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Kansas Wheat Basis Expectations During Periods of Nonconvergence

Luke A. Minnix, Elizabeth A. Yeager
2019 unpublished

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Nonconvergence in commodity markets has caused some market participants to question the effectiveness of using futures contracts to effectively set target prices. This study examines 90 grain handling facilities across Kansas since 2004 and shows spatial patterns of change in hard red winter wheat basis with respect to basis movements at a regular (delivery) facility in Kansas City and the effect of nonconvergence. Producers and farm managers can more accurately predict changes in local basis
more » ... th this information. Results indicate the presence of nonconvergence at delivery location has a significant effect on basis at some, but not all, outlying locations.
doi:10.22004/ag.econ.322668 fatcat:l3lxghqsvzcqdhyufn3qxyr7uy
Citation

Luke A. Minnix, Elizabeth A. Yeager. "Kansas Wheat Basis Expectations During Periods of Nonconvergence." (2019)