An analysis of wheat price growth rates at América

Resumen

The present work sought to analyze the behavior of wheat price growth rates in the world market. For this purpose, monthly information of prices in the markets of Brazil, Argentina and the United States was used. To estimate the growth rate of wheat prices, the methodologies proposed by Perron and Yabu (2009a, 2009b) were adopted, which consist of estimating the deterministic trend in a context where the noise component can be integrated or stationary, and is dedicated to test if there is a structural change in the growth rate of wheat prices. The results showed that in all the analyzed markets, the growth rates of wheat prices were constant.