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Price Dynamics in Agricultural Markets: Relationships between the U.S. and Mexico

David Magaña Lemus and David Bessler (d-bessler@tamu.edu)

No 169736, 88th Annual Conference, April 9-11, 2014, AgroParisTech, Paris, France from Agricultural Economics Society

Abstract: In this paper the dynamic information flows among monthly prices of agricultural commodities in the United States (U.S.) and Mexico for the years 2000-2012 are analysed. Error correction models and directed acyclical graphs are employed with observational data to identify the dynamic relationships among prices for important agricultural commodities in both countries. Unlike previous studies, results here indicate the existence of long-run relationships among prices. Results suggest that commodity prices in the U.S. market are highly influenced by their own historical innovations, while U.S. grain prices have a consistently strong impact on price movements in Mexican agricultural markets in the longrun. Further, information flows among grain markets in Mexico and from grain to cattle markets are also identified and described.

Keywords: Demand and Price Analysis; International Relations/Trade; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 27
Date: 2014-04
New Economics Papers: this item is included in nep-agr
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aesc14:169736

DOI: 10.22004/ag.econ.169736

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