Blue, E. N.; Hayenga, Marvin L.; Lence, Sergio H.; … - Department of Economics, Iowa State University - 1998
Soybean futures spreads in the 1948-1997 period are evaluated for the associated monetary risks inherent in multiyear hedge-to-arrive contracts (HTAs). For all years, the probability of having a negative old crop-new crop spread is approximately 75%. However, the high-price years have a 100%...