Whitewater (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	346	336	335	330	328	329	333	338	341	343	339	315	334
1984	301	284	285	285	281	280	280	285	286	285	283	241	281
1985	205	214	218	231	251	240	240	242	251	255	210	164	227
1986	144	147	150	150	145	145	145	149	163	166	169	151	152
1987	150	164	168	170	175	180	185	190	188	226	285	273	196
1988	267	264	261	264	260	253	259	245	####	####	####	####	####
1989	####	####	####	####	235	241	248	258	269	273	275	268	####
1990	211	209	215	215	221	225	245	250	245	245	236	238	230
1991	241	239	236	237	237	253	259	256	256	256	256	230	246
1992	212	201	207	216	220	219	223	225	216	216	230	228	218
1993	225	238	266	286	291	287	281	268	266	275	260	236	265
1994	210	209	221	224	227	230	233	237	247	266	295	294	241
1995	298	313	325	342	356	373	391	454	472	475	445	439	390
1996	326	274	256	259	262	266	281	282	268	264	254	253	270
1997	244	243	241	248	247	244	246	231	223	225	217	181	232
1998	173	180	193	192	####	####	####	####	####	####	####	####	####
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	104%	100%	100%	99%	98%	98%	99%	101%	102%	102%	101%	94%	100%
1984	107%	101%	101%	101%	100%	100%	100%	101%	102%	101%	100%	86%	100%
1985	90%	94%	96%	102%	111%	106%	106%	107%	111%	113%	93%	72%	100%
1986	95%	97%	99%	99%	95%	95%	95%	98%	107%	109%	111%	99%	100%
1987	77%	84%	85%	87%	89%	92%	94%	97%	96%	115%	145%	139%	100%
1988	####	####	####	####	####	####	####	####	####	####	####	####	####
1989	####	####	####	####	####	####	####	####	####	####	####	####	####
1990	92%	91%	94%	94%	96%	98%	107%	109%	107%	107%	103%	103%	100%
1991	98%	97%	96%	96%	96%	103%	105%	104%	104%	104%	104%	93%	100%
1992	97%	92%	95%	99%	101%	100%	102%	104%	99%	99%	106%	105%	100%
1993	85%	90%	100%	108%	110%	108%	106%	101%	100%	104%	98%	89%	100%
1994	87%	87%	92%	93%	94%	95%	97%	98%	103%	110%	122%	122%	100%
1995	76%	80%	83%	88%	91%	96%	100%	116%	121%	122%	114%	113%	100%
1996	120%	101%	95%	96%	97%	98%	104%	104%	99%	98%	94%	94%	100%
1997	105%	104%	104%	107%	106%	105%	106%	99%	96%	97%	93%	78%	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	-13	-10	-15	-5	-4	2	-15	-17	-8	-6	30	19	-4
1984	15	5	12	15	10	12	4	2	9	9	35	12	12
1985	-15	-10	-22	-16	3	1	9	11	14	22	33	3	3
1986	-22	-23	-21	-18	-13	-4	-14	-17	-27	-25	-3	-7	-16
1987	-25	-20	-16	-20	-22	-21	-21	-14	-25	-40	-32	-19	-23
1988	-27	-27	-12	-15	-18	-18	-20	-10	0	0	0	0	-12
1989	0	0	0	0	-4	-2	-7	-16	-16	-13	5	16	-3
1990	-19	-22	-9	-22	-15	-15	-9	-6	-4	4	1	-9	-10
1991	-12	-11	-7	-5	-20	-11	-15	2	-3	-1	17	11	-5
1992	-8	-8	-5	-4	2	6	-2	-3	-13	-3	-12	-11	-5
1993	-13	-10	-9	-8	-10	-6	-5	0	1	4	37	17	0
1994	-10	-6	5	-6	-5	-3	-13	-12	-13	-8	6	13	-4
1995	-4	-9	-3	-10	-7	-4	2	3	-7	11	54	75	8
1996	4	-11	-12	-6	-4	-15	-19	-19	-11	-3	5	-10	-8
1997	-17	-36	-34	-28	-26	-25	-28	-19	-25	-19	-18	-19	-24
1998	-35	-41	-13	-30	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		####	####	####	####	173		-11	9	-2	-19	-35
OCT		####	####	####	####	180		-14	10	-4	-24	-41
NOV		####	####	####	####	193		-9	10	1	-18	-13
DEC		####	####	####	####	192		-10	8	-2	-19	-30
JAN		####	####	####	####			-11	8	-3	-19
FEB		####	####	####	####			-9	9	-1	-18
MAR		####	####	####	####			-12	9	-3	-20
APR		####	####	####	####			-8	8	0	-16
MAY		####	####	####	####			-9	8	-1	-17
JUN		####	####	####	####			-3	8	5	-11
JUL		####	####	####	####			9	20	30	-11
AUG		####	####	####	####			8	25	33	-17