{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/87970"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/87970","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"Understanding the price of DDGS","abstract":"This thesis explores the factors that affect the price of dried distillers’ grain with solubles (DDGS) in Iowa. Past studies focused on providing a descriptive analysis of DDGS prices, risk management practices or analyzing regional DDGS price differences. Time series methods are used to investigate the presence of a cointegrating relationship between weekly DDGS prices, soybean meal prices and corn prices in Iowa. The corn and soybean meal prices used in the analysis are spot prices rather than futures prices. When seasonality in the data is controlled for, a cointegrating relationship between the three price series is found and a Vector Error Correction model (VECM). Additionally, weak exogeneity testing shows that corn is weakly exogenous. The cause of this finding may be differences in the ease of storing the three commodities. Granger causality gives insight into the direction of causality between the three price series. Impulse response functions are also included in the analysis. The VECM that is fit to the data also demonstrates value as a forecasting tool at up to four time horizons.","abstract_html":"This thesis explores the factors that affect the price of dried distillers’ grain with solubles (DDGS) in Iowa. Past studies focused on providing a descriptive analysis of DDGS prices, risk management practices or analyzing regional DDGS price differences. Time series methods are used to investigate the presence of a cointegrating relationship between weekly DDGS prices, soybean meal prices and corn prices in Iowa. The corn and soybean meal prices used in the analysis are spot prices rather than futures prices. When seasonality in the data is controlled for, a cointegrating relationship between the three price series is found and a Vector Error Correction model (VECM). Additionally, weak exogeneity testing shows that corn is weakly exogenous. The cause of this finding may be differences in the ease of storing the three commodities. Granger causality gives insight into the direction of causality between the three price series. Impulse response functions are also included in the analysis. The VECM that is fit to the data also demonstrates value as a forecasting tool at up to four time horizons.","abstract_has_math":false,"creators":["Silvestri, Jake R."],"institution":"University of Illinois at Urbana-Champaign","degree_name":"M.S.","degree_level":"Thesis","degree_discipline":"Agricultural & Applied Economics","degree_department":null,"school":null,"contributors":["Irwin, Scott H."],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2015,"date_issued":"2015-09-29T20:37:46Z","date_published":"2015-09-29T20:37:46Z","updated_at":"2026-07-22T22:26:31Z","subjects":["Vector Error Correction model (VECM)","Forecasting","Dried Distiller's Grains with Solubles (DDGS)","Corn","Soybean Meal","Cointegration"],"languages":["en"],"rights":["Copyright 2015 Jake Silvestri"],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"http://hdl.handle.net/2142/87970","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Irwin, Scott H."]},{"key":"dc:creator","label":"Author","values":["Silvestri, Jake R."]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2015-09-29T20:37:46Z","2015-08","2015-06-18","2015-8"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Agricultural & Applied Economics"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Thesis"]},{"key":"thesis:degree_name","label":"Degree Name","values":["M.S."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Vector Error Correction model (VECM)","Forecasting","Dried Distiller's Grains with Solubles (DDGS)","Corn","Soybean Meal","Cointegration"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["en"]},{"key":"dc:rights","label":"Dc Rights","values":["Copyright 2015 Jake Silvestri"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["http://hdl.handle.net/2142/87970"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["This thesis explores the factors that affect the price of dried distillers’ grain with solubles (DDGS) in Iowa. Past studies focused on providing a descriptive analysis of DDGS prices, risk management practices or analyzing regional DDGS price differences. Time series methods are used to investigate the presence of a cointegrating relationship between weekly DDGS prices, soybean meal prices and corn prices in Iowa. The corn and soybean meal prices used in the analysis are spot prices rather than futures prices. When seasonality in the data is controlled for, a cointegrating relationship between the three price series is found and a Vector Error Correction model (VECM). Additionally, weak exogeneity testing shows that corn is weakly exogenous. The cause of this finding may be differences in the ease of storing the three commodities. Granger causality gives insight into the direction of causality between the three price series. Impulse response functions are also included in the analysis. The VECM that is fit to the data also demonstrates value as a forecasting tool at up to four time horizons.","Submission original under an indefinite embargo labeled 'Open Access'. The submission was exported from vireo on 2015-09-29 without embargo terms","The student, Jake Silvestri, accepted the attached license on 2015-06-18 at 11:13.","The student, Jake Silvestri, submitted this Thesis for approval on 2015-06-18 at 11:21.","This Thesis was approved for publication on 2015-06-18 at 14:44.","DSpace SAF Submission Ingestion Package generated from Vireo submission #8292 on 2015-09-29 at 13:21:34","Made available in DSpace on 2015-09-29T20:37:46Z (GMT). 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The corn and soybean meal prices used in the analysis are spot prices rather than futures prices. When seasonality in the data is controlled for, a cointegrating relationship between the three price series is found and a Vector Error Correction model (VECM). Additionally, weak exogeneity testing shows that corn is weakly exogenous. The cause of this finding may be differences in the ease of storing the three commodities. Granger causality gives insight into the direction of causality between the three price series. Impulse response functions are also included in the analysis. The VECM that is fit to the data also demonstrates value as a forecasting tool at up to four time horizons.","Submission original under an indefinite embargo labeled 'Open Access'. The submission was exported from vireo on 2015-09-29 without embargo terms","The student, Jake Silvestri, accepted the attached license on 2015-06-18 at 11:13.","The student, Jake Silvestri, submitted this Thesis for approval on 2015-06-18 at 11:21.","This Thesis was approved for publication on 2015-06-18 at 14:44.","DSpace SAF Submission Ingestion Package generated from Vireo submission #8292 on 2015-09-29 at 13:21:34","Made available in DSpace on 2015-09-29T20:37:46Z (GMT). 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