Inventory shocks and the oil–ethanol–grain price nexus

Michael Plante and Navi Dhaliwal

Economics Letters, 2017, vol. 156, issue C, 58-60

Abstract: We analyze the effects of oil and grain inventory data releases on oil, ethanol, corn and soy futures prices. Oil and grain inventory shocks are identified as the percent difference between actual inventory levels and median predictions from a survey of forecasters. Ethanol futures prices alone are found to respond to both oil and grain inventory shocks. Other energy futures prices respond only to oil inventory shocks, while agricultural commodity futures prices respond only to grain inventory shocks.

Keywords: Oil price; Grain price; Ethanol; Inventory shock; EIA; USDA (search for similar items in EconPapers)
JEL-codes: G13 G14 Q02 Q11 Q41 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176517301404
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:156:y:2017:i:c:p:58-60

DOI: 10.1016/j.econlet.2017.03.036

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().