The Basis Effects of Failures to Converge

Berna Karali and Kevin McNew

No 285332, 2010 Conference, April 19-20, 2010, St. Louis, Missouri from NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management

Abstract: We study the spatial patterns to wheat basis (spot price minus futures price) for wheat contracts between 2005 and 2009. Restricting our attention to a single delivery market—Toledo, Ohio— and to cash markets within 100 miles of Toledo, we measure the co-movement of basis at inland markets with basis at Toledo. We examine the degree to which that co-movement is disrupted for contracts that failed to converge at delivery time.

Keywords: Marketing (search for similar items in EconPapers)
Date: 2010-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nccc10:285332

DOI: 10.22004/ag.econ.285332

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