The Web sites of the major commodities exchanges provide futures prices. Calculate and plot (as in Figure 26.2 in textbook) the annualized net convenience yield for a commodity of your choice. (Note: You may need to use the futures price of a contract that is about to mature as your estimate of the current spot price.) Explain your calculations and cite your sources.

Annualized net convenience yield, % Source: www.quandl.com. FIGURE 26.2 Annualized percentage net convenience yield (convenience yield less storage costs) for crude oil. MW March-83+ March-84 March-85 March-86 March-87 March-88- March-89 March-90 March-91 March-92 March-93 March-94 March-95 - March-96 March-97 March-98 March-99 - March-00 - March-01 March-02 March-03 March-04 - March-05 - March-06 March-07 March-08 March-09 March-10 March-11 March-12 March-13 Mach-14 - When he way, M M (Reference Figure 26.2) current spot price.) may need to use the futures price of a contract that is about to mature as your estimate of the in Figure 26.2) the annualized net convenience yield for a commodity of your choice. (Note: You The websites of the major commodities exchanges provide futures prices. Calculate and plot (as Annualized net convenience yield, % Source: www.quandl.com. FIGURE 26.2 Annualized percentage net convenience yield (convenience yield less storage costs) for crude oil. MW March-83+ March-84 March-85 March-86 March-87 March-88- March-89 March-90 March-91 March-92 March-93 March-94 March-95 - March-96 March-97 March-98 March-99 - March-00 - March-01 March-02 March-03 March-04 - March-05 - March-06 March-07 March-08 March-09 March-10 March-11 March-12 March-13 Mach-14 - When he way, M M (Reference Figure 26.2) current spot price.) may need to use the futures price of a contract that is about to mature as your estimate of the in Figure 26.2) the annualized net convenience yield for a commodity of your choice. (Note: You The websites of the major commodities exchanges provide futures prices. Calculate and plot (as