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Potential world trade in a futures contract for shelled edible peanuts

Author

Listed:
  • Bill R. Miller

    (Professor of Agricultural Economics at the University of Georgia)

  • Brian J. Smith

    (Former Graduate Assistant in Agricultural Economics at the University of Georgia)

  • F. W. Williams

    (Professor of Agricultural Economics at the University of Georgia)

Abstract

This study reports the result of a world-wide survey showing favorable interest in a peanut futures contract (20 metric tons). A US exchange was preferred with possible delivery points in Savannah and Rotterdam. Hedging contracts were estimated to be 52,000 contracts annually with speculative contracts estimated to range from a low of 16,000 to as high as 303,000. This was judged to be the minimum volume for a successful contract and would be expected to increase significantly if the US price support program is abandoned. Thirty-seven percent of peanuts handled in the market were under the control of five firms. This level of concentration was noted as a problem by a majority of survey respondents and is considered to be a major factor in contract potential.

Suggested Citation

  • Bill R. Miller & Brian J. Smith & F. W. Williams, 1986. "Potential world trade in a futures contract for shelled edible peanuts," Agribusiness, John Wiley & Sons, Ltd., vol. 2(1), pages 21-32.
    • Handle: RePEc:wly:agribz:v:2:y:1986:i:1:p:21-32
    DOI: 10.1002/1520-6297(198621)2:1<21::AID-AGR2720020103>3.0.CO;2-R
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    References listed on IDEAS

    as
    1. Miller, Bill R., 1983. "Price Support and Supply Management Policy for Peanuts," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 1(1), pages 1-4.
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    Cited by:

    1. Fu, Tsu-Tan & Fletcher, Stanley M. & Carley, Dale H., 1988. "Government Policy Influence On Peanut Producers' Attitudes Towards A Futures Market," 1988 Annual Meeting, August 1-3, Knoxville, Tennessee 270452, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Dubman, Robert W., 1988. "Establishing Peanut Purchasing Contract Terms With Uncertain Market Prices And Input Supplies," Journal of Food Distribution Research, Food Distribution Research Society, vol. 19(1), pages 1-14, February.
    3. Blank, Steven C., 1989. "Research On Futures Markets: Issues, Approaches, And Empirical Findings," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(1), pages 1-14, July.

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