Global commodity markets, due to major health crises, political tension, sanctions, growing demand, and other global supply and demand factors, are currently particularly unstable. In addition to the macro-environmental factors that drive the prices, agricultural and other commodity markets are becoming more susceptible to the continuously-growing speculation on major commodity exchanges. Therefore, the purpose of this study is to analyze the influence of financial speculation on agricultural and other commodity prices and return volatility. In our study, we use daily returns on wheat, soybean, corn, and oats futures from the Chicago Mercantile Exchange as well as two additional commodities (crude oil and gold) to compare the extent of this effect. To measure this impact, we, besides traditional tools for time-series analysis, apply the threshold autoregressive conditional heteroskedasticity (TGARCH) technique. We also provide a model using dummy variables for the season to determine whether or not financial speculation’s impact on return volatility differs among seasons, as seasonality plays an important role in return dynamics for agriculture. Our study’s findings show that financial speculation, except for the oats market, either has no impact or makes the underlying futures returns less volatile. Therefore, we draw the conclusion that either there is no relationship between the rise in short-run speculation and the volatility of agricultural commodity prices, or the link is at best questionable. Research results provide important implications for the sustainable development of commodity markets, as passive legislation measurers can be seen as more effective ones compared to more strict active ones in order to maintain these markets liquid and capable of distributing price risks for agricultural producers and manufacturers in a challenging economic and geopolitical environment.

This study analyses Lithuanian residents’ willingness to pay (WTP) for the agricultural landscape in Lithuania. Since it is a part of the European Union, the agriculture is supported by the Common Agricultural Policy (CAP). According to CAP, agri-environmental schemes focus on the maintenance and improvement of agricultural landscape. Under these measures, Lithuanian farmers receive payments for the creation of agricultural landscape services. Therefore, understanding the demand of such agricultural landscape services, as received by the society, may help policymakers better allocate the funds. The present study has revealed that Lithuanian residents are concerned about the maintenance and preservation of the agricultural landscape. Moreover, they demand provision of the agricultural landscape services. Application of the contingent valuation method has shown that the median WTP of 23.59 €/year per family for agricultural landscape services, which is influenced by socioeconomic characteristics. The findings of the present study provide quantitative information about the demand for agricultural landscape services, which could be used to improve the agri-environmental policy, substantiating the internalization of positive and negative externalities (e.g., agricultural landscape services) to the performance of farmers.

Scientists and policy makers more often point out that pro-environmental attitudes and behaviour are related to subjective well-being, but there is a lack of deep scientific insights, as well as possible measure analysis, which would promote pro-environmental behaviour but, at the same time, lead to higher subjective well-being. The aim of this study is to investigate the relationship between pro-environmental attitudes, concerns about climate change, and subjective well-being in Central and Eastern European countries. This study employs descriptive statistics and multiple regression analysis to identify subjective well-being predictors in the case of Central and Eastern European countries. This study uses data from European Social Survey (ESS) rounds 4–10, and includes questions on pro-environmental attitudes, climate change cognition, orientation towards materialistic values, and households’ total net income. The conducted research revealed that pro-environmental attitudes were related to higher levels of subjective well-being in different ESS rounds in many Central and Eastern European countries. In addition, there is some evidence that the relationship between pro-environmental attitudes and subjective well-being is weaker among individuals who are more oriented towards materialistic values. According to the results of this study, policy makers should develop policies that not only address environmental problems but also contribute to subjective well-being.

Agricultural activities play an important role in shaping landscape, in particular, in Lithuania, where agricultural land accounts for more than half of the surface land. These landscape services are used by people as public goods, contributing to societal welfare. The aim of this study is to assess the value of agricultural landscape, identifying consumer preferences and willingness to pay for agricultural landscape attributes using the choice experiment (CE) method. The article analyses the agricultural landscape services and attributes the condition of which depends directly on the farming systems and practices applied. Four attributes of agricultural landscape were selected for the research: (i) scenic views; (ii) variety of flora and fauna species, (iii) recreational infrastructure and services, and (iv) objects of cultural heritage. The latent class approach (LCA) was used for analysis of heterogenous preferences among the Lithuanian residents. The findings provided quantitative information related to the demand for agricultural landscape goods, identifying a particular interest for the objects of cultural heritage, in relation to which the willingness to pay is particularly high. It is necessary to understand and analyse the preferences for agricultural landscape services with the purpose of improvement of the agricultural policy measures in order to change the farmers’ performance towards sustainability. The case study offers new empirical arguments for agri-environmental policy development.

Care for nature is becoming one of the most popular topics in the scientific discourse, not only from an environmental perspective, but also in terms of strengthening people’s environmental awareness and implementing sustainable development goals. The knowledge and understanding of rural inhabitants’ attitude towards nature and their pro-environmental behaviors based on socio-economic characteristics have been less studied compared to those of urban inhabitants. The research aim is to determine the rural inhabitants’ socio-economic characteristics that influence their care for nature in Poland and Lithuania. The European Social Survey (ESS) Round 4 (2008) and Round 9 (2018) data were used in the present study. The relationships between the rural residents’ attitudes towards nature and the socio-economic variables were assessed using the chi-square test and Cramer’s V measure. The findings have suggested that the importance of nature as a value in Poland is greater than in Lithuania. Different sets of statistically significant socio-economic variables were identified in the studied countries. The research has confirmed that gender and education play an important role in the attitude towards nature, as women and more educated people tend to care more for the environment.

Motivated by increased agricultural commodity price volatility and surges during the past decade, we investigated whether financial speculation is to blame. The aim of this paper is to build on prior research about to what extent and in which ways financial speculation undermines agricultural commodity prices. In our analysis, we utilized the daily returns on milling wheat, corn, and soybean futures from the Euronext Commodities Paris market (MATIF) as well as the short-term speculation index. To quantify this impact, we apply Granger noncausality tests as well as the GARCH (generalized autoregressive conditional heteroskedasticity) technique. We also propose a model using seasonal dummy variables to examine whether financial speculation has a greater impact on price volatility during more volatile months. According to our results, financial speculation, as an external factor, in most cases has no effect or reduces the volatility of the underlying futures prices. The opposite is observed in the corn market, where volatility has risen in the post-2020 period and has been pushed up even more by speculation in April. However, since the influence on other commodities is limited or nonexistent, more emphasis should be focused on speculation in the European corn futures market or its interdependence with energy markets.