Associate, Physical Dairy Trading – Commodities

Wells Fargo•Houston, TX

3d•$119,000 - $224,000

About The Position

Corporate & Investment Bank (CIB) delivers a comprehensive suite of banking, capital markets and advisory solutions, including a full complement of sales, trading and research capabilities, to corporate, government and institutional clients. We focus on our clients' overall financial needs, with consideration and respect for their total relationship with Wells Fargo. Markets provides solutions to clients with the means to manage their exposure through various derivatives, lending and cash products across Structured Products Group, Macro, Equities, Municipal Products Group, Credit Sales & Trading. About This role: Seeking an Associate – Physical Dairy Trading – Commodities. Looking for a candidate who can help build and expand physical dairy trading capabilities by onboarding warehouses, cultivating counterparty relationships, and executing transactions across milk, cream, butter/AMF, cheese, and powders. In this role, you will: Develop Physical Trading Capabilities: Lead efforts to onboard warehouses, establish counterparty relationships, and manage contracting, logistics, and delivery processes. Source and Execute Transactions: Handle physical dairy transactions (milk, cream, butter/AMF, cheese, powders) and negotiate long-term supply/off-take agreements. Build and deepen relationships with producers, processors, and distributors. Risk Management: Oversee the physical dairy trading book, manage risk using exchange and OTC instruments, and maintain disciplined risk/limits adherence. Logistics Coordination: Work with internal operations and scheduling teams to ensure smooth execution of deliveries, warrants/storage, and documentation. Market Monitoring & Strategy: Track supply-demand fundamentals, storage and production reports, and trade auctions to inform pricing and competitiveness. Contribute to trade ideas and commercial strategy. Cross-Functional Collaboration: Work with structuring, legal, risk, and back-office teams to support transactions from origination through execution and lifecycle management.

Requirements

2+ years of Securities Trading experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Nice To Haves

2+ years of industry experience in the relevant sector
Experience in physical dairy trading, origination, or marketing.
In-depth knowledge of dairy products (milk, cheese, butter, powders, whey) and their market dynamics, including quality specifications and logistics.
Strong grasp of market fundamentals, basis and spreads, and physical execution (contracting, logistics, delivery, settlement).
Experience in working‑capital solutions tied to physical inventory.
Established relationships across producers, consumers, merchants, and warehouses in the U.S.
Excellent analytical, communication, and decision‑making skills in a fast‑paced environment.

Responsibilities

Develop Physical Trading Capabilities: Lead efforts to onboard warehouses, establish counterparty relationships, and manage contracting, logistics, and delivery processes.
Source and Execute Transactions: Handle physical dairy transactions (milk, cream, butter/AMF, cheese, powders) and negotiate long-term supply/off-take agreements. Build and deepen relationships with producers, processors, and distributors.
Risk Management: Oversee the physical dairy trading book, manage risk using exchange and OTC instruments, and maintain disciplined risk/limits adherence.
Logistics Coordination: Work with internal operations and scheduling teams to ensure smooth execution of deliveries, warrants/storage, and documentation.
Market Monitoring & Strategy: Track supply-demand fundamentals, storage and production reports, and trade auctions to inform pricing and competitiveness. Contribute to trade ideas and commercial strategy.
Cross-Functional Collaboration: Work with structuring, legal, risk, and back-office teams to support transactions from origination through execution and lifecycle management.