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	Provedor de dados AgEcon (4) Autor Irwin, Scott H. (4) Merrin, Robert P. (4) Sanders, Dwight R. (4) Palavra-chave Agricultural Finance (4) Commitment’s of Traders (4) Commodity futures markets (3) Financial Economics (3) Index funds (3) Agribusiness (1) Farm Management (1) Forecasting (1) Futures markets (1) Research Methods/ Statistical Methods (1) Risk and Uncertainty (1) Mais... Tipo do documento Conference Paper or Presentation (3) Report (1) Ano 2009 (1) 2008 (2) 2007 (1) País United States (4) Idioma Inglês (4)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 4 Primeira ... 1 ... Última The Adequacy of Speculation in Agricultural Futures Markets: Too Much of a Good Thing? AgEcon Sanders, Dwight R.; Irwin, Scott H.; Merrin, Robert P.. The objective of this report is to re-visit the “adequacy of speculation” debate in agricultural futures markets. The Commodity Futures Trading Commission makes available the positions held by index funds and other large traders in their Commitment of Traders reports. The results suggest that after an initial surge from early 2004 through mid-2005, index fund positions have stabilized as a percent of total open interest. Traditional speculative measures do not show any material changes or shifts over the sample period. In most markets, the increase in long speculative positions was equaled or surpassed by an increase in short hedging. So, even after adjusting speculative indices for index fund positions, values are within the historical ranges reported in... Tipo: Report Palavras-chave: Commitment’s of Traders; Index funds; Commodity futures markets; Agricultural Finance; Financial Economics. Ano: 2008 URL: http://purl.umn.edu/37512 A Speculative Bubble in Commodity Futures Prices? Cross-Sectional Evidence AgEcon Sanders, Dwight R.; Irwin, Scott H.; Merrin, Robert P.. Recent accusations against speculators in general and long-only commodity index funds in particular, include: increasing market volatility, distorting historical price relationships, and fueling a rapid increase and decrease in commodity inflation. Some researchers have argued that these market participants—through their impact on market prices—may inadvertently prevented the efficient distribution of food aid to deserving groups. Certainly, this result—if substantiated— would counter the classical argument that speculators make prices more efficient and thus improve the economic efficiency of the agricultural and food marketing system. Given the very important policy implications, it is crucial to develop a more thorough understanding of long-only index... Tipo: Conference Paper or Presentation Palavras-chave: Commitment’s of Traders; Index funds; Commodity futures markets; Agribusiness; Agricultural Finance; Farm Management; Financial Economics; Research Methods/ Statistical Methods; Risk and Uncertainty. Ano: 2009 URL: http://purl.umn.edu/53050 The Adequacy of Speculation in Agricultural Futures Markets:Too Much of a Good Thing? AgEcon Sanders, Dwight R.; Irwin, Scott H.; Merrin, Robert P.. Long-only commodity index funds have been blamed by other futures market participants for inflating commodity prices, increasing market volatility, and distorting historical price relationships. Much of this criticism is leveled without any formal empirical support or even cursory data analyses. The Commodity Futures Trading Commission makes available the positions held by index funds and other large traders in their Commitment’s of Traders report. In this research, we make an initial assessment of the size and activity of index funds in traditional agricultural futures markets. The results suggest that after an initial surge from early 2004 through mid-2005, index fund positions have stabilized as a percent of total open interest. Speculative... Tipo: Conference Paper or Presentation Palavras-chave: Commitment’s of Traders; Index funds; Commodity futures markets; Agricultural Finance. Ano: 2008 URL: http://purl.umn.edu/37615 Smart Money? The Forecasting Ability of CFTC Large Traders AgEcon Sanders, Dwight R.; Irwin, Scott H.; Merrin, Robert P.. The forecasting ability of the Commodity Futures Trading Commission’s Commitment’s of Traders data set is investigated. Bivariate Granger causality tests show very little evidence that traders’ positions are useful in forecasting (leading) market returns. However, there is substantial evidence that traders respond to price changes. In particular, non-commercial traders display a tendency for trend-following. The other trader classifications display mixed styles, perhaps indicating that those trader categories capture a variety of traders. The results generally do not support the use of the Commitment’s of Traders data in predicting market movements. Tipo: Conference Paper or Presentation Palavras-chave: Commitment’s of Traders; Futures markets; Forecasting; Agricultural Finance; Financial Economics. Ano: 2007 URL: http://purl.umn.edu/37556 Registros recuperados: 4 Primeira ... 1 ... Última

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