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On Predicting The Price Of Corn, 1963-2002

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  • Schaffer, Harwood D.

Abstract

A rectilinear regression model using the year-ending commercial corn stocks-to-use ratio and a set of dummy variables representing policy changes and weather-related production shocks explains more than 98 percent of the variation in the season average corn price paid to farmers in the 1963-2002 period, excluding 1985 and 1986.

Suggested Citation

  • Schaffer, Harwood D., 2004. "On Predicting The Price Of Corn, 1963-2002," 2004 Annual Meeting, February 14-18, 2004, Tulsa, Oklahoma 34662, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saeaft:34662
    DOI: 10.22004/ag.econ.34662
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    References listed on IDEAS

    as
    1. George A. Akerlof, 2003. "Behavioral Macroeconomics and Macroeconomic Behavior," The American Economist, Sage Publications, vol. 47(1), pages 25-47, March.
    2. Westcott, Paul C. & Hoffman, Linwood A., 1999. "Price Determination for Corn and Wheat: The Role of Market Factors and Government Programs," Technical Bulletins 33581, United States Department of Agriculture, Economic Research Service.
    3. Clifton B. Luttrell, 1973. "The Russian wheat deal-hindsight vs. foresight," Review, Federal Reserve Bank of St. Louis, vol. 55(Oct), pages 2-9.
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