Scaling and multiscaling properties in China’s corn futures price system

In this paper, based on the time series of China’s corn futures prices, by introducing R/S analysis and multi-affine function to explore empirically the price dynamics and behaviors in corn futures prices, we investigate the scaling and multiscaling properties in the price system and analyze the price behaviors especially the system memory mechanism of historical information, thus we analyze numerically the long-term memory mechanism in the system; furthermore, we find nontrivial fractal features and multi-affine spectra in the price system. All numerical results support that there exist scaling/multiscaling properties and long-term memory in the price system.