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Changes to the Natural Gas, Corn, and Fertilizer Price Relationships from the Biofuels Era

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  • Beckman, Jayson
  • Richie, Stephanie

Abstract

The biofuels era brought about changes to the energy and agricultural sectors. For example, the decrease in natural gas prices has led to a weakening of the relationship between fertilizer and gas prices. The other change has been an increase in the demand for fertilizers, which has strengthened the price relationship between these two products. Econometric evidence from this work indicates that after 2008 the relationship between fertilizers and corn prices increased. In addition, results from our work indicate the presence of market power in the ammonia fertilizer sector.

Suggested Citation

  • Beckman, Jayson & Richie, Stephanie, 2015. "Changes to the Natural Gas, Corn, and Fertilizer Price Relationships from the Biofuels Era," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 0(Number 4), November.
    • Handle: RePEc:ags:joaaec:349123
    DOI: 10.22004/ag.econ.349123
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    1. Kwiatkowski, Denis & Phillips, Peter C. B. & Schmidt, Peter & Shin, Yongcheol, 1992. "Testing the null hypothesis of stationarity against the alternative of a unit root : How sure are we that economic time series have a unit root?," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 159-178.
    2. Beckman, Jayson F. & Borchers, Allison & Jones, Carol, 2013. "Agriculture's Supply and Demand for Energy and Energy Products," Economic Information Bulletin 149033, United States Department of Agriculture, Economic Research Service.
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    Resource/Energy Economics and Policy;

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