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Item Harvest-Time Protein Shocks and Price Adjustment in U.S. Wheat Markets(MSU Extension, 2005-06) Goodwin, Barry K.; Smith, Vincent H.Dynamic relationships between three classes of wheat are investigated using threshold VAR models incorporating the effects of protein availability. Changes in the stock of protein are found to generate significant impulse responses in the price of hard red spring wheat and hard red winter wheat but not soft red wheat. These impulse responses to identical changes in protein stocks are larger when the absolute deviations of protein stocks from normal levels are large. Shocks to the prices of individual classes of wheat result in complex impulse responses in the prices of the other wheats. Notably, however, a shock to the price of hard red winter weak appears to result in little or no impulse response in the price of hard spring wheat, though, importantly, the opposite is not true.Item Agricultural Chemical Prices in Canada and the United States: A Case Study of Alberta and Montana(MSU Extension, 2004-12) Smith, Vincent H.; Johnson, James B.Differences in retail prices for similar or identical agricultural chemicals have been a source of controversy in the Prairie Provinces of Canada and the Northern Great Plains States of the United States since the mid-1990s. Such differences may exist because of differing pesticide regulations between the United States and Canada. Different regulations may inhibit trade between the two regions and isolate markets from one another. If this is the case, then regulatory harmonization that allows Canadian and U.S. agricultural producers to purchase agricultural chemicals in Canada or the United States would generally lead to harmonization of agricultural chemical prices.