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The Impact Of Brazil And Argentina'S Currency Devaluation On U.S. Soybean Trade

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  • Andino, Jose
  • Mulik, Kranti
  • Koo, Won W.

Abstract

We analyzed the effects of Brazil and Argentina’s currency devaluation on the U.S. soybean import demand in major importing countries. Results indicate that nominal exchange rates between the United States and importers affect the U.S. soybean export market. Additionally, we found evidence that currency depreciations have favored soybean exports from Argentina and Brazil at the cost of reduced exports from the United States. Increased world soybean demand has promoted export sales from major producers, affecting export prices. However, adoption of GM soybeans in the United States has been a determinant in decreased U.S. soybean exports.

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Bibliographic Info

Paper provided by North Dakota State University, Department of Agribusiness and Applied Economics in its series Agribusiness & Applied Economics Report with number 23486.

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Date of creation: 2005
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Handle: RePEc:ags:nddaae:23486

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Keywords: soybeans; exchange rates; third country effect; EC3SLS.; Crop Production/Industries; International Relations/Trade;

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  1. Bessler, David A & Babula, Ronald A, 1987. "Forecasting Wheat Exports: Do Exchange Rates Matter?," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(3), pages 397-406, July.
  2. Keith E. Maskus, 1986. "Exchange rate risk and U.S. trade: a sectoral analysis," Economic Review, Federal Reserve Bank of Kansas City, issue Mar, pages 16-28.
  3. Goldstein, Morris & Khan, Mohsin S., 1985. "Income and price effects in foreign trade," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 20, pages 1041-1105 Elsevier.
  4. O. Cushman, David, 1986. "Has exchange risk depressed international trade? The impact of third-country exchange risk," Journal of International Money and Finance, Elsevier, vol. 5(3), pages 361-379, September.
  5. Chantal Nielsen & Kym Anderson, 2001. "Global market effects of alternative European responses to genetically modified organisms," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 137(2), pages 320-346, June.
  6. Langley, Suchada V. & Guigale, Marcelo & Meyers, William H., 2000. "International Financial Volatility and Agricultural Commodity Trade: A Primer," Staff General Research Papers 5054, Iowa State University, Department of Economics.
  7. Klein, Michael W., 1990. "Sectoral effects of exchange rate volatility on United States exports," Journal of International Money and Finance, Elsevier, vol. 9(3), pages 299-308, September.
  8. Baltagi, Badi H., 1981. "Simultaneous equations with error components," Journal of Econometrics, Elsevier, vol. 17(2), pages 189-200, November.
  9. Cunningham, Carrie J. & Unnevehr, Laurian J., 2000. "Market Segmentation For Genetically Modified Corn And Soybean Exports," Proceedings:Transitions in Agbiotech: Economics of Strategy and Policy, June 24-25, 1999, Washington, D.C. 26020, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
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Cited by:
  1. Chen, Wei & Marchant, Mary A. & Song, Baohui, 2009. "Impacts of China's Food Consumption on U.S. Soybean Exports," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46820, Southern Agricultural Economics Association.

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