Grain Futures Contracts: An Economic Appraisal

This book is an independent scholarly analysis of the economics of the grain futures contracts: of the Chicago Board of Trade (CBT), special attention being paid to the recent performance and future prospects of a crucial aspect of grain futures contracts the delivery process. Delivery links futures and spots markets, and is essential to the efficient performance of a grain futures contract. Both hedging effectiveness and the "informativeness" of futures prices depend upon this linkage.