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We study the difference in the volatility dynamics of CBOT corn, soybeans, and oats futures prices across different delivery horizons via the smoothed Bayesian estimator of Karali, Dorfman, and Thurman (2010). We show that the futures price volatilities in these markets are affected by the...
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Little information exists on grain merchandisers, their characteristics, and the skills needed to be successful. This research contributes toward filling this gap. A summary of survey responses from 230 experienced grain merchandisers quantifies personal characteristics, skills perceived as...
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wheat prices over the 1980/81 through 2006/07 marketing years. Empirical methods use historical forecast errors to estimate …
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The lack of consistently acceptable convergence performance for Chicago Board of Trade (CBOT) corn, soybean, and wheat contracts since late 2005 has been widely discussed (e.g., Henriques, 2008).1 Convergence performance is summarized in Figure 1, depicting delivery location basis levels on the...
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The United States Department of Agriculture (USDA) has a number of agencies that are involved in collecting, analyzing, forecasting, and disseminating information about the production and consumption of the corn and soybean crops (Spilka, 1983; Vogel and Bange, 1999; Lusk, 2013). Market participants...
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combined with the live cattle marketing recommendations to approximate the margin that a typical feedlot would face from the … third quarter of 1999 through 2004. Other marketing assumptions were also applied to approximate a real world feedlot in … purchased at rates that will yield on average 1 cwt. of live cattle per quarter, or 4 cwt. total per year, 2) the marketing …
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