In 2008, wheat futures prices spiked and then crashed along with prices for other agricultural and nonagricultural commodities. Market observers offered several theories to explain this common movement, or comovement, in prices, and have proposed policies to address the perceived problem of...

The study analyzes the reasons for defining bona fide hedging for regulatory purposes, deficiencies of the current legal definitions, means for sidestepping the need to define hedging, how these means might work in practice, some problems posed thereby, and possible theoretical and practical...

During most of 2005-10, the price of expiring U.S. corn, soybeans, and wheat futures contracts settled much higher than corresponding delivery market cash prices. Because futures contracts at expiration are commonly thought to be equivalent to cash grain, this commodity price non-convergence...