Cash-futures price relationships in the No. 12 sugar market
1986
Conklin, N.C. | Maurer, E.
Extract: The Coffee, Sugar, and Cocoa Exchange stopped reporting the domestic spot sugar price, Contract No. 12, in May 1985. The absence of this price creates a significant informtion gap in the sugar marketing system. Because of the low trading volume in sugar markets, the loss of the No. 12 spot price is a source of concern to the sugar industry. Statistical analysis of the relationship between the cash and nearby sugar futures prices from 1980 to 1985 indicate that daily changes in futures prices lead daily spot price changes. The results also suggest that cash-futures price relationships changed following the imposition of import quotas in May 1982.
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