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| Dietz, Sarah N.; Aulerich, Nicole M.; Irwin, Scott H.; Good, Darrel L.. |
| The purpose of this paper is to investigate the marketing performance of wheat farmers in Illinois and Kansas over 1982-2004. The results show that farmer benchmark prices for wheat in Illinois and Kansas fall in the middle-third of the price range about half to three-quarters of the time. Consistent with previous studies, this refutes the contention that Illinois and Kansas wheat farmers routinely market the bulk of their wheat crop in the bottom portion of the price range. Tests of the average difference between farmer and market benchmark prices are sensitive to the market benchmark considered. Marketing performance of wheat farmers in Illinois and Kansas is about equal to the market if 24- or 20-month market benchmarks are used, is slightly above the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Benchmarks; Illinois; Kansas; Marketing; Performance; Price; Wheat; Agricultural Finance. |
| Ano: 2008 |
URL: http://purl.umn.edu/37622 |
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| Shi, Wei; Irwin, Scott H.; Good, Darrel L.; Dietz, Sarah N.. |
| While the risk premium hypothesis in futures markets has been the subject of a long and continuous controversy, the risk premium hypothesis in forward markets is also of interest among economists. The hypothesis is supported by some theoretical arguments and empirical evidence yet remains an open question. We in this study apply a two-equation regression model similar to those used in (Fama and French (1987} and de Roon et al. (1998) to analyze the risk premiums in forward markets, particularly, using the pre-harvest wheat forward markets in Illinois (1982-2004) and Kansas (1990-2004) as an example. The two-equation regression model consists of a forecasting equation, which uses a forward basis during a pre-harvest period to forecast the spot basis at the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2005 |
URL: http://purl.umn.edu/19043 |
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