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| Author: | Garcia, P. |
| Title: | The value of public information in commodity futures markets |
| Journal: | Journal of Economic Behavior and Organization
1997 : APR, VOL. 32:4, p. 559-570 |
| Index terms: | ECONOMIC BEHAVIOUR COMMODITY FUTURES COMMODITY MARKETS |
| Language: | eng |
| Abstract: | The informational value of U.S. Department of Agriculture (USDA) corn and soybean production forecasts is investigated for the period 1971-1992. Three tests of informational content are applied. Overall, the results suggest USDA corn and soybean forecasts provide valuable information to participants in commodity futures markets. This value does appear to have declined, especially since the mid 1980s. The public provision of commodity market information has a relatively long history in the United States. |
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