A model of commodity futures contract basis was developed based on Working’s theory of the price of storage. An error-correction model was estimated for the basis for the InterContinental Exchange (ICE) #2 cotton contract maturing in December during 2000-08. The model was also extended to...

Using Rotterdam demand system this study examines the demand relationships among four random-weight (FW) and fixed-weight citrus (RW). Results indicated that FW and RW grapefruit (and FW and RW oranges) are not substitutes; however, RW tangerine is a substitute of FW tangerines. In addition,...

The purpose of this study was to analyze structural changes that took place in the cotton industry in recent years and develop a statistical model that reflects the current drivers of U.S. cotton prices. Legislative changes authorized the U.S. Department of Agriculture to resume publishing...