Multiproduct Hedging: Theory, Estimation, and an Application

Paul Fackler () and Kevin P. McNew

Review of Agricultural Economics, 1993, vol. 15, issue 3, 521-535

Abstract: Theoretical and empirical approaches to multiple product commodity hedging are discussed, clarifying and extending previous results. Tests of hypotheses concerning optimal hedging effectiveness are discussed. Empirical estimates of optimal hedges for central Illinois soybean processors are computed. Multiproduct optimal hedge positions provide significant risk reductions relative to simpler approaches.

Date: 1993
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