Topeka (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	351	343	346	337	334	326	337	346	347	347	341	323	340
1984	299	282	280	271	274	271	281	286	278	280	272	245	277
1985	225	222	236	240	237	231	232	239	249	247	204	158	227
1986	145	141	157	159	148	142	150	159	172	175	159	147	155
1987	150	158	169	175	182	190	192	194	194	249	284	259	200
1988	265	259	246	253	257	267	267	251	261	254	249	234	255
1989	229	231	233	235	234	236	248	265	274	275	269	256	249
1990	223	216	216	225	232	236	244	251	243	245	247	246	235
1991	246	244	243	249	254	260	268	254	262	265	255	229	252
1992	220	200	202	208	209	209	218	222	220	212	237	238	216
1993	231	244	278	294	302	296	286	271	272	280	235	230	268
1994	219	216	216	222	227	231	241	246	261	277	296	292	245
1995	299	314	332	350	365	385	403	460	484	480	486	456	401
1996	339	286	261	261	259	274	290	286	272	264	248	256	275
1997	249	255	250	249	259	253	252	232	229	225	208	177	236
1998	166	181	197	196	####	####	####	####	####	####	####	####	####
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	103%	101%	102%	99%	98%	96%	99%	102%	102%	102%	100%	95%	100%
1984	108%	102%	101%	98%	99%	98%	102%	103%	101%	101%	98%	89%	100%
1985	99%	98%	104%	106%	105%	102%	102%	105%	110%	109%	90%	70%	100%
1986	94%	91%	101%	103%	96%	92%	97%	103%	111%	113%	103%	95%	100%
1987	75%	79%	84%	88%	91%	95%	96%	97%	97%	125%	142%	130%	100%
1988	104%	102%	96%	99%	101%	104%	105%	98%	102%	99%	98%	92%	100%
1989	92%	93%	94%	94%	94%	95%	100%	107%	110%	110%	108%	103%	100%
1990	95%	92%	92%	95%	98%	100%	104%	107%	103%	104%	105%	104%	100%
1991	98%	97%	96%	99%	101%	103%	106%	101%	104%	105%	101%	91%	100%
1992	102%	92%	93%	96%	97%	97%	101%	102%	102%	98%	110%	110%	100%
1993	86%	91%	104%	110%	113%	110%	107%	101%	101%	104%	88%	86%	100%
1994	89%	88%	88%	90%	92%	94%	98%	100%	107%	113%	121%	119%	100%
1995	74%	78%	83%	87%	91%	96%	100%	115%	121%	120%	121%	114%	100%
1996	124%	104%	95%	95%	94%	100%	105%	104%	99%	96%	90%	93%	100%
1997	105%	108%	106%	105%	109%	107%	107%	98%	97%	95%	88%	75%	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	-9	-4	-4	2	3	-1	-11	-8	-3	-2	32	27	2
1984	12	3	7	1	3	3	5	3	2	3	24	16	7
1985	5	-2	-3	-7	-11	-8	1	8	11	14	26	-2	3
1986	-21	-28	-14	-8	-10	-7	-9	-7	-17	-16	-13	-11	-13
1987	-25	-25	-15	-15	-15	-11	-15	-10	-18	-17	-33	-33	-19
1988	-29	-31	-27	-25	-21	-4	-12	-16	-9	-8	1	5	-15
1989	-2	-7	-5	-5	-6	-7	-6	-8	-11	-11	-1	4	-5
1990	-8	-15	-8	-12	-4	-4	-11	-5	-5	5	11	-1	-5
1991	-6	-6	-2	-3	-3	-4	-6	1	3	8	15	10	1
1992	1	-9	-10	-12	-9	-4	-6	-7	-9	-6	-5	-1	-6
1993	-6	-4	3	-1	0	4	0	3	6	9	12	10	3
1994	-2	0	0	-8	-6	-2	-5	-2	1	4	7	10	0
1995	-3	-8	4	-1	2	8	14	9	5	16	96	92	19
1996	17	1	-7	-4	-6	-7	-11	-14	-7	-3	4	-8	-4
1997	-17	-24	-25	-27	-14	-15	-22	-17	-20	-19	-29	-30	-22
1998	-42	-40	-23	-26	0	0	0	0	0	0	0	0	-11
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%	166		-6	11	6	-17	-42
OCT		94%	8%	103%	86%	181		-10	10	-1	-20	-40
NOV		95%	6%	101%	88%	197		-8	10	2	-18	-23
DEC		97%	6%	103%	91%	196		-10	9	-1	-19	-26
JAN		99%	7%	106%	92%			-7	7	0	-13
FEB		101%	5%	106%	95%			-3	6	2	-9
MAR		103%	3%	106%	100%			-6	9	2	-15
APR		103%	5%	108%	99%			-6	8	2	-14
MAY		105%	6%	111%	98%			-5	8	3	-12
JUN		105%	7%	112%	97%			0	10	9	-10
JUL		103%	12%	115%	91%			11	31	42	-20
AUG		99%	13%	112%	85%			9	30	39	-21