Forecasting performance of December corn and November soybean futures contracts during the previous spring was evaluated using the commonly specified price‐level and percent‐change models. These models invoke different assumptions regarding stationarity. Using Stein's analytical framework,...

An updated supply of storage is estimated to reflect recent developments in the literature. This study adds a measure of price variability, specifically implied volatility. It also adds a measure of the call‐option value to sell stocks before the end of the storage period, specifically a...