Options on agricultural futures are popular financial instruments used for agricultural price risk management and to speculate on future price movements. Poor performance of Black’s classical option pricing model has stimulated many researchers to introduce pricing models that are more...

This paper examines the relationship between #11 sugar futures prices traded in New York and the world cash prices for exported sugar. It was found that the futures market for sugar leads the cash market in price discovery. However, we fail to find evidence that changes in the cash price causes...

The objective of this study is to provide an empirical evaluation of the expected relationship between cash and futures prices for fluid milk. This is done using historic cash prices from 1988 to 1995, and making inferences about how futures prices would have behaved if they had traded during...

Replaced with revised version of paper 02/10/10.

Pricing function using world sugar futures (WSF) has received limited research interest. Findings indicate that WSF and cash prices for the Dominican Republic appears cointegrated with changing relationships. Previous work suggests that futures markets price the cheapest quality of commodities...

The contentious 2002 Farm Bill has been described by many as the most politicized farm legislation in recent history. Many lawmakers concluded that the 1996 Farm Bill was based on flawed assumptions and that U.S. farmers needed a more dependable safety net. Hence, their support for the 2002 Farm...