Brazilian coffee farmers use future markets in a very restricted way, which does not follow the high optimal hedge ratio observed in minimum variance models. Reasons for the low use are associated to producers and their business characteristics, their preferences about risk management tool and...

This paper analyzed the impact of including commodity futures (arabica coffee, soybean, corn, crystal sugar, ethanol and fed cattle), negotiated at Securities, Commodity and Futures Exchange (BM&FBovespa), in the performance of a diversified portfolio, composed by stocks, bonds, gold and dollar,...