The American Elevator and Grain Trade
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Why Millers Prefer to Hedge at the Kcbot and Grain Elevator Operators at the Cbot
Why millers prefer to hedge at the KCBoT and grain elevator operators at the CBoT Sören Prehn1, Jan-Henning Feil2 1 Leibniz Institute of Agricultural Development in Transition Economies (IAMO), Halle, [email protected] 2 Georg August University Goettingen, Goettingen, [email protected] Contribution presented at the XV EAAE Congress, “Towards Sustainable Agri-food Systems: Balancing Between Markets and Society” August 29th – September 1st, 2017 Parma, Italy Copyright 2017 by Sören Prehn and Jan-Henning Feil. All rights reserved. Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on all such copies. Why millers prefer to hedge at the KCBoT and grain elevator operators at the CBoT Abstract In this paper, we analyze why grain elevator operators tend to hedge hard red winter wheat at the CBoT and not at the KCBoT. They do so because they trade not only the basis but also the premium risk. Like the basis, also premiums of hard red winter wheat have a tendency to increase after harvest. Only a short hedge in the lower priced CBoT wheat contract makes it possible to participate in a post-harvest premium increase. For this reason, grain elevator operators favor a loose hedge at the CBoT. Our results underscore the importance of premium risk for hedging decisions. Keywords: Wheat, hedging, millers, grain elevator operators, Kansas City Board of Trade, Chicago Board of Trade 1 Introduction In his seminal paper “Whose Markets? Evidence on Some Aspects of Futures Trading” (Journal of Marketing, Vol. -
Grain Elevators and Processes
9.9.1 Grain Elevators And Processes 9.9.1.1 Process Description1-14 Grain elevators are facilities at which grains are received, stored, and then distributed for direct use, process manufacturing, or export. They can be classified as either "country" or "terminal" elevators, with terminal elevators further categorized as inland or export types. Operations other than storage, such as cleaning, drying, and blending, often are performed at elevators. The principal grains and oilseeds handled include wheat, corn, oats, rice, soybeans, and sorghum. Country elevators are generally smaller elevators that receive grain by truck directly from farms during the harvest season. These elevators sometimes clean or dry grain before it is transported to terminal elevators or processors. Terminal elevators dry, clean, blend, and store grain before shipment to other terminals or processors, or for export. These elevators may receive grain by truck, rail, or barge, and generally have greater grain handling and storage capacities than do country elevators. Export elevators are terminal elevators that load grain primarily onto ships for export. Regardless of whether the elevator is a country or terminal, there are two basic types of elevator design: traditional and modern. Traditional grain elevators are typically designed so the majority of the grain handling equipment (e.g., conveyors, legs, scales, cleaners) are located inside a building or structure, normally referred to as a headhouse. The traditional elevator often employs belt conveyors with a movable tripper to transfer the grain to storage in concrete or steel silos. The belt and tripper combination is located above the silos in an enclosed structure called the gallery or bin deck. -
Reciprocal Sites Membership Program
2015–2016 Frank Lloyd Wright National Reciprocal Sites Membership Program The Frank Lloyd Wright National Reciprocal Sites Program includes 30 historic sites across the United States. FLWR on your membership card indicates that you enjoy the National Reciprocal sites benefit. Benefits vary from site to site. Please check websites listed in this brochure for detailed information on each site. ALABAMA ARIZONA CALIFORNIA FLORIDA 1 Rosenbaum House 2 Taliesin West 3 Hollyhock House 4 Florida Southern College 601 RIVERVIEW DRIVE 12621 N. FRANK LLOYD WRIGHT BLVD BARNSDALL PARK 750 FRANK LLOYD WRIGHT WAY FLORENCE, AL 35630 SCOTTSDALE, AZ 85261-4430 4800 HOLLYWOOD BLVD LAKELAND, FL 33801 256.718.5050 480.860.2700 LOS ANGELES, CA 90027 863.680.4597 ROSENBAUMHOUSE.COM FRANKLLOYDWRIGHT.ORG 323.644.6269 FLSOUTHERN.EDU/FLW WRIGHTINALABAMA.COM FOR UP-TO-DATE INFORMATION BARNSDALL.ORG FOR UP-TO-DATE INFORMATION FOR UP-TO-DATE INFORMATION TOUR HOURS: 9AM–4PM FOR UP-TO-DATE INFORMATION TOUR HOURS: TOUR HOURS: BOOKSHOP HOURS: 8:30AM–6PM TOUR HOURS: THURS–SUN, 11AM–4PM OPEN ALL YEAR, EXCEPT OPEN ALL YEAR, EXCEPT TOUR TICKETS AVAILABLE AT THE THANKSGIVING, CHRISTMAS AND NEW Experience firsthand Frank Lloyd MAJOR HOLIDAYS. HOLLYHOCK HOUSE VISITOR’S CENTER YEAR’S DAY. 10AM–4PM Wright’s brilliant ability to integrate TUES–SAT, 10AM–4PM IN BARNSDALL PARK. VISITOR CENTER & GIFT SHOP HOURS: SUN, 1PM–4PM indoor and outdoor spaces at Taliesin Hollyhock House is Wright’s first 9:30AM–4:30PM West—Wright’s winter home, school The Rosenbaum House is the only Los Angeles project. Built between and studio from 1937-1959, located Discover the largest collection of Frank Lloyd Wright-designed 1919 and 1923, it represents his on 600 acres of dramatic desert. -
Grain Facilities in the U.S. Specializing in Originating Grain for Export and Soybean Processing Plants
RESEARCH CIRCULAR 241 SEPTEMBER 1978 Grain Facilities in the U.S. Specializing in Originating Grain for Export and Soybean Processing Plants JOHN W. SHARP OHIO AGRICULTURAL RESEARCH AND DEVELOPMENT CENTER U.S. 250 and Ohio 83 South Wooster, Ohio CONTENTS * * * * Acknowledgments . .. .. • . .. • . • . • . • . .. • . 1 Introduction ................................................................ _. 2 Po rt Fa c i 1it i es in the U.S. • •.•..•..........•......•..•.•..•.....•...•·. • 3 Mississippi River Barge Loading Facilities . • • . • . • • . • • . • . • . • • . • • 6 Missouri River Barge Loading Facilities ........•.•.•......•...•.•.....•..•..••. 12 Ohio River Barge Loading Facilities .....•.•....•...•............•.........•••.. 13 Illinois River Barge Loading Facilities ........................................ 14 Arkansas River Barge Loading Facilities •..••...•..•..•..•.•.....•.•••.•.•..••.• 16 White River Barge Loading Facilities ..•........••••••..••.•...•.•.•..••.•...... 16 Black River Barge Loading Facilities ...•.•...•.••••..•••••....•....•••••...•••. 17 Yazoo River Barge Loading Facilities ..•.•••..•.•.•.•...•..•...•.....•••........ 17 Quachita River Barge Loading Facilities •.•.••..•.•••.•.••••...•••..•.....•.•••. 17 Snake and Columbia Rivers Barge Loading Facilities .•••.••••••.•......••...••.•. 18 Unit Train Facilities in Ohio •...••••.........•••••.•.•••.•....•.........•.••.. 20 Unit Train Facilities in Indiana .•.•.......•..••..•.•••...•..•........•.••.••.. 21 Unit Train Facilities in Kentucky ............................................. -
Sir Edmund Walker
SIR EDMUND WALKER C. W. COLBY BORN in 1848, Sir Edmund Walker belonged to the generation which was just coming to manhood when the Dominion of Canada took the place of British North America. As he joined the staff of the Canadian Bank of Commerce less than thirteen months after Confederation, it may be said that his career coincided exactly with the period which has elapsed since Canada undertook to become a nation of the modem world. This fact has more meaning than could be attached to a mere chronological coincidence. It may be associated with the central motive of his life. Starting out at a moment when patriotism was in the air, he became a patriot in the fullest sense. There seems never to have been a time when public spirit did not inspire his aspirations and impel his acts. Through out fifty-six years of incessant effort he continued to plan and give and build for the benefit of Canada. Lord Milner has said that when he thinks of the British Empire he does not feel impelled to wave a flag, but rather to go off by him self in a corner and pray. Sir Edmund Walker's patriotism was of the same character. At least it lacked wholly the flamboyant quality which one associates with fervid rhetoric and boisterous flag-waving. Moreover with him, as with the Benedictine monk. to labour was to pray. He built up a great bank, and had every possible opportunity to secure information, by the most legitimate means, which through thought and planning could be made to yield large personal profits in cash. -
Reconsidering Concrete Atlantis: Buffalo Grain Elevators
Reconsidering Concrete Atlantis: Buffalo Grain Elevators Lynda H. Schneekloth, Editor ISBN: Copyright 2006 The Urban Design Project School of Architecture and Planning University at Buffalo, State University of New York Cover Graphic: Elevator Alley, Buffalo River (Photo by Lynda H. Schneekloth) Reconsidering Concrete Atlantis: Buffalo Grain Elevators Lynda H. Schneekloth, Editor The Urban Design Project School of Architecture and Planning University at Buffalo, State University of New York The Landmark Society of the Niagara Frontier Buffalo, New York 2006 CREDITS The Grain Elevator Project was initiated in 2001 by the Urban Design Project, School of Architecture and Planning, University at Buffalo, SUNY, in collaboration with the Landmark Society of the Niagara Frontier. It was funded in part by the National Endowment for the Arts through the Urban Design Project, and by the New York State Council on the Arts/Preservation League through the Landmark Society of the Niagara Frontier. The Project was managed by Lynda H. Schneekloth from the Urban Design Project, and Jessie Schnell and Thomas Yots of the Landmark Society. Members of the Advisory Committee included: Henry Baxter, Joan Bozer, Clinton Brown, Peter Cammarata, Frank Fantauzzi, Michael Frisch, Chris Gallant, Charles Hendler, David Granville, Arlette Klaric, Francis Kowsky, Richard Lippes, William Steiner, Robert Skerker, and Hadas Steiner. We would like to especially thank Claire Ross, Program Analyst from the NYS Office of Parks, Recreation and Historic Preservation for her assistance. Thanks also to all of those who, through the years, have worked to protect and preserve the grain elevators, including Reyner Banham, Susan McCarthy, Tim Tielman, Lorraine Pierro, Jerry Malloy, Timothy Leary, and Elizabeth Sholes. -
The Rookery Building and Chicago-Kent
Chicago-Kent College of Law Scholarly Commons @ IIT Chicago-Kent College of Law 125th Anniversary Materials 125th Anniversary 2-23-2013 The Rookery Building and Chicago-Kent A. Dan Tarlock Chicago-Kent College of Law, [email protected] Follow this and additional works at: https://scholarship.kentlaw.iit.edu/docs_125 Part of the Legal Commons, Legal Education Commons, and the Legal History Commons Recommended Citation Tarlock, A. Dan, "The Rookery Building and Chicago-Kent" (2013). 125th Anniversary Materials. 12. https://scholarship.kentlaw.iit.edu/docs_125/12 This Article is brought to you for free and open access by the 125th Anniversary at Scholarly Commons @ IIT Chicago-Kent College of Law. It has been accepted for inclusion in 125th Anniversary Materials by an authorized administrator of Scholarly Commons @ IIT Chicago-Kent College of Law. For more information, please contact [email protected], [email protected]. 14 Then & Now: Stories of Law and Progress Rookery Building, Historic American Buildings Survey, Library of Congress. THE ROOKERY BUILDING AND CHICAGO-KENT A. Dan Tarlock hicago-Kent traces its ori- sustain Chicago as a world city, thus gin to the incorporation of making it an attractive and exciting the Chicago College of Law in place to practice law to the benefit C1888. Chicago-Kent’s founding coin- of all law schools in Chicago in- cided with the opening of the Rook- cluding Chicago-Kent. ery Building designed by the preem- The Rookery is now a classic ex- inent architectural firm of Burnham ample of the first school of Chica- and Root. There is a direct connec- go architecture which helped shape tion between the now iconic Rook- modern Chicago and continues to ery Building, located at Adams and make Chicago a special place, de- LaSalle, and the law school building spite decades of desecration of this further west on Adams. -
Defining Architectural Design Excellence Columbus Indiana
Defining Architectural Design Excellence Columbus Indiana 1 Searching for Definitions of Architectural Design Excellence in a Measuring World Defining Architectural Design Excellence 2012 AIA Committee on Design Conference Columbus, Indiana | April 12-15, 2012 “Great architecture is...a triple achievement. It is the solving of a concrete problem. It is the free expression of the architect himself. And it is an inspired and intuitive expression of the client.” J. Irwin Miller “Mediocrity is expensive.” J. Irwin Miller “I won’t try to define architectural design excellence, but I can discuss its value and strategy in Columbus, Indiana.” Will Miller Defining Architectural Design Excellence..............................................Columbus, Indiana 2012 AIA Committee on Design The AIA Committee on Design would like to acknowledge the following sponsors for their generous support of the 2012 AIA COD domestic conference in Columbus, Indiana. DIAMOND PARTNER GOLD PARTNER SILVER PARTNER PATRON DUNLAP & Company, Inc. AIA Indianapolis FORCE DESIGN, Inc. Jim Childress & Ann Thompson FORCE CONSTRUCTION Columbus Indiana Company, Inc. Architectural Archives www.columbusarchives.org REPP & MUNDT, Inc. General Contractors Costello Family Fund to Support the AIAS Chapter at Ball State University TAYLOR BROS. Construction Co., Inc. CSO Architects, Inc. www.csoinc.net Pentzer Printing, Inc. INDIANA UNIVERSITY CENTER for ART + DESIGN 3 Table of Contents Remarks from CONFERENCE SCHEDULE SITE VISITS DOWNTOWN FOOD/DINING Mike Mense, FAIA OPTIONAL TOURS/SITES -
REVISED HAMILTON MUNICIPAL HERITAGE COMMITTEE REPORT 14-009(A) 12:00 P.M
REVISED HAMILTON MUNICIPAL HERITAGE COMMITTEE REPORT 14-009(a) 12:00 p.m. Thursday, August 21, 2014 Council Chambers 71 Main Street West Present: A. Denham-Robinson (Chair), Councillor M. Pearson, M. Adkins, W. Arndt, P. Wilson, W. Furlan, S. Nowak Absent: Councillor B. McHattie – City Business Councillor L. Ferguson – City Business K. Wakeman, W. Rosart, R. Sinclair THE HAMILTON MUNICIPAL HERITAGE COMMITTEE PRESENTS REPORT 14- 009(a) AND RESPECTFULLY RECOMMENDS: 1. Implementation of the Recommendations of the Downtown Built Heritage Inventory Project (PED14191) (a) That the properties listed in Schedule 1 of Appendix “A” attached hereto to the Hamilton Municipal Heritage Committee Report 14-009(a) be included in the Register of Property of Cultural Heritage Value or Interest as non- designated properties; (b) That staff be directed to add the properties listed in Schedule 2 of Appendix “A” attached hereto to the Hamilton Municipal Heritage Committee Report 14-009(a) to the staff’s work program for designation; (c) That Schedule 3 of Appendix “A” attached hereto to the Hamilton Municipal Heritage Committee Report 14-009(a) be approved as amended to include the Candidates for Designation; PLANNING COMMITTEE – September 16, 2014 Hamilton Municipal Heritage Committee August 21, 2014 Report 14-009(a) Page 2 of 2 (d) That staff be directed to prepare a Capital Budget Submission to be brought forward in the 2015 Budget Deliberations to address the work program for designation, as per Schedule 3 of Appendix “A” attached hereto to the Municipal -
Corn Exchange 1891-1892
Berwick Advertiser 1891 Berwick Advertiser 1891 January 23, p. 2, column 5. BERWICK CHORAL UNION. MARITANA. Last night the members of Berwick Choral Union gave their 22nd annual concert in the Corn Exchange, which was filled by a numerous and appreciative audience. The work selected for performance this year was Vincent Wallace’s charming opera “Maritana,” which shares with “Lurline” a large measure of popular favour. The chief features of “Maritana” are its florid orchestration and its fine melodies. The dramatis personae of the opera are Maritana, a handsome gitana, soprano; Lazarillo, mezzo-soprano; Don Caesar de Bazan, tenor; Don Jose de Santarem, baritone; Captain of the Guard, baritone; the King, bass; the Alcade, bass; chorus and soldiers, gipsies and populace. The argument is as follows: Maritana, whilst singing to a crowd of people in a square in Madrid, attracts the admiration of the King of Spain. Don Jose, who is an unscrupulous courtier, observing this, determines to satisfy the King’s whim, and then to betray him to the Queen, with whom he is bold enough to be madly in love. Don Caesar de Bazan, who is an impetuous spendthrift, arrives upon the scene, and in order to protect Lazarillo, who is a poor boy, from arrest, challenges the Captain of the Guard, an action which by a recent edict of the King entails death by hanging. He is arrested and imprisoned, but by Don Jose’s influence his sentence is changed to the more soldier-like death of being shot, on condition that he marries a veiled lady; this he consents to do. -
Private Bankers in Ontario Hayseed Capitalists: Private Bankers in Ontario
HAYSEED CAPITALISTS: PRIVATE BANKERS IN ONTARIO HAYSEED CAPITALISTS: PRIVATE BANKERS IN ONTARIO by STEPHEN EDWARD mORNING, B.A., M.A. A Thesis Submitted to the School of Graduate Studies in Partial Fulfilment of the Requirements for the Degree Doctor of Philosophy McMaster University August, 1994 -- -- --- - --------------- DOCTOR OF PHILOSOPHY (1994) McMASTER UNIVERSITY (History) Hamilton, Ontario TITLE: Hayseed Capitalists: Private Bankers in Ontario AUTHOR: Stephen Edward Thorning, B.A. (University of Guelph) M.A. (McMaster University) SUPERVJSOR: Professor John C. Weaver NUMBER OF PAGES: viii, 502 ii ABSTRACT The structure of the Canadian banking system, and the establishment of strong chartered banks at a relatively early stage, have overshadowed banking institutions that operated outside the chartered system. The non-chartered or private banks can be categorized into three groups: the joint stock banks of the 1830s, the urban private bankers who appeared in the 1850s and after, and the small-town private banks of the post-1868 period. AJI three types of private banks were established to fill perceived niches in the chartered bank system. Those of the 1830s possessed an anti-establishment, hinterland bias. The urban private bankers specialized in savings and foreign exchange transactions, and often branched out into insurance, debentures, and ultimately stocks and bonds. The small town private banks began and prospered when the needs of small hinterland communities outpaced the inclination and ability of chartered banks to provide them with banking facilities. Unlike the urban private bankers, those in small towns offered a full range of banking services, and they often acted as insurance and real estate agencies as well. -
Frank Lloyd Wright
'SBOL-MPZE8SJHIU )JTUPSJD"NFSJDBO #VJMEJOHT4VSWFZ '$#PHL)PVTF $PNQJMFECZ.BSD3PDILJOE Frank Lloyd Wright Historic American Buildings Survey Sample: F. C. Bogk House Compiled by Marc Rochkind Frank Lloyd Wright: Historic American Buildings Survey, Sample Compiled by Marc Rochkind ©2012,2015 by Marc Rochkind. All rights reserved. No part of this book may be transmitted or reproduced in any form or by any means (including electronic) without permission in writing from the copyright holder. Copyright does not apply to HABS materials downloaded from the Library of Congress website, although it does apply to the arrangement and formatting of those materials in this book. For information about other works by Marc Rochkind, including books and apps based on Library of Congress materials, please go to basepath.com. Introduction The Historic American Buildings Survey (HABS) was started in 1933 as one of the New Deal make-work programs, to employ jobless architects, draftspeople, and photographers. Its purpose is to document the nation’s architectural heritage, especially those buildings that are in danger of ruin or deliberate destruction. Today, the HABS is part of the National Park Service and its repository is in the Library of Congress, much of which is available online at loc.gov. Of the tens of thousands HABS buildings, I found 44 Frank Lloyd Wright designs that have been digitized. Each HABS survey includes photographs and/or drawings and/or a report. I’ve included here what the Library of Congress had–sometimes all three, sometimes two of the three, and sometimes just one. There might be a single photo or drawing, or, such as in the case of Florida Southern College (in volume two), over a hundred.