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Exchange Rate Uncertainty and the Demand for U.S. Soybeans

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  • Margot Anderson
  • Philip Garcia

Abstract

This study examines the effects of exchange rate uncertainty on bilateral soybean trade flows and finds that imports for Japan, France, and Spain are sensitive to short-term variations in nominal bilateral exchange rates. This research extends previous work by focusing on bilateral trade for a single commodity, using a longer sample period, and testing over a variety of model specifications. The results suggest that the effects vary across countries depending on access to forward markets, the availability of alternative soybean suppliers, the degree of market concentration in the domestic soybean processing sector, and the degree of currency risk importers are willing to assume.

Suggested Citation

  • Margot Anderson & Philip Garcia, 1989. "Exchange Rate Uncertainty and the Demand for U.S. Soybeans," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(3), pages 721-729.
    • Handle: RePEc:oup:ajagec:v:71:y:1989:i:3:p:721-729.
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    File URL: http://hdl.handle.net/10.2307/1242028
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    Citations

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    Cited by:

    1. Lence, Sergio Horacio, 1991. "Dynamic firm behavior under uncertainty," ISU General Staff Papers 1991010108000010656, Iowa State University, Department of Economics.
    2. Wenting Wang & Longbao Wei, 2021. "Impacts of agricultural price support policy on price variability and welfare: Evidence from China's soybean market," Agricultural Economics, International Association of Agricultural Economists, vol. 52(1), pages 3-17, January.
    3. Hong, Chang & Liefert, William M. & Wang, Sun Ling, 2017. "Exchange Rates, Income Growth, and Chinese Agricultural Imports," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258447, Agricultural and Applied Economics Association.
    4. Jin, Y. & Jin, S., 2018. "The Heterogeneous Impact of Exchange Rate Volatility on Agricultural Export: Evidence from Chinese Food Firm-level Data," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277197, International Association of Agricultural Economists.
    5. X. L. Wu, 1992. "A Comparison Of Tobit And Ols Estimates Of Japanese Peanut Import Demand," Journal of Agricultural Economics, Wiley Blackwell, vol. 43(1), pages 38-42, January.
    6. Bouoiyour, Jamal & Selmi, Refk, 2015. "A synthesis of the effects of exchange rate uncertainty on international trade via Meta-Regression analysis," MPRA Paper 65737, University Library of Munich, Germany.
    7. Salamat Ali, 2017. "Exchange Rate Effects on Agricultural Exports: Firm-level Evidence from Pakistan," Discussion Papers 2017-09, University of Nottingham, GEP.
    8. Páll, Zsombor, 2015. "Three essays on the Russian wheat export," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 80, number 80, September.
    9. Andrew Muhammad, 2015. "Price Risk and Exporter Competition in China's Soybean Market," Agribusiness, John Wiley & Sons, Ltd., vol. 31(2), pages 188-197, April.
    10. Bouoiyour, Jamal & Selmi, Refk, 2014. "How Does Exchange Rate Uncertainty interact with International Trade? A Meta-Analysis Revisited," MPRA Paper 56201, University Library of Munich, Germany.

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