Influence of investment funds on soybean price formation on the Chicago Grain Exchange
| Autor(a) principal: | |
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| Data de Publicação: | 2022 |
| Outros Autores: | , , , , |
| Tipo de documento: | Artigo |
| Idioma: | por |
| Título da fonte: | DRd - Desenvolvimento Regional em debate |
| Texto Completo: | http://www.periodicos.unc.br/index.php/drd/article/view/3260 |
Resumo: | This article aimed to study about the theme of investment funds and its influence on the price formation of soybeans at the Chicago Cereal Exchange (CBOT). The main objective was to answer the empirical problem, verified some years ago, that the normal elements of supply and demand have less influence on the formation of these prices, with stronger speculative elements present in the scenario. In other words, we tried to verify to what extent investment funds (and even other funds) influence the price formation of soybeans in Chicago. Therefore, the methodology used consisted of quantitative analysis techniques, mainly from correlation and regression analysis between the future price of soybean grain in CBOT and the various trader groups that trade in CBOT. Among the results obtained, a strong influence of the funds on the formation of soybean prices in Chicago was confirmed, and the sum of the main categories of speculative traders influences this price formation by more than 50%. This paper contributes with relevant empirical findings that highlight the importance of speculative movement in the formation of soybean grain prices. Keywords: Investment Funds. Soybean. Chicago Board Of Trade. Regional Economy. Correlation. |
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Influence of investment funds on soybean price formation on the Chicago Grain ExchangeInfluencia de los fondos de inversión en la formación del precio de la soja en la Bolsa de Cereales de ChicagoInfluência dos fundos de investimentos na formação do preço da soja na Bolsa de Cereais de ChicagoThis article aimed to study about the theme of investment funds and its influence on the price formation of soybeans at the Chicago Cereal Exchange (CBOT). The main objective was to answer the empirical problem, verified some years ago, that the normal elements of supply and demand have less influence on the formation of these prices, with stronger speculative elements present in the scenario. In other words, we tried to verify to what extent investment funds (and even other funds) influence the price formation of soybeans in Chicago. Therefore, the methodology used consisted of quantitative analysis techniques, mainly from correlation and regression analysis between the future price of soybean grain in CBOT and the various trader groups that trade in CBOT. Among the results obtained, a strong influence of the funds on the formation of soybean prices in Chicago was confirmed, and the sum of the main categories of speculative traders influences this price formation by more than 50%. This paper contributes with relevant empirical findings that highlight the importance of speculative movement in the formation of soybean grain prices. Keywords: Investment Funds. Soybean. Chicago Board Of Trade. Regional Economy. Correlation.Este artículo buscó estudiar el tema de los fondos de inversión y su influencia en la formación del precio de la soja con el Chicago Cereals Exchange (CBOT). El principal objetivo fue dar respuesta al problema empírico, verificado desde hace algunos años, de que los elementos normales de oferta y demanda tienen menor influencia en la formación de estos precios, con elementos especulativos más fuertes presentes en el escenario. En otras palabras, se intentó verificar en qué medida los fondos de inversión (e incluso otros fondos) influyen en la formación del precio de la soja en Chicago. Para ello, la metodología empleada consistió en técnicas de análisis cuantitativo, principalmente basadas en análisis de correlación y regresión entre el precio futuro de la soja en CBOT y los diferentes grupos de comerciantes que operan en CBOT. Entre los resultados obtenidos, hubo una fuerte influencia de los fondos en la formación de los precios de la soja en Chicago, y la suma de las principales categorías de comerciantes especulativos influye en esta formación de precios en más del 50%. Este artículo contribuye a hallazgos empíricos relevantes que resaltan la importancia del movimiento especulativo en la formación del precio de la soja en granos. Palavras Clave: Fondos de Inversión. Soja. Bolsa de Valores de Chicago. Economía Regional. Correlación.Este artigo buscou estudar sobre a temática dos fundos de investimentos e sua influência na formação do preço da soja em grão junto à Bolsa de Cereais de Chicago (CBOT). O objetivo principal consistiu em responder ao problema empírico, verificado já há alguns anos, de que os elementos normais de oferta e demanda influenciam menos na formação destes preços, existindo elementos especulativos mais fortes presentes no cenário. Ou seja, buscou-se verificar em que dimensão os fundos de investimentos (e mesmo outros fundos) influenciam na formação do preço da soja em grão em Chicago. Para tanto, a metodologia utilizada consistiu em técnicas quantitativas de análises, principalmente a partir de análises de correlações e regressões entre as variáveis preço futuro da soja em grão na CBOT e os diversos grupos de traders que negociam na CBOT. Dentre os resultados obtidos, confirmou-se forte influência dos fundos na formação dos preços da soja em Chicago, sendo que o somatório das principais categorias de traders especulativos chega a influenciar em mais de 50% esta formação de preço. O presente artigo contribui com achados empíricos relevantes que destacam a importância do movimento especulativo na formação do preço da soja em grãos. Palavras-chave: Fundos de Investimento. Soja. Bolsa de Chicago. Economia Regional. Correlação.Universidade do Contestado (UnC)2022-03-04info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttp://www.periodicos.unc.br/index.php/drd/article/view/326010.24302/drd.v12.3260DRd - Desenvolvimento Regional em debate; v. 12 (2022); 1-232237-902910.24302/drd.v12reponame:DRd - Desenvolvimento Regional em debateinstname:Universidade do Contestado (UNC)instacron:UNCporhttp://www.periodicos.unc.br/index.php/drd/article/view/3260/1748Copyright (c) 2022 DRd - Desenvolvimento Regional em debatehttps://creativecommons.org/licenses/by-nd/4.0info:eu-repo/semantics/openAccessBrum, Argemiro LuisBaggio, Daniel KnebelSchneider, Isoé NicolasSouza, Francisca MendonçaKnebel, Eduardo Luis GoulartSilva, Karla Leticia Morais da2022-09-19T23:32:51Zoai:ojs.pkp.sfu.ca:article/3260Revistahttp://www.periodicos.unc.br/index.php/drdONGhttp://www.periodicos.unc.br/index.php/drd/oaidaniela@unc.br || revistadrd@unc.br || alexandre@unc.br || josiane@unc.br || valdir@unc.br2237-90292237-9029opendoar:2022-09-19T23:32:51DRd - Desenvolvimento Regional em debate - Universidade do Contestado (UNC)false |
| dc.title.none.fl_str_mv |
Influence of investment funds on soybean price formation on the Chicago Grain Exchange Influencia de los fondos de inversión en la formación del precio de la soja en la Bolsa de Cereales de Chicago Influência dos fundos de investimentos na formação do preço da soja na Bolsa de Cereais de Chicago |
| title |
Influence of investment funds on soybean price formation on the Chicago Grain Exchange |
| spellingShingle |
Influence of investment funds on soybean price formation on the Chicago Grain Exchange Brum, Argemiro Luis |
| title_short |
Influence of investment funds on soybean price formation on the Chicago Grain Exchange |
| title_full |
Influence of investment funds on soybean price formation on the Chicago Grain Exchange |
| title_fullStr |
Influence of investment funds on soybean price formation on the Chicago Grain Exchange |
| title_full_unstemmed |
Influence of investment funds on soybean price formation on the Chicago Grain Exchange |
| title_sort |
Influence of investment funds on soybean price formation on the Chicago Grain Exchange |
| author |
Brum, Argemiro Luis |
| author_facet |
Brum, Argemiro Luis Baggio, Daniel Knebel Schneider, Isoé Nicolas Souza, Francisca Mendonça Knebel, Eduardo Luis Goulart Silva, Karla Leticia Morais da |
| author_role |
author |
| author2 |
Baggio, Daniel Knebel Schneider, Isoé Nicolas Souza, Francisca Mendonça Knebel, Eduardo Luis Goulart Silva, Karla Leticia Morais da |
| author2_role |
author author author author author |
| dc.contributor.author.fl_str_mv |
Brum, Argemiro Luis Baggio, Daniel Knebel Schneider, Isoé Nicolas Souza, Francisca Mendonça Knebel, Eduardo Luis Goulart Silva, Karla Leticia Morais da |
| description |
This article aimed to study about the theme of investment funds and its influence on the price formation of soybeans at the Chicago Cereal Exchange (CBOT). The main objective was to answer the empirical problem, verified some years ago, that the normal elements of supply and demand have less influence on the formation of these prices, with stronger speculative elements present in the scenario. In other words, we tried to verify to what extent investment funds (and even other funds) influence the price formation of soybeans in Chicago. Therefore, the methodology used consisted of quantitative analysis techniques, mainly from correlation and regression analysis between the future price of soybean grain in CBOT and the various trader groups that trade in CBOT. Among the results obtained, a strong influence of the funds on the formation of soybean prices in Chicago was confirmed, and the sum of the main categories of speculative traders influences this price formation by more than 50%. This paper contributes with relevant empirical findings that highlight the importance of speculative movement in the formation of soybean grain prices. Keywords: Investment Funds. Soybean. Chicago Board Of Trade. Regional Economy. Correlation. |
| publishDate |
2022 |
| dc.date.none.fl_str_mv |
2022-03-04 |
| dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
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article |
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publishedVersion |
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http://www.periodicos.unc.br/index.php/drd/article/view/3260 10.24302/drd.v12.3260 |
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http://www.periodicos.unc.br/index.php/drd/article/view/3260 |
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10.24302/drd.v12.3260 |
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por |
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por |
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http://www.periodicos.unc.br/index.php/drd/article/view/3260/1748 |
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Copyright (c) 2022 DRd - Desenvolvimento Regional em debate https://creativecommons.org/licenses/by-nd/4.0 info:eu-repo/semantics/openAccess |
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Copyright (c) 2022 DRd - Desenvolvimento Regional em debate https://creativecommons.org/licenses/by-nd/4.0 |
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openAccess |
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application/pdf |
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Universidade do Contestado (UnC) |
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Universidade do Contestado (UnC) |
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DRd - Desenvolvimento Regional em debate; v. 12 (2022); 1-23 2237-9029 10.24302/drd.v12 reponame:DRd - Desenvolvimento Regional em debate instname:Universidade do Contestado (UNC) instacron:UNC |
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daniela@unc.br || revistadrd@unc.br || alexandre@unc.br || josiane@unc.br || valdir@unc.br |
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