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Analysis of Soybean Meal Price Discovery Function in China

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Last date : 26-Oct-2022

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Analysis of Soybean Meal Price Discovery Function in China


Zhang Jiayu | Zhang Yuan



Zhang Jiayu | Zhang Yuan "Analysis of Soybean Meal Price Discovery Function in China" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6, October 2021, pp.1251-1258, URL: https://www.ijtsrd.com/papers/ijtsrd47601.pdf

Soybean meal, as the largest and most active agricultural product futures in China, involves a wide range of industries and a wide range of industries. After the Sino-US trade friction, the raw material cost of soybean meal has risen, and the price fluctuates greatly. It is important to explore the impact of trade friction on the price discovery function of China's soybean meal futures, which will improve the efficiency of China's soybean meal futures market and promote it to better serve the real economy. significance. This article compares the discovery function of soybean meal futures market before and after the Sino-US trade friction, and analyzes the reasons for the difference. Co-integration test, causality test, variance decomposition, and PT-IS model are used to analyze the soybean meal futures and spot prices from 2014 to 2020. The empirical results show that, in general, the soybean meal futures market plays a leading role in the price discovery process, but trade The price discovery function in the period after the friction occurs is relatively weaker than in the previous period. Finally, specific suggestions are put forward in terms of improving the structure of market participants and the information disclosure system.

soybean meal futures; price discovery function; trade friction; common factor model


IJTSRD47601
Volume-5 | Issue-6, October 2021
1251-1258
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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