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RE-CONSIDERING THE NECESSARY CONDITION FOR FUTURES MARKET EFFICIENCY: AN APPLICATION TO DAIRY FUTURES

Sanders, Dwight R.; Manfredo, Mark R. - NCR-134 Conference on Applied Commodity Price Analysis, … - 2004

The traditional necessary condition for futures market inefficiency is the existence of alternative forecasting methods that produce mean squared forecast errors smaller than the futures market. Here, a more exacting requirement for futures market efficiency is proposed-forecast encompassing....

Persistent link: https://www.econbiz.de/10005320351

THE MARKETING PERFORMANCE OF ILLINOIS CORN AND SOYBEAN PRODUCERS

Hagedorn, Lewis A.; Irwin, Scott H.; Good, Darrel L. - NCR-134 Conference on Applied Commodity Price Analysis, … - 2004

Marketing is viewed as an important component of the farm management process, and poor marketing is often cited as a …, and available evidence is too limited to make definitive conclusions about farmer marketing abilities. This paper examines … the actual marketing performance of corn and soybean producers in Illinois. Farmer marketing data is based on the USDA …

Persistent link: https://www.econbiz.de/10005801187

GENERALIZED HEDGE RATIO ESTIMATION WITH AN UNKNOWN MODEL

Dorfman, Jeffrey H.; Sanders, Dwight R. - NCR-134 Conference on Applied Commodity Price Analysis, … - 2004

Myers and Thompson (1989) pioneered the concept of a generalized approach to estimating hedge ratios, pointing out that the model specification could have a large impact on the hedge ratio estimated. While a huge empirical literature exists on estimating hedge ratios, the literature is lacking a...

Persistent link: https://www.econbiz.de/10005460401