Empirical Study On The Impact Of USDA Report To The Futures Price Of Agricultural Products

The USDA report is the most comprehensive, timely and authoritative report thatcontains every aspect about global agriculture production, processing, marketing anddemand outlook. Every release of the report can have significant and profound influence onthe Agricultural products price based on the CBOT.However, there exists the view of “objectivism” and some questions about the“conspiracy theories” that the USDA damages other countries’ interests by releasing thereport to influence the price of agricultural products futures in CBOT. For this reason, on thebasis of unscrambling the USDA report and analyzing the influencing factor of the price ofagricultural products futures in CBOT, this article explore the relation between the price ofagricultural products futures and the data in USDA report with Johansen cointegration testmodel and VEC test model in view of empirical research.On this basis, this article put forward some suggestions to government agencies,corporations and individuals according to empirical research findings.