Efetividade do hedge de soja em grÃ£o brasileira com contratos futuros de diferentes vencimentos na Chicago Board of Trade
The objective of this paper was to analyze the risk protection provided by the futures contracts traded at CBOT (Chicago Board of Trade) at different delivery months to Brazilian Soybean hedgers. The empirical approach adopted was the estimation of hedging effectiveness between every Brazilian production state and the CBOT futures contracts. The results showed that the contracts for delivery in the second semester are more effective, mainly those for delivery in July and August. Moreover, supply shocks in the U.S. can make even the contracts for delivery in November and January to be very effective because of stronger procurement for Brazilian soybeans. The results also show that hedging effectiveness is larger near export harbors, as they were the cases of CÃ¢ndido Mota (SP), Campo MourÃ£o (PR) and Ponta Grossa (PR).
Volume (Year): 2 (2004)
Issue (Month): 4 ()
|Contact details of provider:|| Postal: Campus Universitário, 36571.000 - Viçosa - MG|
Phone: (031) 899-2215
Fax: (031) 899-2219
Web page: http://www.economia-aplicada.ufv.br/revista/index.php
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ags:rdeeag:56770. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.