@article{Kastens:285731,
      recid = {285731},
      author = {Kastens, Terry L. and Dhuyvetter, Kevin C.},
      title = {Post-harvest Grain Marketing with Efficient Futures},
      address = {1998-04},
      series = {NCCC-134 Applied Commodity Price Analysis, Forecasting,  and Market Risk Management},
      year = {1998},
      abstract = {This study is a simulation that tests whether Kansas  wheat, corn, milo (grain sorghum), and soybean producers  could have used deferred-futures-plus-historical-basis cash  price expectations to profitably guide post-harvest grain  storage decisions from 1985 through 1997. The signaled  storage decision is compared to a representative Kansas  producer whose crop sales mimic average Kansas marketings.  Twenty-three grain price locations are examined. The  simulation resulted in a 15 cent per bushel annual increase  in grain storage profits for wheat producers, 23 cents for  soybeans, -6 cents for corn, and -8 cents for milo; but  storage profit differences varied substantially across  locations. Inferences for random Kansas cash price  locations were robust to alternative basis expectations,  marketing year starting dates, model starting dates,  interest rates, and storage cost structures.},
      url = {http://ageconsearch.umn.edu/record/285731},
      doi = {https://doi.org/10.22004/ag.econ.285731},
}