Merener, Nicolas - In: Journal of Futures Markets 35 (2015) 1, pp. 1-30
<section xml:id="fut21642-sec-0001"> I investigate how local supply shocks in the globally distributed production of commodities are incorporated into Chicago Mercantile Exchange (CME) futures prices. I exploit that the soybean market share of the United States (Argentina) decreased (increased) between 1996 and 2010, and use rain,...</section>