, CPA, Education Director, National Society of Accountants for Cooperatives

After retiring as Tax Director for Southern States Cooperative, Wayne Sine was asked to serve as Education Director for NSAC. He has been a long-time and active member of NSAC, having served as past President of the Atlantic Chapter and past Chair of the Tax Committee. In addition to his work with NSAC, Wayne has served on the Legal, Tax, and Accounting (LTA) Committee of the National Council of Farmer Cooperatives, Chaired the Tax Committees for both the Virginia Chamber of Commerce and the Virginia Manufacturers Association, served on the Tax Policy Committee of the Virginia Society of CPAs, and served as past Region Vice President for the Tax Executives Institute.

Free for NSAC Members / $56.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.


All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or