On the Relationship of Expected Supply and Demand to Futures Prices

Hans Walter Chua and William G. Tomek

No 121055, Staff Papers from Cornell University, Department of Applied Economics and Management

Abstract: Expectations about future economic conditions are important determinants of commodity prices. This paper presents a relatively simple model that makes futures prices for corn a function of expected production and inventories and of variables that account for demand shifts. The intent is to provide an historical, objective context for new price and quantity observations, which may help market analysts.

Keywords: Demand and Price Analysis; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 16
Date: 2012-02-24
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Persistent link: https://EconPapers.repec.org/RePEc:ags:cudasp:121055

DOI: 10.22004/ag.econ.121055

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