Climate Anomalies and Its Impact on U.S. Corn and Soybean Prices
Author
Abstract
Suggested Citation
DOI: 10.22004/ag.econ.315271
Download full text from publisher
References listed on IDEAS
- Toshichika Iizumi & Jing-Jia Luo & Andrew J. Challinor & Gen Sakurai & Masayuki Yokozawa & Hirofumi Sakuma & Molly E. Brown & Toshio Yamagata, 2014. "Impacts of El Niño Southern Oscillation on the global yields of major crops," Nature Communications, Nature, vol. 5(1), pages 1-7, September.
- Serena Ng & Pierre Perron, 2001.
"LAG Length Selection and the Construction of Unit Root Tests with Good Size and Power,"
Econometrica, Econometric Society, vol. 69(6), pages 1519-1554, November.
- Serena Ng & Pierre Perron, 1997. "Lag Length Selection and the Construction of Unit Root Tests with Good Size and Power," Boston College Working Papers in Economics 369, Boston College Department of Economics, revised 01 Sep 2000.
- Allan D. Brunner, 2002.
"El Niño and World Primary Commodity Prices: Warm Water or Hot Air?,"
The Review of Economics and Statistics, MIT Press, vol. 84(1), pages 176-183, February.
- Allan D. Brunner, 1998. "El Nino and world primary commodity prices: warm water or hot air?," International Finance Discussion Papers 608, Board of Governors of the Federal Reserve System (U.S.).
- Mr. Allan D. Brunner, 2000. "El Nino and World Primary Commodity Prices: Warm Water or Hot Air?," IMF Working Papers 2000/203, International Monetary Fund.
- Jayson Beckman & R. Keeney & W. Tyner, 2011. "Feed demands and coproduct substitution in the biofuel era," Agribusiness, John Wiley & Sons, Ltd., vol. 27(1), pages 1-18, Winter.
- Aiguo Dai, 2013. "Increasing drought under global warming in observations and models," Nature Climate Change, Nature, vol. 3(1), pages 52-58, January.
- Eidman, Vernon R., 2007.
"Economic Parameters for Corn Ethanol and Biodiesel Production,"
Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 39(2), pages 1-12, August.
- Eidman, Vernon R., 2007. "Economic Parameters for Corn Ethanol and Biodiesel Production," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 39(2), pages 345-356, August.
- Eidman, Vernon R., 2007. "Economic Parameters for Corn Ethanol and Biodiesel Production," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34879, Southern Agricultural Economics Association.
- Sun, Yuying & Han, Ai & Hong, Yongmiao & Wang, Shouyang, 2018. "Threshold autoregressive models for interval-valued time series data," Journal of Econometrics, Elsevier, vol. 206(2), pages 414-446.
- Ubilava, David & holt, Matt, 2013.
"El Ni~no southern oscillation and its effects on world vegetable oil prices: assessing asymmetries using smooth transition models,"
Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(2), pages 1-25.
- David Ubilava & Matt Holt, 2013. "El Niño southern oscillation and its effects on world vegetable oil prices: assessing asymmetries using smooth transition models," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(2), pages 273-297, April.
- Ubilava, David & Holt, Matthew T., 2009. "Nonlinearities in the World Vegetable Oil Price System: El Nino Effects," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49360, Agricultural and Applied Economics Association.
- Cashin, Paul & Mohaddes, Kamiar & Raissi, Mehdi, 2017.
"Fair weather or foul? The macroeconomic effects of El Niño,"
Journal of International Economics, Elsevier, vol. 106(C), pages 37-54.
- Paul Cashin & Kamiar Mohaddes & Mehdi Raissi, 2014. "Fair Weather or Foul? The Macroeconomic Effects of El Niño," Cambridge Working Papers in Economics 1418, Faculty of Economics, University of Cambridge.
- Mr. Paul Cashin & Mr. Kamiar Mohaddes & Mr. Mehdi Raissi, 2015. "Fair Weather or Foul? The Macroeconomic Effects of El Niño," IMF Working Papers 2015/089, International Monetary Fund.
- Paul Cashin & Kamiar Mohaddes & Mehdi Raissi, 2015. "Fair weather or foul? the macroeconomic effects of El Niño," Globalization Institute Working Papers 239, Federal Reserve Bank of Dallas.
- Jaroszweski, David & Chapman, Lee & Petts, Judith, 2010. "Assessing the potential impact of climate change on transportation: the need for an interdisciplinary approach," Journal of Transport Geography, Elsevier, vol. 18(2), pages 331-335.
- Chen, Chi-Chung & McCarl, Bruce A., 2000. "The Value Of Enso Information To Agriculture: Consideration Of Event Strength And Trade," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 25(2), pages 1-18, December.
- Jesse Tack & David Ubilava, 2013.
"The effect of El Niño Southern Oscillation on U.S. corn production and downside risk,"
Climatic Change, Springer, vol. 121(4), pages 689-700, December.
- Tack, Jesse B. & Ubilava, David, 2012. "The Effect of the El Nino Southern Oscillation on U.S. Corn Production and Downside Risk," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119785, Southern Agricultural Economics Association.
- Noy, Ilan, 2009.
"The macroeconomic consequences of disasters,"
Journal of Development Economics, Elsevier, vol. 88(2), pages 221-231, March.
- Ilan Noy, 2007. "The Macroeconomic Consequences of Disasters," Working Papers 200707, University of Hawaii at Manoa, Department of Economics.
- Chimeli, Ariaster B. & De Souza Filho, Francisco De Assis & Holanda, Marcos Costa & Petterini, Francis Carlo, 2008. "Forecasting the impacts of climate variability: lessons from the rainfed corn market in Ceará, Brazil," Environment and Development Economics, Cambridge University Press, vol. 13(2), pages 201-227, April.
- Jesse B. Tack & David Ubilava, 2015.
"Climate and agricultural risk: measuring the effect of ENSO on U.S. crop insurance,"
Agricultural Economics, International Association of Agricultural Economists, vol. 46(2), pages 245-257, March.
- Tack, Jesse B. & Ubilava, David, 2013. "El Ni˜no Southern Oscillation Impacts on Crop Insurance," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 151429, Agricultural and Applied Economics Association.
- Ruiqing Miao & Madhu Khanna & Haixiao Huang, 2016. "Responsiveness of Crop Yield and Acreage to Prices and Climate," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 98(1), pages 191-211.
- John D. Anderson & Keith H. Coble, 2010. "Impact of renewable fuels standard ethanol mandates on the corn market," Agribusiness, John Wiley & Sons, Ltd., vol. 26(1), pages 49-63.
- Mekonnen, Mesfin M. & Hoekstra, Arjen Y. & Neale, Christopher M.U. & Ray, Chittaranjan & Yang, Haishun S., 2020. "Water productivity benchmarks: The case of maize and soybean in Nebraska," Agricultural Water Management, Elsevier, vol. 234(C).
- Aiguo Dai, 2013. "Erratum: Increasing drought under global warming in observations and models," Nature Climate Change, Nature, vol. 3(2), pages 171-171, February.
- Matthew T. Holt, 1992. "A Multimarket Bounded Price Variation Model under Rational Expectations: Corn and Soybeans in the United States," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(1), pages 10-20.
- John R. Porter & Mark Howden & Pete Smith, 2017. "Considering agriculture in IPCC assessments," Nature Climate Change, Nature, vol. 7(10), pages 680-683, October.
- Ubilava, David, 2017.
"The ENSO Effect and Asymmetries in Wheat Price Dynamics,"
World Development, Elsevier, vol. 96(C), pages 490-502.
- Ubilava, David, 2014. "The ENSO Effect and Asymmetries in Wheat Price Dynamics," Working Papers 2014-06, University of Sydney, School of Economics, revised Apr 2017.
- Angus Deaton, 1999.
"Commodity Prices and Growth in Africa,"
Journal of Economic Perspectives, American Economic Association, vol. 13(3), pages 23-40, Summer.
- Deaton, A., 1999. "Commodity Prices and Growth in Aftica," Papers 186, Princeton, Woodrow Wilson School - Development Studies.
- Yuying Sun & Kenan Qiao & Shouyang Wang, 2021. "Uncertainty shocks of Trump election in an interval model of stock market," Quantitative Finance, Taylor & Francis Journals, vol. 21(5), pages 865-879, May.
- Gardner Bruce, 2007. "Fuel Ethanol Subsidies and Farm Price Support," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 5(2), pages 1-22, December.
- Atanu Ghoshray, 2019. "Are Shocks Transitory or Permanent? An Inquiry into Agricultural Commodity Prices," Journal of Agricultural Economics, Wiley Blackwell, vol. 70(1), pages 26-43, February.
- Xiaomeng Cui, 2020. "Beyond Yield Response: Weather Shocks and Crop Abandonment," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 7(5), pages 901-932.
- Lundbergh, Stefan & Terasvirta, Timo & van Dijk, Dick, 2003.
"Time-Varying Smooth Transition Autoregressive Models,"
Journal of Business & Economic Statistics, American Statistical Association, vol. 21(1), pages 104-121, January.
- Lundbergh, Stefan & Teräsvirta, Timo & van Dijk, Dick, 2000. "Time-Varying Smooth Transition Autoregressive Models," SSE/EFI Working Paper Series in Economics and Finance 376, Stockholm School of Economics.
- Jean-Paul Chavas & Matthew T. Holt, 1990.
"Acreage Decisions Under Risk: The Case of Corn and Soybeans,"
American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(3), pages 529-538.
- Chavas, Jean-Paul & Holt, Matthew T., 1990. "Acreage Decisions Under Risk: The Case of Corn and Soybeans," 1990 Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk Meeting, January 28-31, 1990, Sanibel Island, Florida 271540, Regional Research Projects > S-232: Quantifying Long Run Agricultural Risks and Evaluating Farmer Responses to Risk.
- Thanarak Laosuthi & David D. Selover, 2007. "Does El Nino Affect Business Cycles," Eastern Economic Journal, Eastern Economic Association, vol. 33(1), pages 21-42, Winter.
- Elliott, Graham & Rothenberg, Thomas J & Stock, James H, 1996.
"Efficient Tests for an Autoregressive Unit Root,"
Econometrica, Econometric Society, vol. 64(4), pages 813-836, July.
- Graham Elliott & Thomas J. Rothenberg & James H. Stock, 1992. "Efficient Tests for an Autoregressive Unit Root," NBER Technical Working Papers 0130, National Bureau of Economic Research, Inc.
- Tom Doan, "undated". "GLSDETREND: RATS procedure to perform local to unity GLS detrending," Statistical Software Components RTS00077, Boston College Department of Economics.
- Tom Doan, "undated". "ERSTEST: RATS procedure to perform Elliott-Rothenberg-Stock unit root tests," Statistical Software Components RTS00066, Boston College Department of Economics.
- David Ubilava, 2012. "El Niño, La Niña, and world coffee price dynamics," Agricultural Economics, International Association of Agricultural Economists, vol. 43(1), pages 17-26, January.
- Karumuri Ashok & Toshio Yamagata, 2009. "The El Niño with a difference," Nature, Nature, vol. 461(7263), pages 481-484, September.
- Sun, Yuying & Zhang, Xun & Hong, Yongmiao & Wang, Shouyang, 2019. "Asymmetric pass-through of oil prices to gasoline prices with interval time series modelling," Energy Economics, Elsevier, vol. 78(C), pages 165-173.
- Bernardina Algieri, 2014. "A roller coaster ride: an empirical investigation of the main drivers of the international wheat price," Agricultural Economics, International Association of Agricultural Economists, vol. 45(4), pages 459-475, July.
- Solomon M. Hsiang & Kyle C. Meng & Mark A. Cane, 2011. "Civil conflicts are associated with the global climate," Nature, Nature, vol. 476(7361), pages 438-441, August.
- A. Timmermann & J. Oberhuber & A. Bacher & M. Esch & M. Latif & E. Roeckner, 1999. "Increased El Niño frequency in a climate model forced by future greenhouse warming," Nature, Nature, vol. 398(6729), pages 694-697, April.
- F. Siegert & G. Ruecker & A. Hinrichs & A. A. Hoffmann, 2001. "Increased damage from fires in logged forests during droughts caused by El Niño," Nature, Nature, vol. 414(6862), pages 437-440, November.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Ubilava, David, 2017.
"The ENSO Effect and Asymmetries in Wheat Price Dynamics,"
World Development, Elsevier, vol. 96(C), pages 490-502.
- Ubilava, David, 2014. "The ENSO Effect and Asymmetries in Wheat Price Dynamics," Working Papers 2014-06, University of Sydney, School of Economics, revised Apr 2017.
- Davinson Stev Abril‐Salcedo & Luis Fernando Melo‐Velandia & Daniel Parra‐Amado, 2020.
"Nonlinear relationship between the weather phenomenon El niño and Colombian food prices,"
Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 64(4), pages 1059-1086, October.
- Abril-Salcedo, Davinson Stev & Melo-Velandia, Luis Fernando & Parra-Amado, Daniel, 2020. "Nonlinear relationship between the weather phenomenon El ni~no and Colombian food prices," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 64(04), January.
- Melo-Velandia, Luis Fernando & Parra-Amado, Daniel & Abril-Salcedo, Davinson Stev, 2019. "Nonlinear relationship between the weather phenomenon El Niño and Colombian food prices," Working papers 23, Red Investigadores de Economía.
- Davinson Stev Abril Salcedo & Luis Fernando Melo-Velandia & Daniel Parra-Amado, 2019. "Nonlinear relationship between the weather phenomenon El Niño and Colombian food prices," Borradores de Economia 1085, Banco de la Republica de Colombia.
- Andrea Bastianin & Alessandro Lanza & Matteo Manera, 2018.
"Economic impacts of El Niño southern oscillation: evidence from the Colombian coffee market,"
Agricultural Economics, International Association of Agricultural Economists, vol. 49(5), pages 623-633, September.
- Bastianin, Andrea & Lanza, Alessandro & Manera, Matteo, 2016. "Economic Impacts of El Niño Southern Oscillation: Evidence from the Colombian Coffee Market," EIA: Climate Change: Economic Impacts and Adaptation 250258, Fondazione Eni Enrico Mattei (FEEM).
- Bastianin, Andrea & Lanza, Alessandro & Manera, Matteo, 2018. "Economic impacts of El Niño Southern Oscillation: evidence from the Colombian coffee market," MPRA Paper 89984, University Library of Munich, Germany.
- Andrea Bastianin & Alessandro Lanza & Matteo Manera, 2016. "Economic Impacts of El Niño Southern Oscillation: Evidence from the Colombian Coffee Market," Working Papers 2016.73, Fondazione Eni Enrico Mattei.
- Andrea BASTIANIN & Alessandro LANZA & Matteo MANERA, 2016. "Economic Impacts of El Niño Southern Oscillation: Evidence from the Colombian Coffee Market," Departmental Working Papers 2016-14, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Smith, Sarah C. & Ubilava, David, 2017. "The El Niño Southern Oscillation and Economic Growth in the Developing World," Working Papers 2017-11, University of Sydney, School of Economics, revised May 2017.
- David Ubilava, 2018.
"The Role of El Niño Southern Oscillation in Commodity Price Movement and Predictability,"
American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 100(1), pages 239-263.
- Ubilava, David, 2016. "The Role of El Niño Southern Oscillation in Commodity Price Movement and Predictability," Working Papers 2016-10, University of Sydney, School of Economics.
- Salisu, Afees A. & Gupta, Rangan & Nel, Jacobus & Bouri, Elie, 2022.
"The (Asymmetric) effect of El Niño and La Niña on gold and silver prices in a GVAR model,"
Resources Policy, Elsevier, vol. 78(C).
- Afees A. Salisu & Rangan Gupta & Jacobus Nel & Elie Bouri, 2021. "The (Asymmetric) Effect of El Nino and La Nina on Gold and Silver Prices in a GVAR Model," Working Papers 202132, University of Pretoria, Department of Economics.
- Gilles Dufrénot & William Ginn & Marc Pourroy, 2023.
"ENSO Climate Patterns on Global Economic Conditions,"
AMSE Working Papers
2308, Aix-Marseille School of Economics, France.
- Gilles Dufrénot & William Ginn & Marc Pourroy, 2023. "ENSO Climate Patterns on Global Economic Conditions," Working Papers hal-04064759, HAL.
- Luis Fernando Melo‐Velandia & Camilo Andrés Orozco‐Vanegas & Daniel Parra‐Amado, 2022.
"Extreme weather events and high Colombian food prices: A non‐stationary extreme value approach,"
Agricultural Economics, International Association of Agricultural Economists, vol. 53(S1), pages 21-40, November.
- Luis Fernando Melo-Velandia & Camilo Andrés Orozco-Vanegas & Daniel Parra-Amado, 2022. "Extreme weather events and high Colombian food prices: A non-stationary extreme value approach," Borradores de Economia 1189, Banco de la Republica de Colombia.
- Atems, Bebonchu & Sardar, Naafey, 2021. "Exploring asymmetries in the effects of El Niño-Southern Oscillation on U.S. food and agricultural stock prices," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 1-14.
- Ubilava, David & Orlowski, Jan, 2016. "The Predictive Content of Climate Anomalies for Agricultural Production: Does ENSO Really Matter?," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236281, Agricultural and Applied Economics Association.
- Matteo Bonato & Oğuzhan Çepni & Rangan Gupta & Christian Pierdzioch, 2023.
"El Niño, La Niña, and forecastability of the realized variance of agricultural commodity prices: Evidence from a machine learning approach,"
Journal of Forecasting, John Wiley & Sons, Ltd., vol. 42(4), pages 785-801, July.
- Matteo Bonato & Oguzhan Cepni & Rangan Gupta & Christian Pierdzioch, 2021. "El Nino, La Nina, and Forecastability of the Realized Variance of Agricultural Commodity Prices: Evidence from a Machine Learning Approach," Working Papers 202179, University of Pretoria, Department of Economics.
- Wei, Yu & Zhang, Jiahao & Chen, Yongfei & Wang, Yizhi, 2022. "The impacts of El Niño-southern oscillation on renewable energy stock markets: Evidence from quantile perspective," Energy, Elsevier, vol. 260(C).
- Massimo Peri, 2017. "Climate variability and the volatility of global maize and soybean prices," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 9(4), pages 673-683, August.
- Peri, Massimo, 2015. "Cliamte Variability and Agricultural Price volatility: the case of corn and soybeans," 2015 Conference, August 9-14, 2015, Milan, Italy 212623, International Association of Agricultural Economists.
- Checo, Ariadne & Mejía, Mariam & Ramírez, Francisco A., 2017. "El rol de los regímenes de precipitaciones sobre la dinámica de precios y actividad del sector agropecuario de la República Dominicana durante el período 2000-2016 [The role of rainfall regimes on ," MPRA Paper 80301, University Library of Munich, Germany.
- Gilles Dufrénot & William Ginn & Marc Pourroy, 2021.
"The Effect of ENSO Shocks on Commodity Prices: A Multi-Time Scale Approach,"
Working Papers
halshs-03225070, HAL.
- Gilles Dufrénot & William Ginn & Marc Pourroy, 2021. "The Effect of ENSO Shocks on Commodity Prices: A Multi-Time Scale Approach," AMSE Working Papers 2130, Aix-Marseille School of Economics, France.
- Hernan Botero & Andrew P. Barnes, 2022. "The effect of ENSO on common bean production in Colombia: a time series approach," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 14(6), pages 1417-1430, December.
- Emediegwu, Lotanna Ernest, 2023. "Assessing the (a)symmetric effect of global climate anomalies on food prices: Evidence from local prices," 97th Annual Conference, March 27-29, 2023, Warwick University, Coventry, UK 334555, Agricultural Economics Society - AES.
- Cashin, Paul & Mohaddes, Kamiar & Raissi, Mehdi, 2017.
"Fair weather or foul? The macroeconomic effects of El Niño,"
Journal of International Economics, Elsevier, vol. 106(C), pages 37-54.
- Paul Cashin & Kamiar Mohaddes & Mehdi Raissi, 2014. "Fair Weather or Foul? The Macroeconomic Effects of El Niño," Cambridge Working Papers in Economics 1418, Faculty of Economics, University of Cambridge.
- Paul Cashin & Kamiar Mohaddes & Mehdi Raissi, 2015. "Fair weather or foul? the macroeconomic effects of El Niño," Globalization Institute Working Papers 239, Federal Reserve Bank of Dallas.
- Mr. Paul Cashin & Mr. Kamiar Mohaddes & Mr. Mehdi Raissi, 2015. "Fair Weather or Foul? The Macroeconomic Effects of El Niño," IMF Working Papers 2015/089, International Monetary Fund.
- David Ubilava, 2012. "Modeling Nonlinearities in the U.S. Soybean‐to‐Corn Price Ratio: A Smooth Transition Autoregression Approach," Agribusiness, John Wiley & Sons, Ltd., vol. 28(1), pages 29-41, January.
More about this item
Keywords
Environmental Economics and Policy; Demand and Price Analysis;NEP fields
This paper has been announced in the following NEP Reports:- NEP-AGR-2021-12-13 (Agricultural Economics)
- NEP-ENV-2021-12-13 (Environmental Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:iaae21:315271. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/iaaeeea.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.