The Impact of Situation and Outlook Information in Corn and Soybean Futures Markets: Evidence from WASDE Reports

The purpose of this study was to examine the impact of situation and outlook information from World Agricultural Supply and Demand Estimates (WASDE) in corn and soybean futures markets over the period 1985 to 2006. Results indicate that WASDE reports containing National Agricultural Statistics Service (NASS) crop production estimates and other domestic and international situation and outlook information have the largest impact; causing return variance on report sessions to be 7.38 times greater than normal return variance in corn futures and 6.87 times greater than normal return variance in soybean futures. WASDE reports limited to international situation information and domestic and international outlook information have a smaller impact. The results show that the impact of WASDE reports has increased over time.


Issue Date:
2008-04
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/45048
Published in:
Journal of Agricultural and Applied Economics, Volume 40, Number 1
Page range:
89-103
Total Pages:
15
JEL Codes:
Q100; Q110; Q130




 Record created 2017-04-01, last modified 2017-08-25

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