Expectations about future economic conditions are important determinants of commodity prices. This paper presents a relatively simple model that makes futures prices for corn a function of expected production and inventories and of variables that account for demand shifts. The intent is to...

An understanding of changes in price volatility is of value to policy makers and exchange committee members as well as other participants in commodity futures markets. Previous research has studied volatility by measuring: 1) the flow of new information into the market, or 2) the effect that the...

Natural disasters in the u.S. demonstrate the lack of and need for integrated disaster plans for the u.S. dairy industry. It is demonstrated how a spatial model of the Northeast dairy industry can be used to assess and analyze potential impacts of local and regional disasters on market levels in...

Farm performance measures based upon 10 years of individual farm data are linearly regressed on risk preferences of 41 dairy farmers. Greater aversion to risk produces a lower average but more stable income, although the importance of risk preferences in determining long-run performance appears...