Steinbach, Sandro; Yıldırım, Yasin - In: German journal of agricultural economics : GJAE 73 (2024) 2, pp. 1-22
This paper assesses the impact of the Black Sea Grain Initiative on the grain futures market. We rely on counterfactual … responded to the Grain Deal enforcement, renewals, and termination. Our event study estimates reveal that market participants … anticipated the impact of the Black Sea Grain Initiative. This anticipation is evident from the declining trend in grain futures …