摘要：This study aims to examine if the most recent changes in the Brazilian corn and soybean production have caused
significant changes in prices and volatility transmission between Brazilian and U.S. markets. In addition to using
econometric time-series methods tests to analyze price transmission among grain and oilseeds markets, we investigated
the volatility spillover across U.S. and Brazil markets using causality in variance tests. Since structural break tests
indicated the presence of one breakpoint, the sample was split in two periods: 1996-2006 and 2007-2014. Results
suggest that the level of market integration has increased during the second period (2007-2014) with higher sensibility
to price changes compared to the first period (1996-2006).
