ESTIMATION OF MARKET POWER IN THE U.S. SOYBEAN EXPORT MARKETS
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Soybean exports are crucial for the survival of the U.S. soybean industry. Price flexibility of the U.S. reversed residual supply function is used to test the market power in U.S. soybean export markets. Results indicated that the market power of the U.S. soybean export markets is highly sensitive to the U.S. exporters' transaction costs.