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A Sequential Rationality and Efficiency Test of U.S. Department of Agriculture Program Crop Price Estimates: Rice, Wheat, and Soybeans

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  • No, Sung Chul
  • Salassi, Michael E.

Abstract

This paper examines the USDA price estimates of rice, wheat, and soybeans and whether spot commodity prices reflect price information embodied in USDA estimates. Results indicate that the monthly USDA estimates are failed to meet a rationality condition. Rice and wheat actual prices marginally incorporate the information embodied in USDA past price estimates.

Suggested Citation

  • No, Sung Chul & Salassi, Michael E., 2008. "A Sequential Rationality and Efficiency Test of U.S. Department of Agriculture Program Crop Price Estimates: Rice, Wheat, and Soybeans," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6814, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saeaed:6814
    DOI: 10.22004/ag.econ.6814
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    References listed on IDEAS

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    Cited by:

    1. Malcolm, Scott A. & Marshall, Elizabeth P. & Aillery, Marcel P. & Heisey, Paul W. & Livingston, Michael J. & Day-Rubenstein, Kelly A., 2012. "Agricultural Adaptation to a Changing Climate: Economic and Environmental Implications Vary by U.S. Region," Economic Research Report 127734, United States Department of Agriculture, Economic Research Service.

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    Keywords

    Agricultural and Food Policy; Research Methods/ Statistical Methods; Crop Production/Industries;
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