Corn price differentials among Illinois elevators can often exceed transportation costs. Using primary data, we examine the effects of micro-market structure variables on the differentials in bids prices offered by Illinois elevators. Our findings suggest the existence of a highly developed,...

In developing optimal hedge ratios for the soybean processing margin, many authors have illustrated the importance of considering the interactions between the cash and futures prices for soybeans, soybean oil, and soybean meal. Conditional as well as time-varying hedge ratios have been examined,...