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An Evaluation Of Pricing Performance And Hedging Effectiveness Of The Barley Futures Market


  • Carter, Colin A.


This paper investigates the pricing efficiency and hedging effectiveness of the Winnipeg barley futures market, using the Chicago corn futures market as a norm. Several tests of pricing efficiency were conducted and the stability of the basis was studied. The barley futures market operates in a heavily regulated economic environment and this is shown to impact on both price behavior and hedging opportunities.

Suggested Citation

  • Carter, Colin A., 1984. "An Evaluation Of Pricing Performance And Hedging Effectiveness Of The Barley Futures Market," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(01), July.
  • Handle: RePEc:ags:wjagec:32364

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    References listed on IDEAS

    1. Carter, Colin A & Rausser, Gordon C & Schmitz, Andrew, 1983. "Efficient Asset Portfolios and the Theory of Normal Backwardation," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 319-331, April.
    2. Danthine, Jean-Pierre, 1977. "Martingale, market efficiency and commodity prices," European Economic Review, Elsevier, vol. 10(1), pages 1-17.
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    Cited by:

    1. Meilke, Karl D. & Coleman, Jonathan R., 1986. "An Evaluation of the Influence of Exchange Rates on the Canadian Red Meat Sector," Working Papers 156229, University of Guelph, Department of Food, Agricultural and Resource Economics.
    2. Revoredo-Giha, Cesar & Zuppiroli, Marco, 0. "Commodity futures markets: are they an effective price risk management tool for the European wheat supply chain?," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), issue 3.
    3. Buccola, Steven T., 1989. "Pricing Efficiency In Agricultural Markets: Issues, Methods, And Results," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(01), July.

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    Crop Production/Industries; Marketing;


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