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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," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 13(1:), April.
  • Handle: RePEc:ags:nejare:159266
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    File URL: http://purl.umn.edu/159266
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    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. Paul, Allen B., 1976. "Treatment of Hedging in Commodity Market Regulation," Technical Bulletins 158109, United States Department of Agriculture, Economic Research Service.
    4. 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. 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.
    2. 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).
    3. 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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