Family farms vary widely in size and other characteristics, ranging from very small retirement and residential farms to establishments with sales in the millions of dollars. The farm typology developed by the Economic Research Service (ERS) categorizes farms into groups based primarily on...

This report documents an applied general equilibrium model of the United States. The model features explicit treatment of Federal, State, and local taxes and is segmented into 10 distinct subregions. These subregions engage in inter- and intraregional trade, as well as international trade. Each...

In 2008, wheat futures prices spiked and then crashed along with prices for other agricultural and nonagricultural commodities. Market observers offered several theories to explain this common movement, or comovement, in prices, and have proposed policies to address the perceived problem of...

Since 2003, direct payments have accounted for a signifi cant portion of farm program payments. If direct payments were eliminated, many agricultural producers would be affected, both through the loss of income and potential declines in land values and rental rates. This report considers the...

This report is a primer on the use of debt by U.S. farm businesses for policymakers, researchers, and others interested in the financial well-being of U.S. agriculture. It presents data on basic debt-use patterns by farm businesses (in 2011, over 900,000 farms operated as farm businesses based...

Formation of the Producers Export Company (PEC) in 1958 was a first attempt by grain cooperatives to develop an export merchandising program. PEC's nationwide membership had different export needs and financial resources which imposed constraints on PEC's strategy and operations. A lack of...