The value of the timing option implicit in CBOT corn futures contract is estimated. Separate estimates are obtained for the option without and with convenience yield. The effect of the option on basis behavior at day one of the maturity month is examined and is found statistically significant.

Forecasts of global crop yields prior to planting have generally been single values, based on entirely past trends. Regression analysis testing a combination of data from ENSO (El Nino/Southern Oscillation) and ARMA models suggests that yield forecasting errors can be reduced, generating more...

Several reasons justify the expectation of increasingly price elastic demand for dairy products. Using weekly scanner data, we find support for this hypotheses, but with wide variation in elasticity estimates across model specifications. The results demonstrate the need for more routine...

A theoretical model identified ranges of spatial variability required within multiple-land-class fields for economically viable variable rate technology (VRT) and the spatial variability required for maximum return to VRT. An example illustrated that return to VRT and the viable range of spatial...

The federal to state devolution of welfare programs accent the need for state and local policy makers to anticipate aggregate welfare demand. Pooled regression analysis using six years of county-level Mississippi TANF data identified effects of rurality, education, unemployment, poverty levels,...

The paper discusses the appropriate functional form and estimation technique for a wildlife production function on the farm level. A random effect model was developed to capture the relationship between wildlife output, management practices, natural conditions and non-observed factors that cause...

This study used Rosen's methodology of deriving a marginal implicit price series from traditional hedonic modeling and then using this series to estimate a demand model. This procedure was applied to Kansas Hard Red Winter wheat protein. Results were mixed. Own-district protein level was not...

Environmental issues such as air and water quality related to livestock production currently receive much attention. Potential methods for environmental improvement range from regulation to market solutions. This study looks at consumer willingness to pay for pork products with embedded...

In this paper we use content analysis to show trend in public opinion of agrobiotechnology in the United Kingdom (UK) and the United States (US). We test for the degree of positive and negative content in mass media reporting over the period 1995-1998. Specifically, we test whether there are...

An on-farm harvest, drying and storage system simulation model is used to determine how producers' risk attitudes effect combine and dryer capacity. Stochastic dominance determines the risk efficient combine and dryer set for a 2000 acre farm in central Indiana. Capacities decrease as risk...