Pratt (corn)


RISK MANAGEMENT
CORN *marketing resources* SOYBEAN marketing resources	DISCLAIMER *please read* HOME risk management
Dr. William I. Tierney, Jr. E-mail: wtierney@agecon.ksu.edu Copyright 1998. All rights reserved by author.
Disclaimer: This web page is designed to aid farmers with their marketing and risk management decisions. The risk of loss in trading futures, options, forward contracts, and hedge-to-arrive can be substantial and no warranty is given or implied by the author or any other party. Each farmer must consider whether such marketing strategies are appropriate for his or her situation. This web page does not represent the views of Kansas State University.

MONTHLY AVERAGE CORN PRICE (AVERAGE OF WEDNESDAY PRICES)
(Cents/Bu.)
YEAR	SEP	OCT	NOV	DEC	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	AVG
=	=	=	=	=	=	=	=	=	=	=	=	=	=
1983	328	324	324	321	318	313	318	329	337	344	348	323	327
1984	285	275	280	277	277	275	275	282	283	281	279	255	277
1985	228	228	241	247	244	239	239	243	260	260	228	183	237
1986	150	143	159	166	153	154	158	166	183	185	179	160	163
1987	165	174	175	181	186	194	195	200	203	259	303	286	210
1988	277	274	260	262	258	253	257	249	253	246	242	230	255
1989	219	217	220	226	225	229	235	257	269	277	274	259	242
1990	215	213	215	222	222	227	240	247	247	249	247	236	232
1991	237	234	235	239	245	253	258	252	260	261	247	227	246
1992	220	201	207	214	217	214	221	226	224	215	236	240	220
1993	228	240	271	289	295	288	278	264	265	274	239	230	263
1994	213	209	216	223	225	225	233	241	253	273	294	295	242
1995	307	321	328	351	363	382	396	454	487	478	477	471	401
1996	325	276	257	253	249	260	276	278	270	266	249	262	268
1997	248	247	251	250	251	249	249	234	230	233	223	189	238
1998	169	186	201	198	####	####	####	####	####	####	####	####	####
1999
2000

SEASONAL INDEX (MONTHLY PRICE AS A PERCENT OF SEASON AVERAGE PRICE)

YEAR	SEP	OCT	NOV	DEC	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	AVG
=	=	=	=	=	=	=	=	=	=	=	=	=	=
1983	100%	99%	99%	98%	97%	96%	97%	101%	103%	105%	106%	99%	100%
1984	103%	99%	101%	100%	100%	99%	99%	102%	102%	101%	101%	92%	100%
1985	96%	96%	102%	104%	103%	101%	101%	103%	110%	110%	96%	77%	100%
1986	92%	88%	97%	102%	94%	94%	97%	102%	112%	114%	110%	98%	100%
1987	79%	83%	83%	86%	88%	92%	93%	95%	96%	123%	144%	136%	100%
1988	109%	108%	102%	103%	101%	99%	101%	98%	99%	96%	95%	90%	100%
1989	90%	90%	91%	93%	93%	95%	97%	106%	111%	114%	113%	107%	100%
1990	93%	92%	93%	96%	96%	98%	104%	106%	107%	107%	106%	102%	100%
1991	96%	95%	96%	97%	100%	103%	105%	102%	106%	106%	101%	92%	100%
1992	100%	91%	94%	98%	99%	97%	101%	103%	102%	98%	107%	109%	100%
1993	86%	91%	103%	110%	112%	109%	105%	100%	101%	104%	91%	87%	100%
1994	88%	87%	89%	92%	93%	93%	96%	100%	105%	113%	122%	122%	100%
1995	76%	80%	82%	88%	91%	95%	99%	113%	121%	119%	119%	117%	100%
1996	121%	103%	96%	94%	93%	97%	103%	103%	101%	99%	93%	98%	100%
1997	104%	104%	105%	105%	106%	105%	105%	98%	97%	98%	94%	80%	100%
1998	####	####	####	####									####
1999
2000

MONTHLY AVERAGE NEARBY CORN BASIS (AVERAGE OF WEDNESDAY PRICES)
(Cents/Bu.)
YEAR	SEP	OCT	NOV	DEC	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	AVG
=	=	=	=	=	=	=	=	=	=	=	=	=	=
1983	-32	-22	-26	-14	-13	-13	-30	-25	-12	-4	39	27	-11
1984	-2	-3	7	7	6	7	-1	-1	6	4	31	26	7
1985	8	4	2	0	-4	0	8	11	23	27	50	22	13
1986	-16	-27	-12	-2	-5	5	-2	-1	-7	-6	7	2	-5
1987	-10	-10	-8	-9	-11	-7	-11	-4	-10	-6	-14	-5	-9
1988	-17	-16	-13	-17	-20	-18	-22	-19	-18	-16	-6	1	-15
1989	-12	-22	-18	-14	-15	-14	-19	-16	-16	-8	4	7	-12
1990	-15	-19	-9	-15	-14	-13	-14	-9	-1	8	11	-10	-8
1991	-16	-16	-7	-13	-12	-11	-15	-2	2	4	8	8	-6
1992	0	-8	-5	-6	-1	1	-3	-3	-5	-3	-6	2	-3
1993	-10	-9	-3	-6	-6	-5	-9	-4	-1	3	16	10	-2
1994	-8	-7	0	-7	-7	-8	-13	-8	-8	-1	5	13	-4
1995	5	-1	-1	0	0	5	7	3	9	14	86	106	20
1996	3	-9	-11	-12	-17	-21	-24	-23	-9	-1	5	-1	-10
1997	-18	-32	-19	-26	-22	-19	-25	-16	-18	-11	-15	-18	-20
1998	-39	-35	-19	-24	0	0	0	0	0	0	0	0	-10
1999
2000


		CASH PRICES						NEARBY BASIS
		10 YEAR SEAS. INDEX						10 YEAR SEASONAL
				AVG	AVG					AVG	AVG
			STD	+STD	-STD	THIS			STD	+STD	-STD	THIS
		AVG	DEV	DEV	DEV	YEAR		AVG	DEV	DEV	DEV	YEAR
MONTH		(% of Season Avg. Price)				(c/bu)		(Cents/Bu.)
=		=	=	=	=	=		=	=	=	=	=
SEP		97%	12%	109%	84%	169		-9	8	-1	-17	-39
OCT		94%	8%	102%	86%	186		-14	8	-5	-22	-35
NOV		95%	7%	102%	88%	201		-9	6	-2	-15	-19
DEC		97%	6%	104%	91%	198		-12	7	-5	-18	-24
JAN		98%	6%	105%	92%			-11	7	-4	-18
FEB		99%	5%	104%	94%			-10	8	-2	-18
MAR		102%	3%	105%	98%			-14	10	-4	-23
APR		103%	4%	107%	99%			-10	8	-2	-18
MAY		105%	7%	112%	98%			-7	8	2	-15
JUN		106%	8%	113%	98%			-1	8	7	-10
JUL		104%	11%	115%	93%			11	27	37	-16
AUG		100%	13%	113%	88%			12	33	45	-21