Fig. 1 | Extremes

Fig. 1

From: On agricultural commodities’ extreme price risk

Fig. 1

Futures prices and precipitation in 2012. Note: The upper panel shows prices of futures contracts for delivery at the end of 2012 from Thomson Reuters Datastream. The vertical grey area indicates a period of severe drought. The lower panel shows monthly area-weighted precipitation data for the Primary Corn and Soybean Belt. The bandwidth around the average corresponds to the historical lower and upper quartile. Precipitation data come from the U.S. Climate Divisional Database and are obtained from the National Climatic Data Center of the National Oceanic and Atmospheric Administration

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