Vector autoregressions are used to evaluate dynamic relationships among prices in six important international wheat markets. The effects of freight rates and exchange rates are also considered. The results indicate that Canada is the dominant market, supporting views that Canada is an...

This study investigates nonparametrically the optimizing behavior of a sample of 289 Kansas farms under profit-maximizing and cost-minimizing hypotheses. The results do not support strict adherence to either optimization hypothesis. However, evidence against cost-minimizing behavior seems to be...

The lead-lag relationships present in the regional price discovery process are important indicators of market performance. Differences across markets in the speed of adjustment to evolving information may have implications for pricing efficiency within these markets. This study estimates...