The presence of multiple sources of uncertainty complicates hedging decisions. One of these is the output price and its correlation with input prices. The other is how far forward a firm covers its positions. This study analyzes hedging strategies for grain importers as processors. The...

This paper extends the definition of economies of scope to multioutput firms that face an uncertain production environment. Identification of economies of scope in this environment, however, requires separability assumptions on the technology. These identification restrictions are demonstrated...

Agricultural producer groups have stressed for years the need for a disaster title in the farm bill. In the 2008 Farm Bill, the Supplemental Revenue Assistance Program (SURE) was included to address that need. Previously, producers had to convince Washington to fund ad hoc and emergency disaster...

This paper extends the definition of economies of scope to multioutput firms that face an uncertain production environment. Identification of economies of scope in this environment, however, requires separability assumptions on the technology. These identification restrictions are demonstrated...

Agricultural firms that use Value at Risk (VaR) tend to be the large diversified corporations. The benefits of VaR in the agricultural industry are not limited to large conglomerates; however, and this study provides empirical examples of how mid to large sized commodity end-users can use VaR to...

Malt barley is an important specialty crop in the Northern Plains and growers mitigate risk with federally subsidized crop insurance and production contracts. However, growers face considerable risk due to "coverage gaps" in crop insurance that result in uncertain indemnity payments due to...