Testing for asymmetric cointegration of Italian agricultural commodities prices: Evidence from the futures-spot market relationship

The volatility of food prices still raises concerns among agricultural market players, increasing interest in the futures markets, thus calling for a better understanding connection between and Italian spot prices. This study uses symmetric asymmetric vector error correction models to investigate relationship markets soybean, corn, milling wheat. results confirm leading role contract all considered commodities. Moreover, non-linear cointegration analysis suggest price transmission's asymmetries commodity research provides critical insight into shape futures-spot transmission.