HOW EFFICIENT IS THE ROUGH RICE FUTURES MARKET?
Linwood A. Hoffman, Hoffman, Linwood A.
Abstract
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Linwood A. Hoffman, Hoffman, Linwood A.
Abstract
Open-access reader
Efficiency of the rough rice futures market is analyzed relative to the Arkansas cash market. Market activity is examined and various efficiency tests are performed. Inefficiencies were found in beginning or low volume contracts, but some market efficiency criteria improved with time and greater contract volume.
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Efficiency of the rough rice futures market is analyzed relative to the Arkansas cash market. Market activity is examined and various efficiency tests are performed. Inefficiencies were found in beginning or low volume contracts, but some market efficiency criteria improved with time and greater contract volume.
Key concepts: Futures contract, Futures market, Market efficiency, Cash, Volume (thermodynamics), Forward market, Business, Financial economics