A Sequential Rationality and Efficiency Test of U.S. Department of Agriculture Program Crop Price Estimates: Rice, Wheat, and Soybeans

Sung Chul No and Michael E. Salassi

No 6814, 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas from Southern Agricultural Economics Association

Abstract: This paper examines the USDA price estimates of rice, wheat, and soybeans and whether spot commodity prices reflect price information embodied in USDA estimates. Results indicate that the monthly USDA estimates are failed to meet a rationality condition. Rice and wheat actual prices marginally incorporate the information embodied in USDA past price estimates.

Keywords: Agricultural and Food Policy; Research Methods/ Statistical Methods; Crop Production/Industries (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr
Date: 2008
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Persistent link: http://EconPapers.repec.org/RePEc:ags:saeaed:6814

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