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Group 3 / Fort Wayne Spread Drivers

Data: gold/group3_fort_wayne_stocks.parquet

Quarterly average Group 3 minus Fort Wayne basis, in cents per bushel, matched to ending regional corn stocks: Q1 Sep-Nov to December, Q2 Dec-Feb to March, Q3 Mar-May to June, and Q4 Jun-Aug to September. Each tab shows the top three unique regional stock ratios ranked by univariate linear R². The lower charts test whether the applicable corn calendar spread or flat futures price, averaged during the month before the quarter starts, explains each stock model's remaining residual. The 2026 forward curve is excluded from model fitting. Each quote line uses the average of its available bid and offer, overlapping lines are averaged by month, and quarter prices are simple three-month averages. Contract letters are ignored. Current stocks come from the combined regional stocks forecast table normalized to the exportable-supply-constrained corn balance sheet.

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