Price Dynamics in the North American Wheat Market

Perron's test, Johansen cointegration analysis, and a vector error-correction (VEC) model are used to identify structural change, as well as to examine price dynamics in the U.S. and Canadian hard red spring (HRS) and durum wheat markets. It is found that, due to the U.S. Export Enhancement Program (EEP), price instability experienced in June 1986 has resulted in structural changes for Canadian HRS and durum prices. We also find that Canadian prices have significant effects on the determination of the U.S. prices in the North American wheat market.


Issue Date:
2006-10
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/10217
Published in:
Agricultural and Resource Economics Review, Volume 35, Number 2
Page range:
265-275
Total Pages:
11




 Record created 2017-04-01, last modified 2017-08-23

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