Long term market stability analysis in wheat prices in Turkey

In this study, between wheat commodity exchanges' long-term market stability in 11 years from January 2005 to December 2015 has been analyzed. For the detection of co-integration between commodity exchanges in that Anatolian Red Hard Wheat, Anatolian White Semi-Hard Wheat and Anatolia Durum Wheat species were traded in in the current time frame, prices series were analyzed by Lumsdaine and Papell (1997) Unit Root Test and Johansen et al. (2000) Cointegration Test.According to the analysis results, identified that there were structural breaks and at least one co-ordinating vector exists between the commodity exchanges prices series. This indication show that the price interaction between wheat commodity exchanges in the long run is strong. It is important that long-term interaction is strong for the pre-determination of wheat prices