Análise do preço do milho nos mercados externo e interno

Abstract

The objective of this paper is to analyze the relationship between the international and domestic corn market in the period from January 1996 to July 2006. Stationarity, Granger causality and co-integration tests were performed to the corn price series. Granger test suggest a unidirectional relationship between international price and the price received by farmers, that is, international price cause domestic prices. The results indicate that the price series are co-integrated and, therefore, they have a long run relationship. The error correction model suggests the short run changes in international prices are slowly transmitted to the domestic price.