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	Provedor de dados AgEcon (5) Autor Kunda, Eugene L. (5) Garcia, Philip (2) Adjemian, Michael K. (1) Frank, Julieta (1) Gomez, Miguel I. (1) Good, Darrel L. (1) Irwin, Scott H. (1) Kuethe, Todd H. (1) McKenzie, Andrew M. (1) Thompson, Sarahelen R. (1) Mais... Palavra-chave Agricultural Finance (3) Risk and Uncertainty (3) Agribusiness (2) Crop Production/Industries (2) Q14 (2) Arbitrage (1) Basis behavior (1) Cash settlement (1) Convergence (1) D21 (1) Elevator (1) Ex-ante basis risk (1) Financial Economics (1) G11 (1) G13 (1) G32 (1) Hedging (1) Lean hogs futures contract (1) Margin (1) Portfolio Theory (1) Mais... Tipo do documento Conference Paper or Presentation (3) Journal Article (2) Ano 2010 (1) 2009 (1) 2008 (2) 2000 (1) País United States (5) Idioma Inglês (5)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 5 Primeira ... 1 ... Última Cash Settlement of Lean Hog Futures Contracts Reexamined AgEcon Frank, Julieta; Gomez, Miguel I.; Kunda, Eugene L.; Garcia, Philip. In 1997 the Chicago Mercantile Exchange replaced its live hog futures contract with a cash settlement mechanism based on a Lean Hog Index. Although cash settlement was expected to increase the use of the contract as a hedging tool, producers and packers are concerned that convergence between cash and futures prices is not occurring and that the volatility of the lean hog contract basis has increased in recent years. The purpose of the paper is to reexamine cash settlement of lean hog futures contracts as a hedging tool, focusing on basis behavior and management of basis risk. We also investigate alternative hedging instruments that take into account location differences between regional cash prices and the CME lean hog index. Our results indicate that... Tipo: Conference Paper or Presentation Palavras-chave: Basis behavior; Cash settlement; Ex-ante basis risk; Lean hogs futures contract; Regional basis; Agricultural Finance. Ano: 2008 URL: http://purl.umn.edu/37611 The Inconvenience Cost: A Portfolio Approach to Non-Convergence Between Cash and Futures Prices AgEcon Adjemian, Michael K.; Kuethe, Todd H.; Kunda, Eugene L.. Cash and futures prices should reach equality, or converge, upon contract maturity. Traders can impose convergence during the delivery month through arbitrage behavior: either making or taking delivery on futures contracts. If convergence is not predictable, a futures market fails to provide a clear storage signal to potential inventory holders and reduces the attractiveness of hedging. Recent convergence problems in domestic commodity markets demonstrate the existence of persistent, significant arbitrage opportunities over the second half of the last decade. Yet, terminal elevator operators—perhaps the only participants with the capacity to do so—have not arbitraged away these riskless returns by making enough deliveries. This model demonstrates... Tipo: Conference Paper or Presentation Palavras-chave: Convergence; Arbitrage; Portfolio Theory; Storage; Agricultural Finance; Financial Economics; Risk and Uncertainty; G11; D21; Q14. Ano: 2010 URL: http://purl.umn.edu/61040 THE ROLE OF ORGANIZED EXCHANGES AND STANDARDIZED CONTRACTS IN MARKETING NEW COMMODITIES AgEcon Thompson, Sarahelen R.; Kunda, Eugene L.. Tipo: Conference Paper or Presentation Palavras-chave: Agribusiness. Ano: 2000 URL: http://purl.umn.edu/19575 Recent Convergence Performance of CBOT Corn, Soybean, and Wheat Futures Contracts AgEcon Irwin, Scott H.; Garcia, Philip; Good, Darrel L.; Kunda, Eugene L.. Tipo: Journal Article Palavras-chave: Crop Production/Industries; Risk and Uncertainty; Q11; Q13. Ano: 2008 URL: http://purl.umn.edu/94645 Managing Price Risk in Volatile Grain Markets, Issues and Potential Solutions AgEcon McKenzie, Andrew M.; Kunda, Eugene L.. During 2008 extreme price volatility in grain markets led to country elevators incurring unprecedentedly large margin calls on their futures hedges. As a result elevators’ traditional liquidity sources and lines of credit were stretched to breaking point. This article explores the potential liquidity benefits of making available an Over-the-Counter Margin Credit Swap contract to grain hedgers. The swap would enable hedgers to draw upon sources of capital outside the farm credit system to provide liquidity needed to make margin calls. Simulation results clearly show that a Margin Credit Swap contract would provide significant liquidity benefits to hedgers during volatile periods. Tipo: Journal Article Palavras-chave: Elevator; Hedging; Margin; Swap; Agribusiness; Agricultural Finance; Crop Production/Industries; Risk and Uncertainty; G32; G13; Q14. Ano: 2009 URL: http://purl.umn.edu/53081 Registros recuperados: 5 Primeira ... 1 ... Última

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