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Registros recuperados: 19 | |
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Power, Gabriel J.; Vedenov, Dmitry V.. |
Commodity and energy prices have exhibited an unprecedented increase between October 2006 and July 2008, only to fall sharply during the last months of 2008. Many explanations have been offered to this phenomenon, including steadily increasing demand from China and India, large mandated increases in ethanol production, droughts in some key agricultural producer countries, production plateaus in some major oil-producing countries, refinery capacity limits, demand pressure from the derivatives market owing to the diversification properties of commodities, etc. Clearly, agricultural input, output, and energy products are closely related economically. In addition to biofuels, the connection points include nitrogen-based solution liquid fertilizers, fossil... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Commodity prices; Commodity bull cycle; Energy prices; Granger-causality; Graph theory; Structural VAR.; Agribusiness; Agricultural and Food Policy; Agricultural Finance; Demand and Price Analysis; Financial Economics; Research Methods/ Statistical Methods. |
Ano: 2009 |
URL: http://purl.umn.edu/49538 |
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Dorfman, Jeffrey H.; McIntosh, Christopher S.. |
Forecasts of economic time series are often evaluated according to their accuracy as measured by either quantitative precision or qualitative reliability. We argue that consumers purchase forecasts for the potential utility gains from utilizing them, not for their accuracy. Using Monte Carlo techniques to incorporate the temporal heteroskedasticity inherent in asset returns, the expected utility of a set of qualitative forecasts is simulated for corn and soybean futures prices. Monetary values for forecasts of various reliability levels are derived. The method goes beyond statistical forecast evaluation, allowing individuals to incorporate their own utility function and trading system into valuing a set of asset price forecasts. |
Tipo: Journal Article |
Palavras-chave: Commodity prices; Forecast evaluation; Value of information; Consumer/Household Economics. |
Ano: 1997 |
URL: http://purl.umn.edu/15060 |
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Harri, Ardian; Nalley, Lawton Lanier; Hudson, Darren. |
Exchange rates have long been thought to have an important impact on the export and import of goods and services, and, thus, exchange rates are expected to influence the price of those products that are traded. At the same time, energy impacts commodity production in some very important ways. The use of chemical and petroleum derived inputs has increased in agriculture over time; the prices of these critical inputs, then, would be expected to alter supply, and, therefore, the prices of commodities using these inputs. Also, agricultural commodities have been increasingly used to produce energy, thereby leading to an expectation of a linkage between energy and commodity markets. In this paper, we examine the price relationship through time of the primary... |
Tipo: Journal Article |
Palavras-chave: Cointegration; Commodity prices; Crude oil; Exchange rates; Agribusiness; Consumer/Household Economics; International Relations/Trade; Marketing; Production Economics; Resource /Energy Economics and Policy; C32; L71; Q11; Q40. |
Ano: 2009 |
URL: http://purl.umn.edu/53095 |
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Wixson, Sarah E.; Katchova, Ani L.. |
Recent increases in the price of crude oil have led to a rise in the prominence of corn-based ethanol as an alternative source of energy. As a result linkages have been established between commodity and energy prices. The aim of this study is to determine if soybeans, corn, wheat, oil, and ethanol adjust their prices asymmetrically depending on whether their actual price is over or under-predicted with respect to one another. This study’s goal of determining if asymmetric price relationships exist is accomplished by using monthly time series price data incorporated into a distributed lag error correction model distinguishing between positive and negative price difference and positive and negative values of the error correction terms. The primary results... |
Tipo: Presentation |
Palavras-chave: Commodity prices; Energy prices; Price asymmetry; Risk and Uncertainty; Q13. |
Ano: 2012 |
URL: http://purl.umn.edu/122553 |
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Saak, Alexander E.. |
The geographic concentration of production of main field crops in several growing regions is a distinctive feature of U.S. agriculture. Among many possible reasons for spatial concentration, I study here the effects of the distribution of end users and terminal markets on acreage allocation. The presence of multiple terminal markets in a growing area may allow for a more flexible marketing plan, along with introducing more idiosyncratic demand uncertainty associated with each consumption point. To take better advantage of future marketing opportunities, growers, depending on their location relative to terminal markets, may adjust the crop mix produced on the farm. I characterize the types of environments that lead to a spatial production concentration of a... |
Tipo: Working or Discussion Paper |
Palavras-chave: Commodity prices; Location; Marketing; Production concentration; Supermodularity; Systematic risk; Industrial Organization. |
Ano: 2003 |
URL: http://purl.umn.edu/18557 |
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Young, C. Edwin; Kantor, Linda Scott. |
Recent studies show that average diets differ considerably from Food Guide Pyramid recommendations. The gap between current consumption and recommendations is particularly large for caloric sweeteners, fats and oils, fruits, and certain vegetables, notably dark-green leafy and deep-yellow vegetables, and dry beans, peas, and lentils. The change in food consumption needed to meet Food Guide Pyramid serving recommendations will result in adjustments in U.S. agricultural production, trade, nonfood uses, and prices. The net adjustment in crop acreage is projected to be relatively small, about 2 percent of total cropland in 1991-95. However, this small net adjustment masks larger anticipated changes for some sectors, particularly sweeteners, fats and oils, and... |
Tipo: Report |
Palavras-chave: Food; Food consumption; Food Guide Pyramid; Crop production; Commodity prices; Trade; Dietary recommendations; 1996 Farm Act; Food Consumption/Nutrition/Food Safety. |
Ano: 1999 |
URL: http://purl.umn.edu/34071 |
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Kumarappan, Subbu; Gustafson, Cole R.. |
Crude oil price speculation during 2000s could have increased installed capacity in corn ethanol plants beyond what was warranted by the market factors. We use Muth’s commodity pricing model and Flood and Garber’s tests to test for speculative investment in US corn ethanol industry. The ethanol price expectations are derived using a system of supply-demand-inventory describing US ethanol markets under rational expectations (perfect foresight). These price expectations can help differentiate the installed capacity into two: capacity supported by the market fundamentals and the probable capacity that is installed based on speculation. Econometric estimation procedures and functional form approximations are discussed. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Ethanol; Speculation; Commodity prices; Investment; Agricultural Finance; Financial Economics; Q14; Q41; D8; L71. |
Ano: 2010 |
URL: http://purl.umn.edu/61418 |
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Frost, Mark; Parton, Kevin A.. |
The Australian dollar is considered primarily a commodity-based currency. The high level of commodity-based exports in Australia’s trade balance is given as an explanation. Accordingly changes in world commodity prices should bring commensurate changes in the value of the Australian dollar, such that changes in world commodity prices are only partially transmitted to the Australian economy and local farm-gate prices. If this relationship holds, then local farm-gate prices should be significantly less volatile than their respective world price. Variances in local prices would be due to local factors (e.g. variances in local production) rather than variances in the world price and international factors. This paper examines the farm-gate prices of Australia’s... |
Tipo: Article |
Palavras-chave: Farm economics; Farm business management; Agricultural risk management; Commodity prices; Farm Management. |
Ano: 2005 |
URL: http://purl.umn.edu/123139 |
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Saak, Alexander E.. |
In a marketing environment, the demand conditions, the costs of shipping and storing grain varieties, the interest rate on farm loans, and the distribution of cropland in the area are important determinants of growers' planting decisions. In this article, I focus on a market for two quality-differentiated agricultural commodities: one produced with the use of biotechnology and the other, without. I develop a model for analyzing the equilibrium planting and marketing decisions made by geographically dispersed producers during the marketing year following harvest. I identify the types of marketing environments leading to a greater concentration of equilibrium acreage planted to a particular grain variety near the market and investigate the effects of the... |
Tipo: Working or Discussion Paper |
Palavras-chave: Commodity prices; Grain storage; Location; Marketing; Product quality; Supermodularity; Crop Production/Industries. |
Ano: 2003 |
URL: http://purl.umn.edu/18427 |
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Registros recuperados: 19 | |
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