{"id":"https://openalex.org/W2128081007","doi":"https://doi.org/10.29105/ensayos29.1-1","title":"The Theory of Storage and Price Dynamics of Agricultural Commodity Futures: the Case of Corn and Wheat","display_name":"The Theory of Storage and Price Dynamics of Agricultural Commodity Futures: the Case of Corn and Wheat","publication_year":2010,"publication_date":"2010-05-01","ids":{"openalex":"https://openalex.org/W2128081007","doi":"https://doi.org/10.29105/ensayos29.1-1","mag":"2128081007"},"language":"en","primary_location":{"id":"doi:10.29105/ensayos29.1-1","doi":"https://doi.org/10.29105/ensayos29.1-1","is_oa":true,"landing_page_url":"http://dx.doi.org/10.29105/ensayos29.1-1","pdf_url":"https://ensayos.uanl.mx/index.php/ensayos/article/download/85/71","source":{"id":"https://openalex.org/S4210226246","display_name":"Ensayos Revista de Econom\u00eda","issn_l":"1870-221X","issn":["1870-221X","2448-8402"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj","latindex","scielo"],"host_organization":"https://openalex.org/P4310319646","host_organization_name":"Universidad Aut\u00f3noma de Nuevo Le\u00f3n","host_organization_lineage":["https://openalex.org/P4310319646"],"host_organization_lineage_names":["Universidad Aut\u00f3noma de Nuevo Le\u00f3n"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ensayos Revista de Econom\u00eda","raw_type":"journal-article"},"parent_works":[],"lineage":["https://openalex.org/W2128081007"],"child_works_count":0,"type":"article","is_traditional":true,"indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://ensayos.uanl.mx/index.php/ensayos/article/download/85/71","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5030976480","display_name":"Guillermo Benavides Perales","orcid":"https://orcid.org/0000-0002-0354-2249","observed_orcids":["https://orcid.org/0000-0002-0354-2249"]},"institutions":[{"id":"https://openalex.org/I29300151","display_name":"Bank of Mexico","ror":"https://ror.org/02xp9d883","country_code":"MX","type":"other","lineage":["https://openalex.org/I29300151"]}],"countries":["MX"],"is_corresponding":true,"raw_author_name":"Guillermo Benavides","raw_affiliation_strings":["Banco de Mexico, Cinco de Mayo # 2, Mexico DF, 06059, Mexico","Banco de M\u00e9xico, , M\u00e9xico, Distrito Federal, M\u00e9xico"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Banco de Mexico, Cinco de Mayo # 2, Mexico DF, 06059, Mexico","institution_ids":["https://openalex.org/I29300151"]},{"raw_affiliation_string":"Banco de M\u00e9xico, , M\u00e9xico, Distrito Federal, M\u00e9xico","institution_ids":["https://openalex.org/I29300151"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5030976480"],"corresponding_institution_ids":["https://openalex.org/I29300151"],"apc_list":null,"apc_paid":null,"fwci":1.9838,"has_fulltext":true,"cited_by_count":8,"citation_normalized_percentile":{"value":0.89029595,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":96},"biblio":{"volume":"29","issue":"1","first_page":"1","last_page":"22"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.7670999765396118,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.7670999765396118,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11898","display_name":"Economics of Agriculture and Food Markets","score":0.14010000228881836,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.07620000094175339,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/theory-of-storage","display_name":"theory of storage","score":0.9900000095367432},{"id":"https://openalex.org/keywords/agricultural-futures","display_name":"agricultural futures","score":0.9419999718666077},{"id":"https://openalex.org/keywords/corn-futures","display_name":"corn futures","score":0.7200000286102295},{"id":"https://openalex.org/keywords/wheat-futures","display_name":"wheat futures","score":1.0},{"id":"https://openalex.org/keywords/price-dynamics","display_name":"price dynamics","score":0.8109999895095825},{"id":"https://openalex.org/keywords/bekk-model","display_name":"BEKK model","score":0.7620000243186951},{"id":"https://openalex.org/keywords/spot-price-volatility","display_name":"spot price volatility","score":0.8610000014305115},{"id":"https://openalex.org/keywords/futures-price-volatility","display_name":"futures price volatility","score":0.878000020980835}],"concepts":[{"id":"https://openalex.org/C106306483","wikidata":"https://www.wikidata.org/wiki/Q183984","display_name":"Futures contract","level":2,"score":0.9117488861083984},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7921352982521057},{"id":"https://openalex.org/C141100683","wikidata":"https://www.wikidata.org/wiki/Q748644","display_name":"Convenience yield","level":4,"score":0.7832852602005005},{"id":"https://openalex.org/C175223733","wikidata":"https://www.wikidata.org/wiki/Q1047888","display_name":"Spot contract","level":3,"score":0.747925341129303},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.7382760047912598},{"id":"https://openalex.org/C193326847","wikidata":"https://www.wikidata.org/wiki/Q798547","display_name":"Normal backwardation","level":4,"score":0.5255500078201294},{"id":"https://openalex.org/C2779439359","wikidata":"https://www.wikidata.org/wiki/Q317088","display_name":"Commodity","level":2,"score":0.5007002353668213},{"id":"https://openalex.org/C90937171","wikidata":"https://www.wikidata.org/wiki/Q764869","display_name":"Contango","level":3,"score":0.46385952830314636},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4637153148651123},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.41350698471069336},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3235284984111786},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.056475162506103516}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.29105/ensayos29.1-1","doi":"https://doi.org/10.29105/ensayos29.1-1","is_oa":true,"landing_page_url":"http://dx.doi.org/10.29105/ensayos29.1-1","pdf_url":"https://ensayos.uanl.mx/index.php/ensayos/article/download/85/71","source":{"id":"https://openalex.org/S4210226246","display_name":"Ensayos Revista de Econom\u00eda","issn_l":"1870-221X","issn":["1870-221X","2448-8402"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj","latindex","scielo"],"host_organization":"https://openalex.org/P4310319646","host_organization_name":"Universidad Aut\u00f3noma de Nuevo Le\u00f3n","host_organization_lineage":["https://openalex.org/P4310319646"],"host_organization_lineage_names":["Universidad Aut\u00f3noma de Nuevo Le\u00f3n"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ensayos Revista de Econom\u00eda","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.301226","doi":"https://doi.org/10.2139/ssrn.301226","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.301226","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:ere:journl:v:xxix:y:2010:i:1:p:1-22","doi":null,"is_oa":true,"landing_page_url":"http://www.economia.uanl.mx/revistaensayos/xxix/1/benavides-the-theory-of-storage.pdf","pdf_url":"http://www.economia.uanl.mx/revistaensayos/xxix/1/benavides-the-theory-of-storage.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:c2cd851ec6244e20bc08462593bc52f5","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/c2cd851ec6244e20bc08462593bc52f5","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Ensayos Revista de Econom\u00eda, Vol 29, Iss 1 (2010)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.29105/ensayos29.1-1","doi":"https://doi.org/10.29105/ensayos29.1-1","is_oa":true,"landing_page_url":"http://dx.doi.org/10.29105/ensayos29.1-1","pdf_url":"https://ensayos.uanl.mx/index.php/ensayos/article/download/85/71","source":{"id":"https://openalex.org/S4210226246","display_name":"Ensayos Revista de Econom\u00eda","issn_l":"1870-221X","issn":["1870-221X","2448-8402"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj","latindex","scielo"],"host_organization":"https://openalex.org/P4310319646","host_organization_name":"Universidad Aut\u00f3noma de Nuevo Le\u00f3n","host_organization_lineage":["https://openalex.org/P4310319646"],"host_organization_lineage_names":["Universidad Aut\u00f3noma de Nuevo Le\u00f3n"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ensayos Revista de Econom\u00eda","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.9208999872207642,"id":"https://metadata.un.org/sdg/2","display_name":"Zero hunger"}],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320321739","display_name":"Consejo Nacional de Ciencia y Tecnolog\u00eda","ror":"https://ror.org/059ex5q34"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2128081007.pdf","grobid_xml":"https://content.openalex.org/works/W2128081007.grobid-xml"},"referenced_works_count":42,"referenced_works":["https://openalex.org/W66483636","https://openalex.org/W1481945423","https://openalex.org/W1522592437","https://openalex.org/W1605761934","https://openalex.org/W1965071402","https://openalex.org/W1966095677","https://openalex.org/W1966615387","https://openalex.org/W1970286996","https://openalex.org/W1975994995","https://openalex.org/W1977300082","https://openalex.org/W1977480757","https://openalex.org/W1980617496","https://openalex.org/W1998968611","https://openalex.org/W2003585160","https://openalex.org/W2007641938","https://openalex.org/W2010316109","https://openalex.org/W2017092529","https://openalex.org/W2044503966","https://openalex.org/W2045892935","https://openalex.org/W2054477007","https://openalex.org/W2055289489","https://openalex.org/W2055602025","https://openalex.org/W2074158860","https://openalex.org/W2076632931","https://openalex.org/W2086714066","https://openalex.org/W2127388073","https://openalex.org/W2129798139","https://openalex.org/W2160391594","https://openalex.org/W2499558369","https://openalex.org/W2602224136","https://openalex.org/W3121818550","https://openalex.org/W3124550551","https://openalex.org/W3125665893","https://openalex.org/W3126084825","https://openalex.org/W3146166473","https://openalex.org/W4229986619","https://openalex.org/W4237970111","https://openalex.org/W4239534973","https://openalex.org/W4241115065","https://openalex.org/W4243079420","https://openalex.org/W4388062365","https://openalex.org/W6724034767"],"related_works":["https://openalex.org/W3082015058","https://openalex.org/W3171472356","https://openalex.org/W2088464970","https://openalex.org/W3135488586","https://openalex.org/W3023047176","https://openalex.org/W2127388073","https://openalex.org/W7098783706","https://openalex.org/W4401205860","https://openalex.org/W2015361474"],"abstract_inverted_index":{"Using":[0],"a":[1,41,79],"restricted":[2],"version":[3],"of":[4,13,16,25,119],"the":[5,14,22,49,59,75,85,94,114,120,130],"BEKK":[6],"model":[7],"it":[8],"is":[9,56,72,111],"tested":[10,58],"an":[11],"implication":[12,51],"theory":[15],"storage":[17],"that":[18,62,74,98],"supply-and-demand":[19,45],"fundamentals":[20,46],"affect":[21],"price":[23,100,108],"dynamics":[24],"agricultural":[26],"commodities.":[27,54,92],"The":[28,117],"commodities":[29],"under":[30],"analysis":[31],"are":[32,123],"corn":[33],"and":[34,87,128],"wheat.":[35],"An":[36],"interest-storage-adjusted-spread":[37,76],"was":[38],"used":[39],"as":[40],"proxy":[42],"variable":[43],"for":[44,52,90],"to":[47,106,134],"test":[48],"aforementioned":[50,121],"both":[53,91,126],"It":[55,71],"also":[57,96],"Samuelson":[60,115],"hypothesis":[61],"spot":[63,86,99],"prices":[64],"have":[65,102],"higher":[66,103],"volatility":[67,104],"than":[68],"futures":[69,88,107],"prices.":[70],"found":[73],"has":[77],"had":[78],"statistically":[80],"significant":[81],"positive":[82],"influence":[83],"on":[84],"returns":[89,101,109],"Likewise,":[93],"results":[95,118],"show":[97],"compared":[105],"which":[110],"consistent":[112,124],"with":[113,125,129],"hypothesis.":[116],"tests":[122],"theories":[127],"existing":[131],"literature":[132],"related":[133],"commodity":[135],"futures.":[136],"JEL":[137],"Classification:":[138],"C22,":[139],"G10,":[140],"Q14.":[141]},"counts_by_year":[{"year":2016,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2012,"cited_by_count":2}],"updated_date":"2026-11-14T11:04:58.165337","created_date":"2016-06-24T00:00:00"}
