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Non-Convergence in Domestic Commodity Futures Markets: Causes, Consequences and Remedies

  • by Michael Adjemian, Philip Garcia, Scott Irwin and Aaron Smith
  • 8/5/2013
  • EIB-115

Overview

From 2005-10, the price of expiring U.S. corn, soybean, and wheat futures contracts settled much higher than corresponding delivery market cash prices. Theories about why this unprecedented non-convergence occurred are examined along with policy options to prevent it in the future.

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