Influence of rainfall on wheat and corn yield as a production-related basis risk
2011
Marković Todor | Jovanović Milenko
In this paper the mutual interdependence of rainfall and yield of wheat and corn in Vojvodina in the period from 1975 to 2005 is analysed by applying the regression and correlation analysis. The results show that the amount of rainfall in April and May (wheat) and in the period from April to August (corn) has an important impact on yields height of these crops. If we want to use the weather derivatives, as new financial instruments in wheat and corn production, it is necessary to take this fact into account, since successful application of weather derivatives is based on reduction of the production-related basis risk that arises when there is a weaker correlation between weather parameters and yield of certain crops.
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