Corn prices synchronized, impacting food policy and economic welfare.
The study analyzed how corn prices in different markets move together over time. By looking at prices from 182 markets in the US, researchers found that some markets tend to have similar price changes. They also discovered that the degree of price movements increased after November 2006 but did not keep rising consistently. Certain markets were identified as potential leaders in setting prices. These findings can help policymakers make better decisions about food and resources. The method used in this study could be applied to analyze prices of other commodities.