Emerging IP Markets: The Tokyo Grain Exchange Non-GMO Soybean Contract
Abstract
This research provides an overview of the development of the Tokyo Grain Exchange non-GMO soybean contract as an identity preserved futures contract. The development of this contract is unique, relative to the development of other new futures contracts, in that a mature conventional soybean futures contract exists. Particular attention is given to necessary conditions for development of a new futures contract. In evaluating these conditions it was determined that since inception of the Tokyo Grain Exchange non-GMO soybean futures contract, the contract functions like a mature futures contract. This is unique in comparison to results of other studies evaluating the development of futures contracts. Furthermore, the lack of a well defined and liquid cash non-GMO soybean market does not appear to hamper the development of the non-GMO futures contract.
Citation
Joe L. Parcell, "Emerging IP Markets: The Tokyo Grain Exchange Non-GMO Soybean Contract," Department of Agricultural Economics Working Paper No. AEWP 2002-8, May 2002.