The integration of the market for soybeans and soybean products

Uri, Noel D.; Chomo, G.V.; Hoskin, Roger; Hyberg, Bengt

doi:10.1016/0306-9192(93)90077-o

Cited by 9 publications

(3 citation statements)

References 32 publications

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“…Previous studies found that the soybean, soybean meal, and soybean oil markets were all linked and efficient (e.g. Uri et al, 1993a). Price movements in these markets parallel one another and price shocks to the market are quickly dissipated.…”

Section: Discussionmentioning

confidence: 96%

“…For example, the processing margin of soybeans (the difference between the value of the soybean oil and soybean meal that can be extracted from a bushel of soybeans, and the price paid for a bushel of soybeans) would be expected to offer a measure of the opportunities available to soybean processors. Evidence from Uri et al (1993a) indicates that world markets for soybeans and soybean products are linked and extremely efficient. Thus, estimates of US processing margins are used to capture changes in world markets of the relative price of soybeans and soybean products compared to processing costs.…”

Section: Other Considerationsmentioning

confidence: 98%

“…The variable was retained because there is a strong theoretical reason to expect the processing margin variable to influence export prices (Uri et al, 1993a). The coefficients obtained were significant and robust and the relationship with price over the period examined is implicitly understood.…”

Section: Combined Modelmentioning

confidence: 99%

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The market valuation of soybean quality characteristics

Hyberg

Uri

Mercier

et al. 1994

Oxford Agrarian Studies

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The price and quality characteristics of 213 shiploads of US soybeans exported between January 1990 and October 1991 are examined using hedonic analysis. The results of the analysis confirm that the price of soybeans exported is determined in part by the protein and oil content of the soybeans. The analysis further reveals the effects of country-specific domestic and import strategies on component pricing of soybeans. For example, in Japan and The Netherlands, the two largest import destinations for US exported soybeans, the value of both soybean oil and soybean meal have positive effects on the price of soybeans. For the Republic of Korea, however, the soybean meal content does not affect the price of soybeans imported from the US. Measures of the processable content of soybeans such as damaged kernels and the percentage of foreign material, as expected, have statistically significant negative effects on the export price of soybeans, although not in all markets. Finally, the US grades and standards given to soybeans are not statistically significant in explaining the export price of soybeans.

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Section: Discussionmentioning

confidence: 96%

Section: Other Considerationsmentioning

confidence: 98%