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Have Farmers and Ranchers Lost Confidence in Futures Markets?
Amosson, Stephen H.; Anderson, David P.; Bevers, Stanley J. - Southern Agricultural Economics Association - SAEA - 2013
Agricultural producers have used futures markets to manage price risk, confident that 1) cash and futures prices move together over time, 2) cash and futures prices converge as the contract approaches expiration, and 3) funds held in margin accounts as a performance bond were secure in...
Persistent link: https://www.econbiz.de/10010880626
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The Development of Index Futures Contracts for Fruits and Vegetables
Manfredo, Mark R.; Libbin, James D. - 1998
, such as commodity futures contracts, to aid in the marketing and management of its price risk. Since the 1980s, financial …
Persistent link: https://www.econbiz.de/10009442640
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Spatial Price Analysis Incorporating Rate of Trade: Methods and Application to United States–China Soybean Trade
Han, Shengfei; Durham, Catherine A. - 2010
A regime-switching model for analysis of market integration has been developed that incorporates rate of trade information. An application of the methods to United States–China soybean trade demonstrates that the extended trade information allows better interpretation of market conditions....
Persistent link: https://www.econbiz.de/10009442648
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THE EFFECTS OF FUTURES TRADING BY LARGE HEDGE FUNDS AND CTAS ON MARKET VOLATILITY
Holt, Bryce R.; Irwin, Scott H. - 2000
This study uses the newly available data from the CFTC to investigate the market impact of futures trading by large hedge funds and CTAs. Regression results show that there is a positive relationship between the trading volume of large hedge funds and CTAs and market volatility. However, a...
Persistent link: https://www.econbiz.de/10009443005
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Establishing the Presence of a Risk Premium in the Cocoa Futures Market: An Econometric Analysis
Armah, Stephen E. - 2008
Previous attempts at identifying and estimating a time-varying risk premium in the cocoa futures market yielded conflicting results. Using a longer series that includes the most recent cash and futures data, the existence of a time-varying risk premium in the cocoa futures market is...
Persistent link: https://www.econbiz.de/10009443197
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Price efficiency and speculative trading in cocoa futures markets
Nardella, Michele - 2007
In recent years a number of market participants called into question the efficiency of the price discoverymechanism in commodity futures markets. They believe that speculators move commodity futures marketsaway from their fundamentals by distorting prices and exacerbating volatility. The smoking...
Persistent link: https://www.econbiz.de/10009445112
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Strategic Interactions, Risks and Coordination Costs in Food Marketing Channels: The Mediating Role of Futures Markets
Kuwornu, John K.M.; Kuiper, W. Erno; Pennings, Joost M.E.; … - 2006
We examine the interaction of marketing channel members and the influence of these interactions on incentives …, coordination costs, and risk allocation strategies in a food marketing channel. For this purpose we specify a three-stage principal …-agent marketing channel model involving producers, wholesalers, retailers and a futures market. We compare the situation with and …
Persistent link: https://www.econbiz.de/10009445153
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Does Futures Price Volatility Differ Across Delivery Horizon?
Karali, Berna; Dorfman, Jeffrey H.; Thurman, Walter N. - 2009
We study the difference in the volatility dynamics of CBOT corn, soybeans, and oatsfutures prices across different delivery horizons via the smoothed Bayesian estimatorof Karali, Dorfman, and Thurman (2010). We show that the futures price volatilitiesin these markets are affected by the...
Persistent link: https://www.econbiz.de/10009446386
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Cotton Futures Dynamics: Structural Change, Index Traders and the Returns to Storage
Power, Gabriel J.; Robinson, John R.C. - 2009
The commodity bull cycle of 2006-2008 and subsequent dramatic price decline have been asource of hardship for traditional commodity market participants such as producers andmerchant/shippers. The usefulness of futures markets has been called into question, especiallygiven that some market...
Persistent link: https://www.econbiz.de/10009446392
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Discussion: Agricultural Commodities and Agribusiness Stocks as Financial Assets
Brorsen, B. Wade - In: Journal of Agricultural and Applied Economics 44 (2012) 03
Nonfarm investors might benefit from diversifying their portfolios by investing in the agricultural sector. Such diversifying investments could include investments in agricultural stocks or long-only futures positions through index funds. The papers in this session investigate the...
Persistent link: https://www.econbiz.de/10010880438