IDEAS home Printed from https://ideas.repec.org/p/ags/n13414/285811.html

The Competitive Position of the Black Sea Regionin World Wheat Export Markets

Author

Listed:
  • O’Brien, Daniel M.
  • Olson, Frayne

Abstract

Differences in physical quality characteristics among classes or types of wheat are often reflected in global cash wheat prices in general, and in wheat prices and sales involving major Black Sea Region exporters Russia, Ukraine and Kazakhstan in particular. Black Sea Region wheat export markets appear to be somewhat associated with each in other in terms of price dynamics, while still exhibiting important differences. Differences in wheat class quality characteristics and logistical-transportation factors play an important role in determining the competitive, cointegrated nature of world and Black Sea Region wheat market price relationships, along with the dynamics of changing wheat supply-demand balances. Black Sea Region wheat prices display some degree of price interrelatedness for milling quality wheat, but not complete uniformity. Ukraine milling wheat export prices show evidence of being cointegrated with German milling wheat export prices, but less so with with those of Russia. Russian milling wheat export prices appear to be cointegrated with both U.S. hard red winter and soft red winter wheat export prices, but less so with those of the Ukraine. Kazakhstan milling wheat export prices show evidence of being somewhat associated with Russian milling wheat export prices, but not so with those in Ukraine.

Suggested Citation

  • O’Brien, Daniel M. & Olson, Frayne, 2014. "The Competitive Position of the Black Sea Regionin World Wheat Export Markets," 2014 Conference, April 21-22, 2014, St. Louis, Missouri 285811, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    • Handle: RePEc:ags:n13414:285811
    DOI: 10.22004/ag.econ.285811
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/285811/files/OBrien_Olson_NCCC-134_2014.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.285811?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Marsh, Thomas L., 2003. "Elasticities for U.S. Wheat Food Use by Class," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57920, Australian Agricultural and Resource Economics Society.
    2. Mohanty, Samarendu & Peterson, E. Wesley F., 1999. "Estimation Of Demand For Wheat By Classes For The United States And The European Union," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 28(2), pages 1-11, October.
    3. Naanwaab, Cephas B. & Yeboah, Osei-Agyeman, 2012. "The Impact of NAFTA on Agricultural Commodity Trade: A Partial Equilibrium Analysis," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119730, Southern Agricultural Economics Association.
    4. Konandreas, Panos A. & Bushnell, Peter G. & Green, Richard D., 1978. "Estimation Of Export Demand Functions For U.S. Wheat," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 3(01), pages 1-12, July.
    5. Mohanty, Samarendu & Peterson, E. Wesley F. & Smith, Darnell B., 1997. "Estimation of Demand for Wheat by Classes for the United States and the European Union," Hebrew University of Jerusalem Archive 18384, Hebrew University of Jerusalem.
    6. Soltani, Mohammad & Saghaian, Sayed H., 2012. "Export Demand Function Estimation for U.S. Raisins," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119860, Southern Agricultural Economics Association.
    7. M. Faruk Aydin & Ugur Ciplak & Eray M. Yucel, 2004. "Export Supply and Import Demand Models for the Turkish Economy," Working Papers 0409, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    8. Marsh, Thomas L. & Featherstone, Allen M., 2003. "Inverse Demand Relationships For Wheat Food Use By Class," 2003 Annual meeting, July 27-30, Montreal, Canada 22001, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Olson, Frayne & O’Brien, Daniel M., 2013. "Competitive Position and Price Integration of Black Sea Region Wheat," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150338, Agricultural and Applied Economics Association.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. O’Brien, Daniel & Olson, Frayne, 2012. "The Price Responsiveness of U.S. Wheat Export Demand by Class," 2012 Conference, April 16-17, 2012, St. Louis, Missouri 285776, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    2. Dong, Fengxia & Marsh, Thomas L. & Stiegert, Kyle W., 2003. "State Trading Enterprises In A Differentiated Environment: The Case Of Global Malting Barley Markets," Hebrew University of Jerusalem Archive 18334, Hebrew University of Jerusalem.
    3. Zhang, Caiping & Marsh, Thomas L., 2006. "Impacts of Gluten Imports on U.S. Food Wheat Use," 2006 Annual meeting, July 23-26, Long Beach, CA 21283, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Secil Pacaci Elitok & Al Campbell, 2008. "The Balance of Payments as a Constraint on TurkeyÂ’s Growth: 1960-2004," Working Paper Series, Department of Economics, University of Utah 2008_13, University of Utah, Department of Economics.
    5. Cagri Sarikaya, 2004. "Export Dynamics in Turkey," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 4(2), pages 41-64.
    6. Schier, Franziska & Morland, Christian & Dieter, Matthias & Weimar, Holger, 2021. "Estimating supply and demand elasticities of dissolving pulp, lignocellulose-based chemical derivatives and textile fibres in an emerging forest-based bioeconomy," Forest Policy and Economics, Elsevier, vol. 126(C).
    7. Thomas L. Marsh, 2005. "Economic substitution for US wheat food use by class," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(3), pages 283-301, September.
    8. Frahan, Bruno Henry de & Tritten, Christian, 2002. "Differentiated Demand and Supply of Wheat under Alternative European Trade Policies," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24831, European Association of Agricultural Economists.
    9. Liu, Zong-Shin, 1989. "Monetary policy, exchange rate, and effects on US wheat trade and domestic market in an imperfect competition framework," ISU General Staff Papers 1989010108000010216, Iowa State University, Department of Economics.
    10. Saghaian, Yasser & Reed, Michael & Saghaian, Sayed, 2014. "Export Demand Estimation for U.S. Corn and Soybeans to Major Destinations," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162546, Southern Agricultural Economics Association.
    11. Miljkovic, Dragan & Ripplinger, David & Shaik, Saleem, 2016. "Impact of biofuel policies on the use of land and energy in U.S. agriculture," Journal of Policy Modeling, Elsevier, vol. 38(6), pages 1089-1098.
    12. J. Ziolkowska & K. Jechlitschka & D. Kirschke, 2009. "Global implications of national price policies on the wheat market - quantitative assessment of world market effects," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 55(10), pages 475-480.
    13. Ketenci, Natalya & Uz, Idil, 2010. "Trade in services: The elasticity approach for the case of Turkey," MPRA Paper 86596, University Library of Munich, Germany.
    14. Mohanty, Samarendu & Peterson, E. Wesley F., 1999. "Estimation of Demand for Wheat by Classes for the United States and the European Union," Agricultural and Resource Economics Review, Cambridge University Press, vol. 28(2), pages 158-168, October.
    15. Shalaby, Seif & Hassler, James B., 1985. "South American Countries Demand For Wheat Imports And U. S. Market Share: Sets Of Disturbance Related Functions," Staff Papers 140511, University of Nebraska-Lincoln, Department of Agricultural Economics.
    16. Zhu, Manhong & Schmitz, Andrew & Schmtiz, Troy G., "undated". "Why Has not Genetically Modified Wheat Been Commercialized: A Game Theoretical Perspective," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 230796, Southern Agricultural Economics Association.
    17. A. Hakan Kara & Cagri Sarikaya, 2013. "Cyclically Adjusted Current Account Balance," CBT Research Notes in Economics 1318, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    18. Trofimov, Ivan D., 2020. "The J-curve Effect in Agricultural Commodity Trade: An Empirical Study of South East Asian Economies," MPRA Paper 106701, University Library of Munich, Germany.
    19. Gabriela Dobrotă, 2016. "The Influences of the Exchange Rate on the Performance of Romanian Trade," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 471-475, February.
    20. Frahan, Bruno Henry de & Tritten, Christian & Sumner, Daniel A., 2001. "Wheat Differentiation And Response To Policy Reform In The Eu," 2001 Annual meeting, August 5-8, Chicago, IL 20755, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    More about this item

    Keywords

    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:n13414:285811. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: http://www.farmdoc.illinois.edu/nccc134/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.