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Forecasting the Basis for Corn in Western New York

Author

Listed:
  • Taylor, Patricia D.
  • Tomek, William G.

Abstract

This study develops a simple model to forecast the basis for corn in a specific region. Improved forecasts can improve hedging decisions. Basis behavior, however, depends on explanatory variables that are themselves difficult to forecast with precision. Thi limits the u efulness of the ba is model , but it doe offer some benefit over naive foreca ts.

Suggested Citation

  • Taylor, Patricia D. & Tomek, William G., 1984. "Forecasting the Basis for Corn in Western New York," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 13(01), pages 1-6, April.
    • Handle: RePEc:ags:nareaj:159266
    DOI: 10.22004/ag.econ.159266
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    References listed on IDEAS

    as
    1. Larry Martin & John L. Groenewegen & Edward Pidgeon, 1980. "Factors Affecting Corn Basis in Southwestern Ontario," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(1), pages 107-112.
    2. Feldstein, Martin S, 1971. "The Error of Forecast in Econometric Models when the Forecast-Period Exogenous Variables are Stochastic," Econometrica, Econometric Society, vol. 39(1), pages 55-60, January.
    3. T. Dudley Wallace, 1977. "Pretest Estimation in Regression: A Survey," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(3), pages 431-443.
    4. Paul, Allen B., 1976. "Treatment of Hedging in Commodity Market Regulation," Technical Bulletins 158109, United States Department of Agriculture, Economic Research Service.
    5. Querin, S.F. & Tomek, W.G., 1983. "Hedging Strategies Utilizing Technical Analysis: An Application to Corn in Western New York," Research Bulletins 184095, Cornell University, Department of Applied Economics and Management.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Hoffman, Linwood & Glauber, Joseph & Lin, William, 1986. "Effects Of The Farmer—Owned Grain Reserve Upon State—U.S. Grain Price Differentials ," 1986 Annual Meeting, July 27-30, Reno, Nevada 278082, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Kahl, Kandice H., 1989. "Determinants of the Storage Season Corn Basis in South Carolina," Working Papers 116878, Clemson University, Department of Agricultural and Applied Economics.
    3. Tomek, William G. & Peterson, Hikaru Hanawa, 2000. "Risk Management In Agricultural Markets: A Survey," 2000 Producer Marketing and Risk Management Conference, January 13-14, Orlando, FL 19580, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Tomek, William G., 1993. "Dynamics of Price Changes: Implications for Agricultural Futures Markets," Staff Papers 121339, Cornell University, Department of Applied Economics and Management.

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