메뉴 건너뛰기




Volumn 32, Issue 1, 2010, Pages 77-94

The adequacy of speculation in agricultural futures markets: Too much of a good thing?

Author keywords

Commitment of traders; Commodity futures markets; Index funds

Indexed keywords


EID: 77955321364     PISSN: 20405790     EISSN: 20405804     Source Type: Journal    
DOI: 10.1093/aepp/ppp006     Document Type: Article
Times cited : (127)

References (34)
  • 1
    • 77955325845 scopus 로고    scopus 로고
    • Going Long on Commodities
    • May/June
    • Acworth, W. 2005. Going Long on Commodities. Futures Industry May/June, 24-28.
    • (2005) Futures Industry , pp. 24-28
    • Acworth, W.1
  • 2
    • 73249147418 scopus 로고    scopus 로고
    • Agricultural and Food Policy Center (AFPC). AFPC Research Report 08-1, April 2008
    • Agricultural and Food Policy Center (AFPC). 2008. The Effects of Ethanol on Texas Food and Feed. AFPC Research Report 08-1, April 2008. http://www.afpc.tamu.edu/pubs/2/515/RR-08-01.pdf.
    • (2008) The Effects of Ethanol on Texas Food and Feed
  • 3
    • 77955332329 scopus 로고    scopus 로고
    • Commodity Futures Trading Commission (CFTC). Federal Register 71, FR 35627 June 21 2006
    • Commodity Futures Trading Commission (CFTC). 2006a. Comprehensive Review of the Commitments of Traders Reporting Program. Federal Register 71, FR 35627, June 21, 2006.
    • (2006) Comprehensive Review of the Commitments of Traders Reporting Program
  • 5
    • 77955316551 scopus 로고    scopus 로고
    • Commodity Futures Trading Commission (CFTC). About the Commitments of Traders (accessed on May 15, 2008)
    • Commodity Futures Trading Commission (CFTC). 2008a. About the Commitments of Traders. http://www.cftc.gov/marketreports/commitmentsoftraders/cot_about.html (accessed on May 15, 2008).
    • (2008)
  • 6
    • 77955313680 scopus 로고    scopus 로고
    • Commodity Futures Trading Commission (CFTC). CFTC Announces Agricultural Market Initiatives (accessed on June 4, 2008)
    • Commodity Futures Trading Commission (CFTC). 2008b. CFTC Announces Agricultural Market Initiatives. http://cftc.gov/newsroom/generalpressreleases/2008/pr5504-08.html (accessed on June 4, 2008).
    • (2008)
  • 7
    • 77955321576 scopus 로고    scopus 로고
    • Committee on Homeland Security and Government Affairs (CHSGA), U.S. Senate. Lieberman, Collins Say Commodities Market Speculation Contributes to High Cost of Food, Oil (accessed on May 27 2008)
    • Committee on Homeland Security and Government Affairs (CHSGA), U.S. Senate. 2008. Lieberman, Collins Say Commodities Market Speculation Contributes to High Cost of Food, Oil. http://hsgac.senate.gov/public/index.cfm?Fuseaction=PressReleases.Detail &PressRelease_id=5b4235c6-a484-4a0a-9753-288ae81b2a54&Month=5 &Year=2008&Affiliation=C (accessed on May 27, 2008).
    • (2008)
  • 9
    • 0141942622 scopus 로고    scopus 로고
    • Who Trades Futures and How: Evidence from the Heating Oil Market
    • Ederington, L., and J.H. Lee. 2002. Who Trades Futures and How: Evidence from the Heating Oil Market. Journal of Business 75:353-373.
    • (2002) Journal of Business , vol.75 , pp. 353-373
    • Ederington L. J.H., Lee.1
  • 10
    • 84887249975 scopus 로고    scopus 로고
    • Types of Commodity Investments
    • eds. F.J. Fabozzi, R. Fuss, and D. Kaiser Hoboken, N.J.: John Wiley and Sons
    • Engelke, L., and J.C. Yuen. 2008. Types of Commodity Investments. In The Handbook of Commodity Investing, eds. F.J. Fabozzi, R. Fuss, and D. Kaiser, 549-569. Hoboken, N.J.: John Wiley and Sons.
    • (2008) The Handbook of Commodity Investing , pp. 549-569
    • Engelke L. J.C., Yuen.1
  • 11
    • 70349880239 scopus 로고    scopus 로고
    • Large Trader Reporting: The Great Equalizer
    • July/August
    • Fenton, J., and G. Martinaitas. 2005. Large Trader Reporting: The Great Equalizer. Futures Industry July/August:34-39.
    • (2005) Futures Industry , pp. 34-39
    • Fenton, J.1    Martinaitas, G.2
  • 17
    • 77955339996 scopus 로고
    • Estimation of Hedging and Speculative Positions in Futures Markets
    • Larson, A.B. 1961. Estimation of Hedging and Speculative Positions in Futures Markets. Food Research Institute Studies 2:203-212.
    • (1961) Food Research Institute Studies , vol.2 , pp. 203-212
    • Larson, A.B.1
  • 18
    • 84979384694 scopus 로고
    • Commercial Use and Speculative Measures of the Livestock Commodity Futures Markets
    • Leuthold, R.M. 1983. Commercial Use and Speculative Measures of the Livestock Commodity Futures Markets. Journal of Futures Markets 3:113-135.
    • (1983) Journal of Futures Markets , vol.3 , pp. 113-135
    • Leuthold, R.M.1
  • 19
    • 70349847106 scopus 로고
    • The CFTC's Large Trader Reporting System: History and Development
    • McDonald, W.E., and S.K. Freund. 1983. The CFTC's Large Trader Reporting System: History and Development. Business Lawyer 38:917-953.
    • (1983) Business Lawyer , vol.38 , pp. 917-953
    • McDonald, W.E.1    Freund, S.K.2
  • 20
    • 77955321072 scopus 로고    scopus 로고
    • US Wheat Futures at Nine-Year Peak. Financial Times. September 29 (accessed October 19, 2006)
    • Morrison, K. 2006. US Wheat Futures at Nine-Year Peak. Financial Times. September 29. http://www.ft.com.(accessed October 19, 2006).
    • (2006)
    • Morrison, K.1
  • 21
    • 0013272345 scopus 로고
    • Nathan Associates, Inc. Special Report, Economic Research Service, U.S. Department of Agriculture
    • Nathan Associates, Inc. 1967. Margins, Speculation, and Prices in Grain Futures Markets. Special Report, Economic Research Service, U.S. Department of Agriculture.
    • (1967) Margins, Speculation, and Prices in Grain Futures Markets
  • 22
    • 11544367277 scopus 로고
    • Reflections of Hedging on Futures Markets
    • Peck, A.E. 1979. Reflections of Hedging on Futures Markets. Food Research Institute Studies 17:327-349.
    • (1979) Food Research Institute Studies , vol.17 , pp. 327-349
    • Peck, A.E.1
  • 23
    • 8744266611 scopus 로고
    • The Role of Economic Analysis in Futures Market Regulation
    • Peck, A.E.. 1980. The Role of Economic Analysis in Futures Market Regulation. American Journal of Agricultural Economics 62:1037-1043.
    • (1980) American Journal of Agricultural Economics , vol.62 , pp. 1037-1043
    • Peck, A.E.1
  • 24
    • 80053037837 scopus 로고
    • The Adequacy of Speculation on the Wheat, Corn, and Soybean Futures Markets
    • ed. R. A. Goldberg, 17-29. Greenwich, Conn.: JAI Press, Inc
    • Peck, A.E.. 1981, The Adequacy of Speculation on the Wheat, Corn, and Soybean Futures Markets. In Research in Domestic and International Agribusiness Management, Vol. 2, ed. R. A. Goldberg, 17-29. Greenwich, Conn.: JAI Press, Inc.
    • (1981) In Research in Domestic and International Agribusiness Management , pp. 2
    • Peck, A.E.1
  • 25
    • 77952328616 scopus 로고
    • Estimation of Hedging and Speculative Positions in Futures Markets Revisited
    • Peck, A.E.. 1982. Estimation of Hedging and Speculative Positions in Futures Markets Revisited. Food Research Institute Studies 18:181-195.
    • (1982) Food Research Institute Studies , vol.18 , pp. 181-195
    • Peck, A.E.1
  • 26
    • 0042673345 scopus 로고
    • Estimation of Hedging and Speculative Positions in Futures Markets: An Alternative Approach
    • Rutledge, D.J.S. 1977. Estimation of Hedging and Speculative Positions in Futures Markets: An Alternative Approach. Food Research Institute Studies 16:205-211.
    • (1977) Food Research Institute Studies , vol.16 , pp. 205-211
    • Rutledge, D.J.S.1
  • 27
    • 2942736903 scopus 로고    scopus 로고
    • Hedgers, Funds, and Small Speculators in the Energy Futures Markets: An Analysis of the CFTC's Commitments of Traders Reports
    • Sanders, D.R., K. Boris, and M. Manfredo. 2004. Hedgers, Funds, and Small Speculators in the Energy Futures Markets: An Analysis of the CFTC's Commitments of Traders Reports. Energy Economics 26:425-445.
    • (2004) Energy Economics , vol.26 , pp. 425-445
    • Sanders, D.R.1    Boris, K.2    Manfredo, M.3
  • 28
    • 57549088733 scopus 로고    scopus 로고
    • The Adequacy of Speculation in Agricultural Futures Markets: Too Much of a Good Thing?
    • Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign. Available at
    • Sanders, D.R., S.H. Irwin, and R.P. Merrin. 2008. The Adequacy of Speculation in Agricultural Futures Markets: Too Much of a Good Thing? Marketing and Outlook Research Report 2008-02, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign. Available at: http://www.farmdoc.uiuc.edu/marketing/morr/morr_archive.html.
    • (2008) Marketing and Outlook Research Report 2008-02
    • Sanders, D.R.1    Irwin, S.H.2    Merrin, R.P.3
  • 29
    • 77955331830 scopus 로고    scopus 로고
    • Futures Markets Users Struggle: Commodities Attract Increased Speculative Interest to the Dismay of Many Commercial Users. Foodbusinessnews.net, May 13, 2008 (accessed May 27, 2008)
    • Sjerven, J. 2008. Futures Markets Users Struggle: Commodities Attract Increased Speculative Interest to the Dismay of Many Commercial Users. Foodbusinessnews.net, May 13, 2008, http://www.foodbusinessnews.net/feature_stories.asp?ArticleID=93497 (accessed May 27, 2008).
    • (2008)
    • Sjerven, J.1
  • 30
    • 70350092551 scopus 로고    scopus 로고
    • Commodity Futures and Options. In Handbook of Agricultural Economics
    • eds. B.L. Gardner, and G.C. Rausser. Amsterdam, Netherlands: Elsevier Science B.V
    • Williams, J.C. 2001. Commodity Futures and Options. In Handbook of Agricultural Economics, Volume 1b: Marketing, Distribution and Consumers, eds. B.L. Gardner, and G.C. Rausser. 745-816. Amsterdam, Netherlands: Elsevier Science B.V.
    • (2001) Marketing, Distribution and Consumers , vol.1 B , pp. 745-816
    • Williams, J.C.1
  • 31
    • 0001232573 scopus 로고
    • Futures Trading and Hedging
    • Working, H. 1953. Futures Trading and Hedging. American Economic Review 43:314-343.
    • (1953) American Economic Review , vol.43 , pp. 314-343
    • Working, H.1
  • 32
    • 0038015331 scopus 로고
    • Whose Markets? Evidence on Some Aspects of Futures Trading
    • Working, H. 1954. Whose Markets? Evidence on Some Aspects of Futures Trading. Journal of. Marketing 29:1-11.
    • (1954) Journal of. Marketing , vol.29 , pp. 1-11
    • Working, H.1
  • 34
    • 0011655475 scopus 로고
    • New Concepts Concerning Futures Markets and Prices
    • Working, H. 1962. New Concepts Concerning Futures Markets and Prices. American Economic Review 62:432-459.
    • (1962) American Economic Review , vol.62 , pp. 432-459
    • Working, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.