Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic

Page 1 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=1' data-page='1' class='cut-thumb lazyload' alt='Page 1: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/1.jpg' width='140' height='200' /> Delivery Systems Versus Cash Settlement in Corn and

Soybean Futures Contracts

by

Nabil M. Chaherli and Robert J. Hauser

Suggested citation format:

Chaherli, N. M., and R. J. Hauser. 1994. “Delivery Systems Versus Cash Settlement in Corn and Soybean Futures Contracts.” Proceedings of the NCR-134 Conference on Applied Commodity Price Analysis, Forecasting,and Market Risk Management. Chicago, IL. [http://www.farmdoc.uiuc.edu/nccc134].

Page 2 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=2' data-page='2' class='cut-thumb lazyload' alt='Page 2: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/2.jpg' width='140' height='200' /> Page 3 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=3' data-page='3' class='cut-thumb lazyload' alt='Page 3: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/3.jpg' width='140' height='200' /> Page 4 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=4' data-page='4' class='cut-thumb lazyload' alt='Page 4: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/4.jpg' width='140' height='200' /> Page 5 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=5' data-page='5' class='cut-thumb lazyload' alt='Page 5: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/5.jpg' width='140' height='200' /> Page 6 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=6' data-page='6' class='cut-thumb lazyload' alt='Page 6: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/6.jpg' width='140' height='200' /> Page 7 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=7' data-page='7' class='cut-thumb lazyload' alt='Page 7: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/7.jpg' width='140' height='200' /> Page 8 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=8' data-page='8' class='cut-thumb lazyload' alt='Page 8: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/8.jpg' width='140' height='200' /> Page 9 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=9' data-page='9' class='cut-thumb lazyload' alt='Page 9: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/9.jpg' width='140' height='200' /> Page 10 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=10' data-page='10' class='cut-thumb lazyload' alt='Page 10: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/10.jpg' width='140' height='200' /> Page 11 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=11' data-page='11' class='cut-thumb lazyload' alt='Page 11: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/11.jpg' width='140' height='200' /> Page 12 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=12' data-page='12' class='cut-thumb lazyload' alt='Page 12: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/12.jpg' width='140' height='200' /> Page 13 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=13' data-page='13' class='cut-thumb lazyload' alt='Page 13: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/13.jpg' width='140' height='200' /> Page 14 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=14' data-page='14' class='cut-thumb lazyload' alt='Page 14: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/14.jpg' width='140' height='200' /> Page 15 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=15' data-page='15' class='cut-thumb lazyload' alt='Page 15: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/15.jpg' width='140' height='200' /> Page 16 <img data-url='document/delivery-systems-versus-cash-settlement-in-corn-and-delivery-systems-versus.html?page=16' data-page='16' class='cut-thumb lazyload' alt='Page 16: Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader035.cupdf.com/reader035/viewer/2022062919/5ee2f4e9ad6a402d666d2045/html5/thumbnails/16.jpg' width='140' height='200' />

Delivery Systems Versus Cash Settlement in Corn and ... · DELIVERY SYSTEMS VERSUS CASH SETTLEMENT CORN AND SOYBEAN FUTURES CONTRACTS Nabil M. Chaherli and Robert J. Hauser. The economic

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