Data/hora: 17/06/2024 04:40:32

Provedor de dados: 	123	
País: 	Brazil	
Título: 	Hedging with futures contracts in the Brazilian soybean complex: : BM&amp;F vs. CBOT	
Autores: 	Silva,Andréia Regina O. da; Aguiar,Danilo R. D.; Lima,João Eustáquio de.	
Data: 	2003-06-01	
Ano: 	2003	
Palavras-chave: 	Cross-hedging; Soybean industry; Hedging effectiveness.	
Resumo: 	This article analyzes the effectiveness of hedging Brazilian soy oil, soy meal, and soybeans in the Chicago Board of Trade (CBOT) and in the Brazilian Commodities and Futures Exchange (BM&amp;F) to reduce the risk of financial loss due to commodity price fluctuations. The econometric results show that a cross-hedging strategy using the BM&amp;F soybean futures contract is an instrument of low effectiveness for managing soy oil and soy meal price risk. Despite low effectiveness, the estimates demonstrate total advantage for soy meal hedging operations using CBOT soy meal futures contracts rather than cross-hedging using BM&amp;F soybean futures contracts. With some exceptions, the results are also more favorable for hedging soy oil with soy oil futures contracts at the CBOT rather than cross hedging with soybeans at the BM&amp;F. Conversely, Brazilian traders hedging soybeans receive more effective risk protection by trading soybean futures contracts at the BM&amp;F than by trading soybean futures contracts at the CBOT.	
Tipo: 	Info:eu-repo/semantics/article	
Idioma: 	Inglês	
Identificador: 	http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0103-20032003000200004	
Editor: 	Sociedade Brasileira de Economia e Sociologia Rural	
Relação: 	10.1590/S0103-20032003000200004	
Formato: 	text/html	
Fonte: 	Revista de Economia e Sociologia Rural  v.41 n.2 2003	
Fonte: 	info:eu-repo/semantics/openAccess