Taking the price of futures as a proxy for expected price, this article treats acreage planted to soybean, the price of futures, and other variables as jointly dependent. A futures price equation is embedded in a simultaneous equations model along with the consumption demand and acreage...

This article begins with a review of what has happened to U.S. domestic farm policies and related agricultural trade policies over the past 10 years. We conclude this review with a brief overview of the policies as they stand today. Then we consider potential outcomes in the 2007 Farm Bill, and...

An econometric model based on the net present value model is used to examine factors that drive the variation of California dairy quota values over a 29-year period. The results suggest the price of quota is based on expected returns, variations in quota owner liquidity, and the risk of policy...