{"title":"Origin and Export Basis Interdependencies in Soybeans: A Panel Data Analysis","authors":"Prithviraj Lakkakula, W. Wilson","doi":"10.22004/AG.ECON.302464","DOIUrl":null,"url":null,"abstract":"Forward pricing and allocation mechanisms for rail transportation serve critical functions for the grain-marketing system. We examine the effects of shipping costs on the origin and export basis using a panel simultaneous-equations model. Results indicate that the origin and export basis are determined simultaneously with each one affected by the dynamic variability of shipping costs. On average, a dollar increase for the shipping costs decreases the origin basis by 19 cents and increases the export basis by 82 cents per bushel of soybeans. The interaction between shipping cost and exports on the export basis impacts both marketing and trading strategies in the grain-marketing system.","PeriodicalId":54890,"journal":{"name":"Journal of Agricultural and Resource Economics","volume":null,"pages":null},"PeriodicalIF":1.2000,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"5","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Agricultural and Resource Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.22004/AG.ECON.302464","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"AGRICULTURAL ECONOMICS & POLICY","Score":null,"Total":0}
引用次数: 5
Abstract
Forward pricing and allocation mechanisms for rail transportation serve critical functions for the grain-marketing system. We examine the effects of shipping costs on the origin and export basis using a panel simultaneous-equations model. Results indicate that the origin and export basis are determined simultaneously with each one affected by the dynamic variability of shipping costs. On average, a dollar increase for the shipping costs decreases the origin basis by 19 cents and increases the export basis by 82 cents per bushel of soybeans. The interaction between shipping cost and exports on the export basis impacts both marketing and trading strategies in the grain-marketing system.
期刊介绍：
The mission of the Journal of Agricultural and Resource Economics is to publish creative and scholarly economic studies in agriculture, natural resources, and related areas. Manuscripts dealing with the economics of food and agriculture, natural resources and the environment, human resources, and rural development issues are especially encouraged. The Journal provides a forum for topics of interest to those performing economic research as well as to those involved with economic policy and education. Submission of comments on articles previously published in the Journal is welcomed.
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