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Sustainability
Volume 11
Issue 4
10.3390/su11041010
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Article

Spatial Competition in the Iowa Corn Market: Informing the Pricing Behavior of Corporate and Cooperative Grain Merchants

by
Jasper Grashuis
Division of Applied Social Sciences, University of Missouri, Columbia, MO 65211, USA
Sustainability 2019, 11(4), 1010; https://doi.org/10.3390/su11041010
Submission received: 25 January 2019 / Revised: 6 February 2019 / Accepted: 14 February 2019 / Published: 15 February 2019
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Abstract

We study spatial competition in the agricultural input procurement sector by explaining variability in corn cash price offers from grain merchants in Iowa. While rail access, river access, size, and ethanol production exhibit the expected positive relationships to corn cash prices, the impact of ownership structure (corporate or cooperative) is complex. Taking distance-based and density-based approaches to spatial competition, we find corporate and cooperative grain merchants differ in their pricing behavior when confronted with spatial competitors. Consistent with theoretical expectations, cooperative grain merchants play a yardstick role in relation to both corporate and cooperative grain merchants.
Keywords: spatial competition; agricultural cooperative; imperfect competition; firm behavior spatial competition; agricultural cooperative; imperfect competition; firm behavior

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MDPI and ACS Style

Grashuis, J. Spatial Competition in the Iowa Corn Market: Informing the Pricing Behavior of Corporate and Cooperative Grain Merchants. Sustainability 2019, 11, 1010. https://doi.org/10.3390/su11041010

AMA Style

Grashuis J. Spatial Competition in the Iowa Corn Market: Informing the Pricing Behavior of Corporate and Cooperative Grain Merchants. Sustainability. 2019; 11(4):1010. https://doi.org/10.3390/su11041010

Chicago/Turabian Style

Grashuis, Jasper. 2019. "Spatial Competition in the Iowa Corn Market: Informing the Pricing Behavior of Corporate and Cooperative Grain Merchants" Sustainability 11, no. 4: 1010. https://doi.org/10.3390/su11041010

APA Style

Grashuis, J. (2019). Spatial Competition in the Iowa Corn Market: Informing the Pricing Behavior of Corporate and Cooperative Grain Merchants. Sustainability, 11(4), 1010. https://doi.org/10.3390/su11041010

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