The Reaction of Wheat, Corn and Soybean Futures Prices to USDA's Export Inspections Report
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Publisher:Ohio State University. Department of Agricultural, Environmental, and Development Economics
Series/Report no.:Ohio State University. Department of Agricultural Economics and Rural Sociology. ESO (Economics and Sociology Occasional Paper). No. 2097
USDA's weekly Export Inspections Report is found to provide only limited information to the market over the period from 1988 through 1991. Wheat futures prices did not react to the unanticipated information in the report, while corn and soybean futures prices reacted significantly only during two of the five marketing years contained within the study period. This finding suggest that the Export Report Inspections may be redundant in the sense that its informational value has already been provided by the requirement that large export sales be reported daily.
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