This study revisits the debate over whether a bias exists in new crop December corn and November soybeans futures and option prices. Some evidence of bias is found in December corn futures and December corn puts, but the evidence is substantially muted when transaction costs are taken into...

This study examines the long run relationship between 1-day and 3-month futures prices for five metals at the London Metal Exchange (LME) and further investigates the role of interest rates in this relationship. A battery of stationarity tests and cointegration tests are applied to a simple cost...

The objective of this study was to determine the economic impact on the United States of removing tariff barriers on imports of concentrated orange juice and tomato paste from South America. The study highlighted an agglomeration model of industry location recognizing imperfect competition and...

The purpose of this study is to estimate the impact of general inflation on prices paid and received by farmers. Specific objectives are: (1) to test the hypothesis that the farm commodity domestic demand function at the farm level is homogeneous of degree zero in price and income; and (2),...

I have contended for some years that the principal economic problem facing commercial agriculture is instability (Tweeten 1989, p.30). Instability potentially threatens not only farmers' financial viability but also consumers' food security, given the desire for stable food consumption in the...