Head of Barley Trading

Job Purpose

The Head of Barley Trading is to have full commercial and leadership responsibility for ADM Agriculture's Feed Barley and Malting Barley businesses, including trading strategy, position and risk management, P/L delivery and the performance and development of the barley trading team, within the objectives and risk parameters agreed with the Head of Grain Trading.

Main Responsibilities

• Have full accountability for the commercial performance, positions, risk and P/L of the Feed Barley and Malting Barley books, delivering agreed profit, volume and return objectives within company risk parameters.
• Set and own the trading strategy for both barley books, including physical position, basis, futures, spreads, flat price, exports and relevant cross-commodity relationships, and ensure the strategy is clearly communicated and executed.
• Independently manage physical and derivative trading positions and personally identify and execute trading opportunities where senior judgement, market conviction and risk capacity can add value.
• Collate and interpret UK, European and global market information, maintaining a strong view on supply and demand, market structure and sentiment and providing clear position, risk and trade recommendations to the Head of Grain Trading.
• Directly manage the Feed Barley and Malting Barley traders, setting objectives, allocating responsibility, reviewing performance and developing their commercial judgement, trading capability and succession.
• Ensure the day-to-day barley books are operated within the agreed strategy and delegated responsibilities. Challenge decisions robustly and intervene where risk, execution or commercial performance falls below the required standard.
• Set appropriate prices/markets and buying requirements for Farm Traders and ensure timely communication of market movements, price changes and commercial priorities to maximise origination and value to the company.
• Build and lead relationships with key merchants, maltsters, feed compounders, exporters and strategic trading partners, agreeing commercial frameworks, tonnages, pricing mechanisms and grower programmes where appropriate.
• Identify and develop additional value through physical trading, cash market liquidity, exports, freight, basis and the relationship between barley, wheat and other relevant commodities.
• Liaise closely with Farm Traders, the wider Trading team and Logistics/Shipping to make cost-efficient trading and execution decisions and take responsibility for the correct contractual execution of the company's barley commitments.
• Review haulage overspend, claims, defaults, quality issues and other non-budget costs impacting P/L and take action to improve execution quality and trading returns.
• Work with seed breeders, the Seed trading team, regional managers and customers to identify and develop commercially relevant varieties, supply programmes and new market opportunities.
• Act as a senior leader within the Grain Trading team, raising standards of trading discipline, risk management, integrity and commercial decision making and contributing to wider desk strategy, capability and talent development.