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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. 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.
    2. 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.
    3. 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).

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