Development of genetically modified (GM) crops is challenging the functions of the grain marketing system. A stochastic optimization model was developed in this study to determine optimal testing strategies. The model chooses the optimal testing strategy that maximizes utility (minimizes...

Variety release decisions usually involve trade-offs between growers and end-users as well as substantial uncertainties about agronomic, quality, and economic variables. In this paper, methodologies were developed to value grower and end-user characteristics for individual wheat varieties and to...

Fusarium Head Blight is a fungus affecting wheat and barley in the upper Midwest region of the United States. The purpose of this study is to estimate the direct and secondary regional economic impacts of Fusarium Head Blight infestations from 1998 to 2000. Cumulative direct production and price...

Ethanol expansion has the prospect of having major impacts on cropping patterns and the spatial distribution of grain flows. These changes are in addition to those being driven by developments elsewhere in the world grain economy, including growth in consumption (e.g., China) and production in...

This case study applies value-at-risk methods to a bread baking company to illustrate how it can be used by a commodity processor in reporting risk, evaluating risk reduction alternatives, and setting risk limits. Results indicate that value-at-risk can be a useful tool for managing the price...