Although agricultural futures markets offer a number of potential benefits to users, the extent of trade involvemen in UK futures markets has been less than in comparable markets in the United States. This does not appear to be due to poorer hedging performance. An investigation into patterns of...

The ability of futures markets to predict subsequent spot prices has been a controversial topic for a number of years. Empirical evidence to date is mixed; for any given market, some studies find evidence of efficiency, others of inefficiency. In part, these apparently conflicting findings reflect...