Investigating the Divergence in Wheat Prices

Carlos Arnade and Gary Vocke

No 149694, 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. from Agricultural and Applied Economics Association

Abstract: This study investigates whether importers of U.S. wheat form an integrated market or a series of segmented markets. Two market integration tests are applied: one based on equilibrium price relationships and one based on disequilibrium price relationships. With the exception of a few importers, both tests tend to agree. This study also seeks to explain the reasons for the wide divergence in prices paid by importers of U.S. wheat. We find that factors such as the class of wheat which is purchased and the size of annual purchases influence pricing. We also find that there continues to be large persistence difference in the prices paid by importers.

Keywords: Demand and Price Analysis; International Relations/Trade; Marketing (search for similar items in EconPapers)
Pages: 29
Date: 2013-08-05
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Working Paper: Investigating the Divergence in Wheat Prices (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea13:149694

DOI: 10.22004/ag.econ.149694

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