Cloned page from 2020
(2/25)
Read the CME Self-study Guide to Hedging.
You also might find useful the CME’s online Introduction to Futures.
(2/11)
The Surplus Transformation Curve comparing a quota with a deficiency payment.
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Read Russell Roberts’s essay on the benefits of trade.
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Read Alston & James (2002), “The Incidence of Agricultural Policy.”
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Look at the spreadsheet on wheat’s share in flour on the farm share of wheat in flour, courtesy of USDA-ERS. Can you think of an explanation for its rise and then fall over the 2000-2017 period?
In connection with the same issue, read how the USDA calculates the farm share of white flour.
The anatomy of a wheat kernel.
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The Class Schedule page has been updated to reflect the in-class discussion rotation.
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A complete version of the 1/7/20 WSJ article on wheat prices.