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Price Risk Management and Basis Densities

Risk Management: Educational Material [PDF]

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Site Last Updated:
June 23, 2011








  NC State Grain Marketing Homepage
   Nicholas E. Piggott, Professor and Extension Specialist
   Department of Agricultural and Resource Economics - CALS

North Carolina Corn and Soybean Basis Estimates

Evaluating basis can be thought of as the economics of where and when. Most commonly, we talk about the nearby basis, which is the difference in the current local cash price and the NEARBY futures, the price of the futures contract closest to expiration. The local nearby basis is a random variable whose inherest riskiness can be expressed in the form of a probability density functions (PDF). This page in the tables below provides estimates as well as estimated PDF's of local basis for the months of October and January calculated over the period 1980(1)-2005(5) for 37 grain markets in North Carolina. For a more complete explanation of basis densities and empiracal estimates, please click below:

NC Corn And Soybean Basis Density Fact Sheet

NC Corn Basis Data (Table)

NC Soybean Basis Data (Table)