This .zip file contains graphic files (in .png format) of each chart and graph in the Economic Research Service report "Deconstructing Wheat Price Spikes: 
A Model of Supply and Demand, Financial Speculation, and Commodity Price Comovement, ERR-165, published in April 2014. The content and context of these files is as of the publication 
date of the report. After time, the material may not reflect the current ERS program of work, may be outdated, and/or superseded, so please visit the website to 
obtain the latest information: www.ers.usda.gov. Any reuse of these images should include attribution to "Economic Research Service/USDA."

The following inventory lists each of the files in this folder.


File name			Description
(BoxFig01.png)			Box figure 1a - Average U.S. all-milk price and feed costs
(Box2Fig01.png)			Box figure 2a - Nearby U.S. wheat futures prices in real terms
(Box2Fig02.png)			Box figure 2b - Nearby U.S. wheat futures prices with selected events highlighted 
(Box3Fig01.png)			Box figure 3a - Trading volume for U.S. wheat futures contracts
(Box4Fig01.png)			Box figure 4a - Commodity index trader share of total open interest in CBOT wheat futures market 
(Box4Fig02.png)			Box figure 4b - Commodity index trader share of total open interest in KCBT wheat futures market       
(Fig01.png)			Figure 1 - U.S. and world consumption of wheat for food use   
(Fig02.png)			Figure 2 - U.S. and world consumption of wheat for feed use
(Fig03.png)			Figure 3 - Visual representation of an econometric model relating structural shocks to variables   
(Fig04.png)			Figure 4 - Impulse response functions from structural vector autoregression model of CBOT wheat prices using crude oil as external market
(Fig05.png)			Figure 5 - Impulse response functions from structural vector autoregression model of CBOT wheat prices using GSCI as external market  
(Fig06.png)			Figure 6 - Historical decomposition of CBOT wheat futures prices with crude oil as external market
(Fig07.png)			Figure 7 - Historical decomposition of KCBT wheat futures prices with crude oil as external market
(Fig08.png)			Figure 8 - Historical decomposition of MGEX wheat futures prices with crude oil as external market
(Fig09.png)			Figure 9 - Historical decomposition of CBOT wheat futures prices with GSCI as external market
(Fig10.png)			Figure 10 - Historical decomposition of KCBT wheat futures prices with GSCI as external market
(Fig11.png)			Figure 11 - Historical decomposition of MGEX wheat futures prices with GSCI as external market   
(Fig12.png)			Figure 12 - Counterfactual simulation of CBOT wheat futures prices using crude oil as external market
(Fig13.png)			Figure 13 - Counterfactual simulation of KCBT wheat futures prices using crude oil as external market  
(Fig14.png)			Figure 14 - Counterfactual simulation of MGEX wheat futures prices using crude oil as external market
(Fig15.png)			Figure 15 - Counterfactual simulation of CBOT wheat futures prices using GSCI as external market
(Fig16.png)			Figure 16 - Counterfactual simulation of KCBT wheat futures prices using crude oil as external market
(Fig17.png)			Figure 17 - Counterfactual simulation of MGEX wheat futures prices using GSCI as external market
(FigA1.png)			Figure A1 - Wheat market variables