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The Expansion of the Brazilian Winter Corn Crop and Its Impact on Price Transmission

1
Department of Agricultural Economics, University of Nebraska-Lincoln, Lincoln, NE 68583-0922, USA
2
Institute of Economics, University of Campinas, Campinas, SP 13083-857, Brazil
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Author to whom correspondence should be addressed.
Int. J. Financial Stud. 2018, 6(2), 45; https://doi.org/10.3390/ijfs6020045
Received: 22 December 2017 / Revised: 5 April 2018 / Accepted: 18 April 2018 / Published: 23 April 2018
The purpose of this study is to analyze the impact of the growth of the Brazilian winter corn crop on the dynamics between domestic Brazilian prices and international prices as well as spot and futures prices in Brazil. Econometric time-series methods tests were applied using Brazilian spot and futures prices and U.S. futures prices. The statistical analysis found evidence that a long-run relationship between Brazilian and U.S. prices had developed, and the Brazilian futures market developed a more dominant role in the relationship between spot and futures prices domestically. These findings were particularly noticeable after 2002, when expanding corn production in Brazil was leading to greater participation in the international market (exports) and increasing trading in the Brazilian futures market. View Full-Text
Keywords: corn prices; market integration; Brazil corn prices; market integration; Brazil
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MDPI and ACS Style

Mattos, F.L.; Franco da Silveira, R.L. The Expansion of the Brazilian Winter Corn Crop and Its Impact on Price Transmission. Int. J. Financial Stud. 2018, 6, 45. https://doi.org/10.3390/ijfs6020045

AMA Style

Mattos FL, Franco da Silveira RL. The Expansion of the Brazilian Winter Corn Crop and Its Impact on Price Transmission. International Journal of Financial Studies. 2018; 6(2):45. https://doi.org/10.3390/ijfs6020045

Chicago/Turabian Style

Mattos, Fabio L., and Rodrigo L. Franco da Silveira. 2018. "The Expansion of the Brazilian Winter Corn Crop and Its Impact on Price Transmission" International Journal of Financial Studies 6, no. 2: 45. https://doi.org/10.3390/ijfs6020045

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