Reexamination of Price Dynamics in the International Wheat Market, A
Samarendu Mohanty, William H. Meyers, Darnell B. Smith
November 1996 [96-WP 171]
Mohanty, S., W.H. Meyers, and D.B. Smith. 1996. "Reexamination of Price Dynamics in the International Wheat Market, A." Working paper 96-WP 171. Center for Agricultural and Rural Development, Iowa State University.
The international wheat market has received much attention from researchers because of the perception that noncompetitive elements exist in the market. This study examines price dynamics among the United States, Canada, Australia, the European Union, and Argentina using a cointegration and error correction approach. Unlike some past studies, the results here suggest that there is no distinct price leader in the international wheat market.