The Geographic Extent of the Market for Soybeans and Soybean Products

This study looks at the question of whether soybeans, soybean meal, and soybean oil produced in the United States and exported were part of a single, world geographic market during the decade of the 1980s. An answer to this question is sought using an approach to defining a geographic market based on the notion of instantaneous causality. The empirical results suggest that there was but a single identifiable world market for these commodities over the period of study.