Commodity price co-movements significantly impact investment decisions. High correlations constrain portfolio diversification and limit risk mitigation potential. While international markets often exhibit strong price linkages, understanding national-level dynamics is crucial for effective...

This paper assesses the impact of the Black Sea Grain Initiative on the grain futures market. We rely on counterfactual evaluation techniques and detailed futures price series to estimate how corn and wheat futures prices and historical volatility responded to the Grain Deal enforcement,...

The primary use of futures is hedging risk. Traders in the spot market can hedge certain risks through the futures market. With the development of the futures market, the arbitrage transactions around futures have attracted increasingly attention. The aim of this paper is to establish an...