Valenti, Daniele; Bertoni, Danilo; Cavicchioli, Daniele; … - 2023
We present a Bayesian structural Vector Autoregressive model of the global wheat market to examine the relative … importance of supply and demand shocks, which are interpreted as the fundamental driving forces of wheat price. To our knowledge … opposite in signs (0.19 for supply and -0.20 for demand); (ii) the price and the inventories respond to global wheat market …