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Recently Published Journal Articles (View All Articles)

The Impact of Financialization on the Efficiency of Commodity Futures Markets. Journal of Commodity Markets 31(2023), article 100330.

Price Connectedness in U.S. Ethanol Terminal Markets. Energy Economics 124(2023), article 106759.

Do Extreme CIT Position Changes Move Prices in Grain Futures Markets? Journal of Agricultural and Applied Economics 54(2023): 792-814.

The Order Flow Cost of Index Rolling in Commodity Futures Markets. Applied Economic Perspectives and Policy, 45(2023): 1025–1050.

New Evidence on Microstructure Noise and Public Announcements. European Journal of Operations Research 298(2022):785-800.

To Batch or not Batch?  The Release of USDA Crop Reports. Agricultural Economics 53(2022):143-154.

Sunshine vs. Predatory Trading Effects in Commodity Futures Markets: New Evidence from Index Rebalancing. Journal of Commodity Markets 26(2022), article 100195.

Biodiesel Hedging under Binding Renewable Fuel Standard Mandates. Energy Economics 96(2021), article 105160.

When Does USDA Information Have the Most Impact on Crop and Livestock Markets? Journal of Commodity Markets 22(2021), article 100137.

Working Papers

What Do We Know About the Value and Market Impact of USDA Reports? (June 2023)

Revisiting Biodiesel Hedging (November 2022)

The Bias of Simple Bid-Ask Spread Estimators (October 2022)

Latest Weekend Reading on Twitter (View All Threads)


Searchable Database for Studies on the Accuracy and Market Impact of USDA Crop Reports (January 2023), Project for the National Corn Growers Association

What Do We Know about the Accuracy and Market Impact of USDA Crop Reports in the Corn Market? (January 2023), Report for the National Corn Growers Association

The Price of Biodiesel RINs and Economic Fundamentals (December 2018) NBER Working paper No. 25341

Futures Market Regulation (March 2018) American Enterprise Institute series on Agricultural Policy in Disarray: Reforming the Farm Bill

FaKe Beamer Powerpoint template (Jan 2018)

Latin Modern Roman fonts and Latin Modern Math font (Jan 2018)

Letter in Response to Wall Street Journal Op-Ed “Ethanol Hostages on Capitol Hill (Dec 2017)

Scott Irwin Answers Kocieniewski (Jan 2014) Guest blog post at Streetwise Professor

December 2013 NYT article and Links to Responses (Feb 2014)

Solving the Commodity Markets’ Non-Convergence Puzzle (August 2013) Amber Waves

Bubbles, Food Prices, and Speculation: Evidence from the CFTC’s Daily Large Trader Data Files (May 2013) NBER Working paper No. 19065

Blaming Energy Futures for Energy’s Current Costs (May 2012) Op-Ed in The Washington Times

The Impact of Index and Swap Funds on Commodity Futures Markets: Preliminary Results (Jun 2010) OECD Working Paper

The Impact of Index and Swap Funds in Commodity Futures Markets (Jun 2010) OECD Technical Report

Index Funds and Commodity Prices… Here We Go Again (Jul 2009) Guest blog post at Econbrowser

Comments on Permanent Senate Subcommittee on Investigations Report “Excessive Speculation in the Wheat Market” (Jul 2009)

Market Instability in a New Era of Corn, Soybean, and Wheat Prices (Apr 2009) Choices, 1st Quarter 2009, 24(1)

The Misadventures of Mr. Masters: Act II (Sep 2008) Guest blog post at Econbrowser

Futures Imperfect (Jul 2008) Op-Ed in the New York Times

Is Speculation by Long-Only Index Funds Harmful to Commodity Markets? (Jul 2008) Testimony Prepared for the U.S. House of Representatives Committee on Agriculture

Recent Convergence Performance of CBOT Corn, Soybean, and Wheat Futures Contracts (Jul 2008) Choices, 2nd Quarter 2008, 23(2)

Recent Delivery Performance of CBOT Corn, Soybean, and Wheat Futures Contracts (Apr 2008) Statement to the CFTC Agricultural Forum

Commodity Arbitrage (Apr 2008) Guest blog post at Econbrowser

The Performance of Chicago Board of Trade Corn, Soybean, and Wheat Futures Contracts after Recent Changes in Speculative Limits (May 2007)

farmdoc Publication Series

AgMAS Reports (1997 – 2012)

Marketing & Outlook Briefs (2007 – 2011)

Marketing & Outlook Research Reports (2008 – 2014)