This article determines the accuracy of quarterly land value forecasts provided by bankers through the Federal Reserve Bank of Kansas City’s Survey of Agricultural Credit Conditions. Bankers’ qualitative forecasts of up, down, or no change are compared against actual, selfreported...

The parameters of yield response functions can vary by year. Past studies usually assume yield functions are nstochastic ‘‘limited’’ stochastic. In this study, we estimate rye– ryegrass yield functions in which all parameters are random. The three functional...

Nonfarm investors might benefit from diversifying their portfolios by investing in the agricultural sector. Such diversifying investments could include investments in agricultural stocks or long-only futures positions through index funds. The papers in this session investigate the...

ACox nonnested test is conducted using a fast double bootstrap (FDB) method to select among three competing functional forms (linear response plateau, quadratic, and Mitscherlich-Baule) to model forage yield response to nitrogen applied with swine effluent. The quadratic is rejected in favor of...

Both market advisors and researchers have often suggested multiyear rollover hedging as a way to increase producer returns. This study determines whether rollover hedging can increase expected returns for producers. For rollover hedging to increase expected returns, futures prices must follow a...

Dual-purpose winter wheat production is an important economic enterprise in the southern Great Plains of the United States. Because of the complex interactions involved in producing wheat grain and beef gain from a single crop, stocking density is an important decision. The objective of the...

Several recent papers have used annual changes and monthly data to estimate demand systems. Such use of overlapping data introduces a moving average error term. This paper shows how to obtain consistent and asymptotically efficient estimates of a demand system using seasonally differenced data....

Dual-purpose winter wheat (fall-winter forage plus grain) production is an important economic enterprise in the southern Great Plains. Grazing termination to enable grain production is a critical decision. The objective is to determine the optimal grazing termination date for dual-purpose wheat....

Obtaining estimates of pesticides productivity is an economic response to the growing public concern about the steady increase of pesticide use in the United States. This type of research indicates the cost of limiting pesticide use in terms of foregone output. Pervious empirical studies give a...

Aggregate data are commonly used to determine returns to storage. However, recent studies have shown that aggregating data may lead to underestimated returns. This article compares aggregate and elevator data from Oklahoma to determine if aggregate data underestimate returns. We find no...