Business risk management (BRM) continues to be the central objective of agricultural policy in many countries, including Canada and the US. The unprecedented volatility that has characterized the farming sector in recent years is only expected to rise. Thus, governments continue to implement...

Using daily data from 182 spatially separated U.S. cash markets for the years 2006-2011, I investigate price discovery for corn. With a large number of cash markets available, I take into account explicitly the issue of market selection, which has been neglected in previous work. I find that...

This study investigates dynamic relationships among U.S. corn cash prices for the years 2006-2011. With daily data from 182 spatially separated markets spreading across 7 states, Iowa (IA), Illinois (IL), Indiana (IN), Ohio (OH), Minnesota (MN), Nebraska (NE), and Kansas (KS), we apply an error...

The Federal Crop Insurance program has expanded dramatically over the past two decades---from $140 million in subsidies and 84 million acres covered to nearly $10 billion in subsidies and 260 million acres covered. The effect this has had on farmers' overall risk exposure and profitability is...

It seems paradoxical that until recently, developed countries have continued subsidizing agriculture even though their agricultural sectors had been declining in relative importance since the middle of the 20th century. What drives support for agricultural protection—the broad array of...

Many risk management strategies, including hedging the price risk using forward or futures contracts require accurate forecasts of basis, i.e., spot price minus the futures price. Recent literature in this area has applied nonlinear time-series models, which are refinements of the linear...

The objective was to compare the performance of farms that have more than one self-identified manager to the performance of similar farms with only one self-identified manager. The question to be answered is whether more managers enhance the performance of the farm. The technique used is a...