Structural change in the U.S. soybean and soybean products markets: a systematic varying coefficient simultaneous system approach

Abstract

The soybean industry is an interesting area for investiga- It is extremely complex and has been changing rather t ion. dramatically over the last 10 to 15 years. There exists a high degree of interaction among the markets for soybeans, oil and soybean meal. soybean Recent shocks and changes in the world economic environment have impacted substantially on the industry altering the demand for its products and even changing the participants and their roles in the marketplace.