Many previous studies provide pricing models of options on futures spreads. However, none of them fully reflect the economic reality that spreads can stay near full carry for long periods of time. We suggest a new option pricing model that assumes that convenience yield follows arithmetic...

In the U.S., anaerobic digestion systems are rarely adopted because large construction costs make them economically infeasible for most animal feeding operations. However, limited research is available on the application of these technologies on swine farms. Net present values were calculated to...

Improved software now makes Bayesian estimation a strong alternative to nonlinear maximum likelihood. Bayesian methods were used to estimate a linear response stochastic plateau for cotton and were shown to provide estimates similar to maximum likelihood. Optimal levels of nitrogen were lower...

Futures prices when combined with a basis forecast provide a reliable way to forecast cash prices. The most popular method of forecasting basis is historical moving averages. Given the recent failure of longer moving averages proposed by previous studies, this research reassesses past...

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....

The parameters of yield response functions can vary by year. Past studies usually assume yield functions are nonstochastic or ‘limited’ stochastic. In this study, we estimate rye-ryegrass yield functions where all parameters are random. Optimal nitrogen rates are calculated for two yield...

A variable rate nitrogen applicator based on optical reflectance measurements was developed to increase profits in wheat production by reducing the cost of production or by increasing grain yield. This paper determines if yields and profits from the variable rate treatments are significantly...

Wheat regression models that account for the effect of weather are developed to forecast wheat yield and quality. Spatial lag effects are included. Wheat yield, protein, and test weight level are strongly influenced by weather variables. The forecasting power of the yield and protein models was...

Recent changes in federal farm programs and contemporary farm program proposals highlight an evolving shift in farm policy from income support to risk management. A mix of price- and revenue-based commodity programs as well as yield- and revenue-based insurance products provide crop producers a...

Although significant research has been done on managing farmers’ financial risk through federal programs such as federal crop insurance, to date, little attention has been paid to the ability of on-farm management’s potential to mitigate agricultural risk. Federal crop insurance could...