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Linkage relationship between China and US futures market during trade friction: the case of soybean, soybean oil and soybean meal

Author

Listed:
  • Jialin Guo
  • Desheng Wu
  • Kaiming Zhang
  • Cuicui Luo

Abstract

Bean futures are an essential part of the futures market, and changes in the trading environment will influence their cross-boundary relationship. This paper examines the linkage relationship between soybean, soybean oil, and soybean meal futures in China and the United States under the influence of trade frictions based on the Error Correction model, which considers the long-term co-integration relationship and short-term price fluctuations. The findings indicate that before 2018, China and the United States had a two-way impact on soybean and soybean meal futures prices. While after 2018, China’s soybean futures prices are unilaterally affected by the US market. Sino-US trade friction has increased the independence of China’s soybean oil and soybean meal futures prices but left China’s soybean futures prices in a passive position.

Suggested Citation

  • Jialin Guo & Desheng Wu & Kaiming Zhang & Cuicui Luo, 2023. "Linkage relationship between China and US futures market during trade friction: the case of soybean, soybean oil and soybean meal," Applied Economics Letters, Taylor & Francis Journals, vol. 30(18), pages 2647-2651, October.
    • Handle: RePEc:taf:apeclt:v:30:y:2023:i:18:p:2647-2651
    DOI: 10.1080/13504851.2022.2103073
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