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The purpose of this paper is to investigate the long‐term and short‐term asymmetric effects of the price transmission relationships between agricultural futures and the agriculture index in China.

The paper adopts a threshold autoregressive (TAR) model and momentum‐TAR (M‐TAR) model that test the prices of futures and spots in the special trading system.

The paper indicates that during different stages of the economic cycle, agricultural futures and the agriculture index exhibit different correlations. During the initial stages of economic upturns and downturns, the addition of futures of agricultural products helps to diversify risk. In contrast, during the late stages of economic upturns and downturns, such additions do not really help to diversify risk. Soybean meal futures and the agriculture index are more strongly correlated with each other. If investors use soybean meal futures to predict the trends in the agriculture index, they will obtain more accurate conclusions.

The soybean futures have leading effects in a single range and a lower correlation with the agriculture index. This paper provides a point of reference for investors devising investment strategies and for the Chinese Government in its execution of macro‐control policies. It provides a clear review about the estimation methods. It also provides information about China's soybean, soy meal industry.

The paper contains updated information about China's soybean and soybean meal trading. It uses new estimation methods (TAR, M‐TAR) to examine the co‐integration between soybean, soybean meal and the agricultural index.

The purpose of the present study was to plan with the objectives to optimize and find out the best level of texturized protein from sunflower, soybean and flaxseed on the basis of quality and overall acceptability of the cookies.

Defatted meal from sunflower, soybean and flaxseed was texturized using extruder. Texturized defatted meal of sunflower, soybean and flaxseed was blended at 10, 20, 30 and 40 per cent levels with wheat flour for making cookies using standard procedure.

Functional properties such as water absorption index, foaming capacity and protein digestibility were increased, while water solubility index and fat absorption capacity decreased with increased levels of texturized defatted meal in wheat flour. Spread ratio, sensory, colour and overall acceptability of cookies were negatively affected when level of texturized flour increased as compared with the control. The force required for breaking cookies decreased with increased level of texturized defatted meal of sunflower, soybean and flaxseed incorporation. Cookies with 10 per cent texturized sunflower, soybean and flaxseed flour received the highest sensory scores. The result showed that texturized defatted meals serve as good substitute to wheat flour with increased protein content in cookies production and utilization.

The study demonstrated that deoiled cake, a byproduct obtained from sunflower, soybean and flaxseed oil industry, offers great potential for supplementation of proteins in food products.

The purpose of this paper is to estimate China's demand for imported soybeans and soybean oil from both country‐of‐origin and product form perspectives.

A differential production approach is used to estimate China's demand for imported soybeans and soybean oil. The empirical demand estimates are then used to derive conditional and unconditional elasticities of demand for each exporting country with respect to changes in domestic and import prices, and the price of resources used in soybean meal and oil production.

Results indicate that both country‐of‐origin and product form competition exist in the Chinese market. Estimation results indicate that China's soybean meal prices significantly impacted its soybean and soybean oil imports. Seasonality is detected in China's soybean imports, but not in soybean oil imports.

The findings suggest that, in addition to country‐of‐origin competition, product form competition should be considered when analyzing China's soybean demand.

This paper contributes to a better understanding of China's soybean import market by integrating both country‐of‐origin competition and product form competition into a single demand framework.

The purpose of this paper is to investigate the implications of the China’s rising meat demand and industrialization of the livestock sector for the vegetable oil market.

An equilibrium displacement model is constructed to analyze the interactions between meat consumption and vegetable oil market through the development of livestock sector modernization. Parameters derived from the 2006 to 2009 data are first used to produce the counterfactual growth rate of the non-soybean vegetable oil to validate the model. Then the authors use the second set of parameters derived from the 2010 to 2013 data to forecast the changes in the vegetable oil market in China.

Soybean oil, as a co-product of soybean processing, tends to crowd out other vegetable oils. In particular, the authors find that the market for non-soybean vegetable oils may shrink as long as the rapid industrialization pace above 10 percent within China’s livestock sector continues. Although their production takes up only 8.5 percent of all agricultural lands in China, oil crops remain as important cash crops for farmers contributing over 10 percent to the overall farm income in some provinces. The authors’ analysis suggests that stakeholders in these regions should closely monitor the structural changes within the livestock sector and consider the information for crop selection.

The authors’ analysis contributes to the literature on China’s meat demand by highlighting its implications for other agricultural markets involved in the food system.

The purpose of this paper is to investigate isoflavone aglycone concentrations in commercial soybean and soybean products in Taiwan.

Isoflavone concentration was determined by high performance liquid chromatography method. The samples included soybeans, non‐fermented (tofu, soymilk, soybean meal) and fermented (natto, miso and sufu) soybean products.

The total isoflavone concentration in soybean and soybean products was approximately 109‐508 mg/100 g. Isoflavone aglycones had the concentration of 2‐19 per cent of total isoflavones in soybeans and non‐fermented soybean products. There was a broad diversity of isoflavone aglycones at 4‐94 per cent of total isoflavones in fermented soybeans.

The study provides new information about distribution of bioactive isoflavone aglycones in soybean and soybean products. Isoflavone glucosides were the major components in all soybean and non‐fermented products, while isoflavone aglycones were abundant in sufu and partially in miso of soybean fermented products. The information should be used to establish that positive consumption of bioactive aglycones isoflavones may be more efficient for improving the physiological functions for human health.

This study explores the price linkage between the Chinese commodity futures market and other dominant futures markets, and examines the forces behind the price linkages. The contribution by the trading hour innovations in the United States (or United Kingdom) market to the overnight price changes in the Chinese market is larger in scale than the contribution by the daytime information from the Chinese market to the overnight returns of the corresponding US (or UK) market. Several futures have significant interactions of the domestic and foreign factors in the price linkages while the Chinese domestic factors explain better the global market price linkage in some futures (aluminum, gold, and corn), demonstrating the leading role of the Chinese futures markets in these world markets.

The purpose of this paper is to examine the volatility spillover and lead-lag relationship between the Chicago Board Options Exchange volatility index (VIX) and the major agricultural future markets before and during the Coronavirus disease 2019 (COVID-19) outbreak.

The methods used were the vector autoregression-Baba, Engle, Kraft and Kroner-generalized autoregressive conditional heteroskedasticity method, the Wald test and wavelet transform method.

The findings indicate that prior to the COVID-19 outbreak, there was a two-way volatility spillover impact between the majority of the sample markets. In comparison, volatility transmission between the VIX index and the agricultural future market was significantly lower following the COVID-19 outbreak, the authors observed greater coherence at higher frequencies than at lower frequencies, implying that the interdependence between the two VIX indices and the agricultural future market was stronger over a longer time-frequency domain and the VIX’s signalling effect on various agricultural future prices after the COVID-19 outbreak was significantly lower.

The authors conducted the first comprehensive investigation of the VIX’s correlation with major agricultural futures, especially during COVID-19. The findings contribute to a better understanding of the risk transmission mechanism between the VIX and major agricultural commodities futures contracts. And our findings have significant implications for investors and portfolio managers, as well as for policymakers who are concerned about the price of agricultural futures.

The purpose of this paper is to study the resilience and elastic properties of short pastry with the meals of soy, sunflower and milk thistle.

Recent studies in the emerging food technologies of short pastry with use of meals were considered. Their focus on the improvement of the functional peculiarities of short pastry and benefits for people were the defining characteristics of the studies.

Model food compositions have been developed from soybean meal, sunflower meal and milk thistle for adding them to semi-finished short pastry products. The technology of short pastry confectionery made from short pastry with oilseed meal has been scientifically substantiated and developed. The chemical composition of shortbread cookies with the use of oilseed meal was calculated. The developed technology increased protein content by 2.5 times, cellulose content – by six times, significantly increased mineralization in the developed confectionery products. The content of calcium increased by 172.9 mg, selenium – by 13.06 mcg, iodine – by 2.76 mcg and vitamin E by 2.4 mg.

The developed technology of short pastry with a model composition of the meal can be used in practice. The use of a meal composition is a promising direction to improve the brittleness of short pastry products. The developed pastry products made from short pastry with added meal can be introduced into catering establishments as functional products with improved biological value.

Developed pastry products can be used as functional products with improved biological value, which is important for people’s health and has positive effects on the human body.

The use of meals of soy, sunflower and milk thistle in short pastry increases its nutritional and biological value, which improves the impact on the human body. The developed pastry products can be introduced as functional products with improved biological value, which is important for the improvement of people’s health in different countries of the world.

The purpose of this paper is to quantitatively analyse the changes in the functional efficiency of the six Chinese agricultural futures markets and compare the relative behaviour of different futures markets. In addition, this paper analyses the causes of differences in the functional efficiency of agricultural futures markets and advances policy suggestions.

The method used in this paper is the social loss index proposed by Stein (1981, 1986). This method can quantitatively measure the functional efficiency of agricultural futures markets from the perspective of social welfare. The indicator is calculated for the 2009–2017 period and for several sub-periods. The data are from the CSMAR research data services in China.

Preliminary results suggest that the longer it takes for an agricultural futures contract to reach maturity, the lower the functional efficiency of its market. Second, the functional efficiency of the agricultural futures markets in China is improved except for that of the wheat futures market. Finally, the corn futures market is most efficient probably due to the progress of marketization, while the strong wheat futures market is most inefficient probably due to the decrease in futures market liquidity.

This paper uses a more reasonable method to study the functional efficiency of Chinese agricultural futures markets and then analyses the causes of differences in the functional efficiency of agricultural futures markets.

There is much to justify the old “ saw ” that what is one man's food may be another man's poison. Even among healthy individuals this holds true; and it is explained by a peculiarity of constitution attaching to some individuals that may be termed, in non‐technical language, idiosyncrasy.