Hi, I need advice on how to best transition into a physical trader at my company from my current role in commodity research
Background: I'm in agribusiness space for more than 5 yrs. My current role is in commodity research, prior spent a few years in grain procurement with strong track record. MSc. BSc. Bilingual. I've moved around quite a bit, almost every 2yrs seeking trading desk jobs that get me closer to my goal of becoming a trader but haven't struck out.
my current company is growing, but doesn't have a trainee or jr. trader program. More importantly, hiring managers seem more interested in seasoned traders as hires at this stage.
I'm worried that trading desk opening won't come by as often as they fill these roles with experienced hires.(In my experience trader jobs have long tenures). Also, company does't have any trainee program in place
I have good rapport with trading managers, but don't know how sell them on the idea of giving me a chance to trade?
thoughts/advice appreciated yours, trapped monkey
What is your experience in grain procurement? I'm not sure what company you work for, but do you guys have a physical asset base? Ethanol plants? Grain elevators? Export terminals? These physical assets, often located in rural territory or non-financial center cities, are always looking for merchandisers. Volunteer to move out to one of those assets and you'll learn the basics of the physical grain trade. You'll learn cross-country truck trading, trends in basis movement, how farm management affects the cash grain market, etc. A few years out there is more valuable physical trading experience than staring at excel spreadsheets running regressions on USDA data. Even if your own company won't move you back, you'll have the kind of physical merchandising experience other traders seek out. Most of the real, physical, grain trade happens out in the country where your producers and end users are all located.
Thanks for the feedback! yes current employer has all of the above facilities. My experience was in grain buying in rural areas: took the chance early in my career and moved/lived in small town, buying from farmers and negotiating contracts and execution into elevator and crushing facilities for previous employers. I excelled in that role, but didn't really enjoy living in the countryside and after few years took a research job with my current employer at HQ in hopes of pursing trading.
If I understand correctly, you're saying if I can't get into trading with current employer given my background I should be considering other options?
again, thanks for your input
Yeah, the countryside is not for everyone but if you want to be a physical grain trader, its a good place to cut your teeth for a year or two. If you've been out merchandising at a facility and your current company doesn't have positions available on a desk at HQ, it might be time to look at another company. It sounds like you've got the background for a trader/merchandiser desk at HQ.
Just be aware of what cities you're looking to live in. Grain trading desk jobs aren't located in NYC or San Francisco. Cargill is in Minneapolis, Bunge is in Saint Louis, ADM is in Decatur, IL. Omaha and Kansas City have a good amount of mid-size firms. Learn to love the Midwest.
Have you mentioned to anyone in the company that you're interested in learning the ropes of trading? If they are expanding their trading desk then I would assume they would be looking for potential Assistant Traders or some support function to assist traders.
Would be worthwhile to maybe check if you haven't so far as another angle to get into the trading desk.
thanks for the feedback! yes, have informed my manager and he's aware of my intentions to pursue a career in trading and offered support. However, he has also delegated the hiring processes to senior traders and they seem less enthusiastic about taking me on (have approached some of them earlier about the matter) at least in the near future. Desks have recently take on more experienced traders to fill roles, makes me feel like in a catch-22....not sure if I should I bide my time, or look to spread my wings?
appreciate guidance as to what are best next steps
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