Construction of Grain Price Determinants Analysis Model Based on Structural Vector Autoregressive Model

Figure 1

The price fluctuations of the four major staple grains in the international market from 1992 to 2019. Following IMF, the authors select the FOB price of US No. 1 hard red winter wheat Gulf of Mexico, the US No. 2 yellow corn in the Gulf of Mexico, 5 percent broken milled white rice from Thailand, and the No. 2 soybean futures contract price of the Chicago Board of Trade in the United States. Unit: USD/ton.