The paper examines empirical returns from holding thirty- and ninety-day call and put positions, and the forecasting performance of implied volatility in the live and feeder cattle options markets. In both markets, implied volatility is an upwardly biased and inefficient predictor of realized...

In EU Countries in the last decade there has been a reduction of the number of farms, combined with a significant increase in their average size. First response to crisis in EU agriculture is the enhancement the competitiveness of farms in bio-economy issues, i.e. quality: EU farmers must build...

The rural development plans in Europe, within the provisions of Axis Two of the Common Agricultural Policy, consider the opportunity to protect and enhance “environmental-friendly” farming systems. The present paper describes the role of organic farming measures in the promotion and...

Sustainable management of natural resources and climate action together form one of the three objectives of the Common Agricultural Policy (CAP) 2014–2020. They are addressed by replacing the existing direct payments under Pillar 1 with a basic payment topped up by an additional payment...

This paper aims at investigating what influences the distribution of the RDP funds across the EU space. Eventually, funds allocation is the consequence of some political decision. Nonetheless, this political decision can not be directly observed. While the allocation across countries and, when...

Grain prices have risen sharply since 2005 and 2006 affecting livestock markets by increasing feed prices and leading to significant volatility shocks. The high price levels and magnitude of sustained high volatilities has raised concerns for many sectors of the economy, in particular those with...

Futures prices when combined with a basis forecast provide a reliable way to forecast cash prices. The most popular method of forecasting basis is historical moving averages. Given the recent failure of longer moving averages proposed by previous studies, this research reassesses past...

We study the difference in the volatility dynamics of CBOT corn, soybeans, and oats futures prices across different delivery horizons via the smoothed Bayesian estimator of Karali, Dorfman, and Thurman (2010). We show that the futures price volatilities in these markets are affected by the...

This study develops a multi-crop insurance model which is employed to evaluate crop insurance decisions when several crops are produced jointly. The results suggest that the diversification effects derived from producing multiple crops can substantially alter the risk reduction impacts of crop...

Taken together, studies that examine how well commodity futures markets perform find that risk premiums are common—and so unbiasedness is not—and markets are not uniformly efficient across commodities or forecast horizons. This large body of research sheds important light on whether and to...