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Cost Of Forward Contracting Hard Red Winter Wheat

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  • Townsend, John P.
  • Brorsen, B. Wade

Abstract

Two methods were used to estimate the cost of forward contracting hard red winter wheat. One hundred days before delivery, the estimated cost of forward contracting ranged from six cents/bu. To eight cents/bu. Thus, further evidence is provided that the cost of forward contracting grain is not zero.

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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 32 (2000)
Issue (Month): 01 (April)
Pages:

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Handle: RePEc:ags:joaaec:15390

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Web page: http://www.saea.org/jaae/jaae.htm
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Keywords: forward contracting; nonparametric regression; wheat; Marketing;

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References

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  1. HÄRDLE, Wolfgang, 1992. "Applied nonparametric methods," CORE Discussion Papers 1992003, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. B. Wade Brorsen & John Coombs & Kim Anderson, 1995. "The cost of forward contracting wheat," Agribusiness, John Wiley & Sons, Ltd., vol. 11(4), pages 349-354.
  3. Lence, Sergio H., 1996. "Relaxing the Assumptions of Minimum-Variance Hedging," Staff General Research Papers 5156, Iowa State University, Department of Economics.
  4. Oliver LINTON, . "Applied nonparametric methods," Statistic und Oekonometrie 9312, Humboldt Universitaet Berlin.
  5. DeJong, David N, et al, 1992. "Integration versus Trend Stationarity in Time Series," Econometrica, Econometric Society, vol. 60(2), pages 423-33, March.
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Citations

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Cited by:
  1. Escalante, Cesar L. & Barry, Peter J., 2001. "Risk Balancing In An Integrated Farm Risk Management Plan," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 33(03), December.
  2. Shah, Samarth & Brorsen, B. Wade & Anderson, Kim B., 2009. "Liquidity Costs in Futures Options Markets," 2009 Conference, April 20-21, 2009, St. Louis, Missouri 53047, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
  3. Mallory, Mindy L. & Zhao, Wenjiao & Irwin, Scott H., 2012. "Farmer’s Income Shifting Option in Post-harvest Forward Contracting," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124692, Agricultural and Applied Economics Association.
  4. Irwin, Scott H. & Martines-Filho, Joao & Good, Darrel L., 2003. "The Pricing Performance Of Market Advisory Services In Corn And Soybeans Over 1995-2001," AgMAS Project Research Reports 14773, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
  5. Escalante, Cesar L. & Barry, Peter J., 2001. "Farm-Level Evidence On The Risk Balancing Hypothesis From Illinois Grain Farms," 2001 Annual meeting, August 5-8, Chicago, IL 20617, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  6. Taylor, Mykel R. & Dhuyvetter, Kevin C. & Kastens, Terry L., 2006. "Forecasting Crop Basis Using Historical Averages Supplemented with Current Market Information," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(03), December.
  7. Irwin, Scott H. & Good, Darrel L. & Martines-Filho, Joao & Batts, Ryan M., 2006. "The Pricing Performance of Market Advisory Services in Corn and Soybeans Over 1995-2004," AgMAS Project Research Reports 37513, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
  8. Shi, Wei & Irwin, Scott H. & Good, Darrel L. & Dietz, Sarah N., 2005. "Wheat Forward Contract Pricing: Evidence on Forecast Power and Risk Premia," 2005 Conference, April 18-19, 2005, St. Louis, Missouri 19043, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
  9. Davis, Todd D. & Patrick, George F. & Coble, Keith H. & Knight, Thomas O. & Baquet, Alan E., 2005. "Forward Pricing Behavior of Corn and Soybean Producers," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 37(01), April.
  10. Hatchett, Robert B. & Brorsen, B. Wade & Anderson, Kim B., 2009. "Optimal Length of Moving Average to Forecast Futures Basis," 2009 Conference, April 20-21, 2009, St. Louis, Missouri 53048, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
  11. Good, Darrel L. & Irwin, Scott H. & Martines-Filho, Joao & Hagedorn, Lewis A., 2005. "The Pricing Performance of Market Advisory Services in Corn and Soybeans over 1995-2003," AgMAS Project Research Reports 14775, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.

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