Corn Futures Market, 1961-62

Commodity Exchange Authority

No 335401, USDA Miscellaneous from United States Department of Agriculture

Abstract: Report Introduction: This report deals primarily with corn futures trading on the Chicago market during the 1961-62 corn marketing season. The utilization of the corn futures market by the grain trade increased greatly following the adoption of the 1961 Feed Grain Program, which was based on legislation enacted by the Congress in March 1961. The effect of the Feed Grain Program on the composition and utilization of the corn futures market has been analyzed. The course of cash and futures prices from the beginning of the 1960-61 corn marketing season to the close of the 1961-62 season has also been studied, with reference to the impact of the program. The study is concerned mostly with the changing commitments of small and large traders in corn futures throughout the 1961-62 season, but also includes an analysis of the market based on a survey of all traders’ positions on the Chicago Board of Trade as of the end of September 1961. The 1961-62 corn marketing season, in which CCC corn sales were large, was featured by the highest level of open contracts in corn futures on record. What was the significance of the high level of open contracts, and what function did the corn futures market serve in the marketing of corn during this period? The analysis in this report deals primarily with these questions.

Keywords: Agricultural and Food Policy; Crop Production/Industries; Demand and Price Analysis; Livestock Production/Industries; Marketing; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 38
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Persistent link: https://EconPapers.repec.org/RePEc:ags:usdami:335401

DOI: 10.22004/ag.econ.335401

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