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Pre-Spreading and Returns to Storage

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  • McKenzie, Andrew
  • Simpson, Amanda

Abstract

Returns to storage at the farm level have received much attention in the literature. The main objective of this paper was to analyze returns to storage at the elevator or merchandising level. Specifically basis trading and pre-spreading marketing strategies are empirically evaluated with respect to an October- March storage period in North Central Illinois corn. Results indicate that basis trading strategy is able to enhance returns to storage and reduce the risk associated with storing grain. Although pre-spreading strategy results in higher returns to storage for some years, there is no systematic evidence that pre-spreading can enhance returns or reduce risk above and beyond a simple basis trading strategy.

Suggested Citation

  • McKenzie, Andrew & Simpson, Amanda, 2010. "Pre-Spreading and Returns to Storage," 2010 Conference, April 19-20, 2010, St. Louis, Missouri 285316, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    • Handle: RePEc:ags:nccc10:285316
    DOI: 10.22004/ag.econ.285316
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