Price Dynamics in the North American Wheat Market

Jungho Baek and Won W. Koo

No 19353, 2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This study examines price dynamics in the U.S. and Canadian hard red spring (HRS) and durum wheat markets. Using monthly prices for 1979-2002, we adopt Johansen cointegration tests and a vector error-correction (VEC) model. The results show that U.S. hard red winter (HRW) and Canadian HRS are exogenous in the model consisting of U.S. HRW and HRS and Canadian HRS prices. Canadian durum is exogenous in the model of U.S. and Canadian durum prices. Therefore, the results suggest that the HRW exporting industry and Canada have been the price leader in North American wheat markets.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 26
Date: 2005
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Journal Article: Price Dynamics in the North American Wheat Market (2006)
Journal Article: Price Dynamics in the North American Wheat Market (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea05:19353

DOI: 10.22004/ag.econ.19353

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