The value of land dominates the financial structure of most American agricultural production firms, and land values are an important factor in long-term agricultural planning and risk management. As the primary source of collateral for farm loans, farmland values have significant implications...

The major finding is that liquidity costs in futures options market are two to three times higher than liquidity costs in the futures market. Liquidity cost is one potential factor to consider when choosing between hedging with a futures contract or with an option contract. While there is...

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...

Historically, cropland rental rates have been substantially higher than rental rates for pasture. Currently however, the gap between selling prices of cropland and pasture in Oklahoma has shrunk in western Oklahoma and pasture now sells for more than cropland in eastern Oklahoma. Regression...

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 major finding is that liquidity costs in futures options market are two to three times higher thanliquidity costs in the futures market. Liquidity cost is one potential factor to consider when choosingbetween hedging with a futures contract or with an option contract. While there is...

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

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....