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Olga Isengildina Massa

Associate Professor
Isengildina-Massa
321-A Hutcheson Hall
250 Drillfield Drive
Blacksburg, VA
24061

Expertise:

Education

Ph.D., Mississippi State University, Agricultural Economics, Finance minor, 2000

M.S., Mississippi State University, Agricultural Economics, 1996

B.A., Tashkent State University, English Philology, 1993

Overview

My research evaluates market and price analysis issues, implements advanced forecasting and modeling approaches, and demonstrates agribusiness and risk management applications of these findings.  I use innovative teaching methods in my classes and though the experimental learning program Commodity Investing by Students (COINS), which enables students to gain hands-on experience in trading and investing in commodity markets.  I engage my students in research projects that generate valuable commodity marketing information for Virginia agribusiness. Overall, my program  focuses on the following aspects of agricultural commodity markets

·         Commodity Price Analysis, Forecasting and Forecast Evaluation

·         The Impact of Information on Commodity Markets

·         Commodity Price Risk Management

·         Commodity Market Education

·         Commodity Promotion Program Evaluation

·         E-Commerce Approaches to Commodity Marketing

Current research projects include:

  1. Isengildina Massa, O, S. Thornsbury and J. Gillespie. “Enhancing the Quality, Communication, and Sustainability of the Commodity Outlook Program.”
  2. Isengildina Massa, O., B. Karali, T. Kuethe and A. Katchova. “Joint Evaluation of the System of USDA’s Farm Income Forecasts.” 
  3. O. Isengildina-Massa, B. Karali, S.H. Irwin, M. Adjemian and R. Johansson. “When Does USDA Information Have the Most Impact on Crop and Livestock Markets?”
  4. Isengildina-Massa, O., B. Karali, S.H. Irwin. “Can Private Analysts Beat USDA? Analysis of Relative Accuracy of Crop Acreage and Production Forecasts.”
  5. Neff, T. and O. Isengildina-Massa. “How Well Do Commodity Based ETFs Track Underlying Assets?”
  6. Shi, R. and O. Isengildina-Massa. “Double-Edged Sword: Liquidity implications of Futures Hedging.”
  7. Wang, Y., C. Kuhler, and O. Isengildina-Massa.  “Economic Implications of Conventional and Grass-Finished Cattle Forage Systems.”
  8. Wang, Y., and O. Isengildina-Massa.  “Grass-Fed Beef Premiums.”

Courses taught at Virginia Tech

AAEC 4434 Commodity Investing by Students

AAEC 4504/5504 Commodity Price Analysis

AAEC 3514 Agricultural Futures and Options

AAEC 4424 Agricultural Financial Management

Courses taught elsewhere

Managerial Economics

Economics for Managers

Principles of Microeconomics

Commodity Price Analysis

Financial Economics

Commodity Futures

Futures and Options Markets

Experience

  • Associate Professor in the Department of Agricultural and Applied Economics, Virginia Tech, 2015 - Present
  • Adjunct Associate Professor in the School of Agricultural, Forest and Environmental Sciences, Clemson University, 2013 - Present
  • Associate Clinical Professor in the Department of Economics, University of Texas at Arlington, 2012 - 2015
  • Associate Professor in the John E. Walker Department of Economics, Clemson University, 2012 - 2013
  • Assistant Professor in the John E. Walker Department of Economics, Clemson University, 2011 - 2012
  • Assistant Professor in the Department of Applied Economics and Statistics, Clemson University, 2006 - 2011
  • Visiting Scholar in the Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, 2001 - 2006
  • Post-Doctoral Research Associate in the Department of Agricultural and Applied Economics, University of Georgia, 2000 - 2001

Selected Awards

Third Place, Southern Economics Association Poster Competition, February 2013.

Journal of Agricultural and Resource Economics, Outstanding Reviewer Award, 2012.

Clemson University College of Business and Behavioral Science, Graduate Teaching Excellence Award, 2011-2012.

Commodity Price Analysis, Forecasting and Forecast Evaluation

  1. Isengildina-Massa, O., Berna Karali and Scott H. Irwin. “Do Markets Correct for Smoothing in USDA Crop Production Forecasts? Evidence from Private Analysts and Futures Prices.” Applied Economic Perspectives and Policy, 39, 4 (December 2017): 559-583.
  2. Xie, R., O. Isengildina-Massa, and J. Sharp. “Can Rationality of USDA’s Fixed-Event Crop Forecasts Be Improved?” Advances in Business and Management Forecasting, 11(2016):117-146.
  3. Isengildina, O., B. Karali, S.H. Irwin. “When do the USDA Forecasters Make Mistakes?” Applied Economics, Vol. 45 (2013), No. 36, 5086–5103.
  4. Isengildina, O., S.H. Irwin, and D.L. Good.  “Do Big Crops Get Bigger and Small Crops Get Smaller?  Further Evidence on Smoothing in USDA Production Forecasts.”  Journal of Agricultural and Applied Economics, 45(1) (February 2013): 95-107.
  5. Isengildina-Massa, O. and J.L. Sharp. "Evaluation of USDA Interval Forecasts Revisited:  Asymmetry and Accuracy of Corn, Soybean, and Wheat Prices" Agribusiness: An International Journal, 28(3) (Summer 2012): 310-323.
  6. Isengildina-Massa, O., S. MacDonald and R. Xie. “Comprehensive Evaluation of USDA Cotton Forecasts.” Journal of Agricultural and Resource Economics, 37(1) (April 2012): 98-113.
  7. Isengildina-Massa, O., S.H. Irwin, D.L. Good and L. Massa.  "Empirical Confidence Intervals for WASDE Forecasts of Corn, Soybean, and Wheat Prices." Applied Economics, 43 (2011): 3789-3803.
  8. Isengildina, O., S.H. Irwin, D.L. Good.  “Quantile Regression Methods of Estimating Confidence Intervals for WASDE Price Forecasts.” Journal of Agricultural and Resource Economics, 35 (3) (2010): 545-567.
  9. Isengildina, O., S.H. Irwin, D.L. Good.  “Are Revisions to USDA Crop Production Forecasts Smoothed?”  American Journal of Agricultural Economics, 88(4) (November 2006):1091-1104.
  10. Isengildina, O., S.H. Irwin, and D.L. Good.  “Evaluation of USDA Interval Forecasts of Corn and Soybean Prices.”  American Journal of Agricultural Economics 84(4) (November 2004):990-1004.
  11. Isengildina-Massa, O. "What to expect from the next USDA Prospective Plantings Report?farmdoc daily (7):58, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, March 30, 2017.
  12. Isengildina-Massa, O. "What Do Prospective Plantings Tell Us About Planted Acreage?farmdoc daily (6):59, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, March 25, 2016. 
  13. Isengildina-Massa, O., and S. MacDonald.  “Forecasting U.S. Cotton Prices in a Changing Market.” Advances in Business and Management Forecasting 9(2013):91-113.

The Impact of Information on Commodity Prices

  1. Karali, B., Scott H. Irwin and O. Isengildina-Massa. “Supply Fundamentals and Grain Futures Price Movements.”  American Journal of Agricultural Economics (in press).
  2. Karali, B., O. Isengildina-Massa, S.H. Irwin, M.K. Adjemian, and R. Johansson. 2019. “Are USDA Reports Still News to Changing Crop Markets?” Food Policy 84:66-76.
  3. Karali, B., O. Isengildina-Massa and Scott H. Irwin. “The Changing Role of USDA Inventory Reports in Livestock Markets.”  Journal of Agricultural and Resource Economics 44(3):591-604).
  4. Xie, R., O. Isengildina-Massa, J. Sharp, and J. Dwyer. “The Impact of Public and Semi-Public Information on Cotton Futures Markets.” Applied Economics, 48:36(2016):3416-3431.
  5. Isengildina-Massa, O., S.H. Irwin, D.L. Good, and J.K. Gomez.  “The Impact of WASDE Reports on Implied Volatility in Corn and Soybean Markets.” Agribusiness: An International Journal, 24(4) (Autumn 2008):473-490.
  6. Isengildina-Massa, O., S.H. Irwin, D.L. Good, and J.K. Gomez.  “The Impact of Situation and Outlook Information in Corn and Soybean Futures Markets: Evidence from WASDE Reports.” Journal of Agricultural and Applied Economics, 40 (1) (April 2008): 89-104.
  7. Isengildina, O., S.H. Irwin, and D.L. Good.  “The Value of USDA Situation and Outlook Information in Livestock and Hogs Markets.” Journal of Agricultural and Resource Economics, 31(2) (August 2006):262-282.

Commodity Price Risk Management

  1. Pennings, J.M.E., O. Isengildina-Massa, S.H. Irwin, P. Garcia, D.L. Good.  “Producers’ Complex Risk Management Choices." Agribusiness: An International Journal, 24(1) (Winter 2008):31-54.
  2. Isengildina, O., J.M.E. Pennings, S.H. Irwin, D.L. Good.  “Crop Farmer’s Use of Market Advisory Services.” Journal of International Food and Agribusiness Marketing, 18(3) (2006):67-86.
  3. Pennings, J.M.E., O. Isengildina, S.H. Irwin, and D.L. Good.  “Heterogeneity in the Likelihood of Market Advisory Service Use by U.S. Crop Producers,” Agribusiness: An International Journal 21(1) (Winter 2005):109-128.
  4. Pennings, J.M.E., O. Isengildina, S.H. Irwin, and D.L. Good.  “The Impact of Market Advisory Service Recommendations on Producers’ Marketing Decisions.”  Journal of Agricultural and Resource Economics 29(2) (August 2004):308-327.
  5. Isengildina, O., and M. D. Hudson.  “Cotton Producers’ Use of Selected Marketing Strategies.”  Journal of Cotton Science 5(2001):206-217.

Commodity Market Education

  1. Isengildina-Massa, O. and A.F. Ramsey. “Student-Managed Commodity Fund.  A New Frontier in Experiential Learning.” Journal of Agricultural and Applied Economics (in press).

Commodity Promotion Program Evaluation

  1. Carpio, C.E., and O. Isengildina-Massa.  “Does Government Sponsored Advertising Increase Social Welfare? A Theoretical and Empirical Investigation.”  Applied Economic Perspectives and Policy, 38:2(2016):239-259.
  2. Hughes, D.W., and O. Isengildina-Massa. “Keeping Dollars Home: The Economic Impact of the Farmers’ Markets and the South Carolina Locally Grown Campaign.” Food Policy, 24 (July 2015): 78-84.
  3. Xie, R., O. Isengildina-Massa, and C.E. Carpio. “The Biggest Bang for your Buck: Disentangling the Impacts of Various Components of Government Funded Advertising on Participating Restaurants.” Journal of Agricultural and Applied Economics, 46 (2) (May 2014): 193-208.
  4. Carpio, C.E., and Isengildina, O. “To Fund or Not to Fund: Assessment of the Potential Impact of a Regional Promotion Campaign.”  Journal of Agricultural and Resource Economics, 35(2) (2010): 245-260.
  5. Carpio, C.E., and Isengildina, O.  “Willingness to Pay for Locally Grown Products: The Case of State Grown Products in South Carolina.”  Agribusiness: An International Journal, 25(3) (2009): 412-426.

E-Commerce Approaches to Commodity Marketing

  1. Zapata, S.D., O. Isengildina-Massa, C.E. Carpio, and R.D. Lamie “Does E-Commerce Help Farmers’ Markets? Measuring the Impact of MarketMaker.” Journal of Food Distribution Society, 47:2(2016)1-18.
  2. Zapata, S.D., C.E. Carpio, O. Isengildina-Massa, and R.D. Lamie “Producers’ Willingness to Pay for the Services Provided by an Electronic Trade Platform: The Case of MarketMaker.” Journal of Agricultural and Resource Economics, 38(3) (December 2013): 359-378.
  3. Zapata, S., C.E. Carpio, O. Isengildina-Massa and D. Lamie, D. "Do Internet-Based Promotion Efforts Work?  Evaluating MarketMaker.” Journal of Agribusiness, 29 (1) (2011): 159-180.
  4. Carpio, C.E., O. Isengildina-Massa, R. D. Lamie, and S.D. Zapata. “Does E-Commerce Help Agricultural Markets? The Case of MarketMaker.” Choices, 4th Quarter 2013.
  5. Zapata, S., D. Lamie, D., C.E. Carpio, and O. Isengildina-Massa. “Evaluating the Impact of an Electronic Food Marketing Network.” Research Update. Journal of Food Distribution Research, 41(1) (2010):131.