A rational expectations competitive storage model for U.S. corn and RIN (Renewable Identification Numbers) markets is built to study the impacts of different ethanol policy scenarios. The model considers corn use for ethanol, storage and all other uses in each period, accounting for two random...

A wide variety of insurance products is available to agricultural producers to insure against yield or price risks in the markets for the raw commodities they produce. Value-added enterprises, such as ethanol production, have been expanding over the last decade. This paper outlines the...

Life cycle analysis (LCA) is the standard approach used to evaluate the greenhouse gas (GHG) benefits of biofuels. However, it is increasingly recognized that LCA results do not account for some impacts including land use changes that have important implications on GHGs. Thus, an alternative...

A myriad of policy issues and questions revolve around understanding the bioeconomy. To gain insight, we develop a stochastic and dynamic general equilibrium model and capture the uncertain nature of key variables such as crude oil prices and commodity yields. We also incorporate acreage...

The vast majority of crop and revenue insurance policies sold in the United States are single-crop policies that insure against low yields or revenues for each crop grown on the farm. But, increasingly, producer income is based more on the value of crops that have been converted into a...

Renewable Fuel Standard (RFS) aims to support investment in cellulosic biofuel refineries by mandating a floor on the amount of biofuels being consumed in every calendar year. Tradable Renewable Identification Numbers (RINs) is the market mechanism by which the mandates are to be met. But the...

We examined four evolution paths of the biofuel sector using a partial equilibrium worldagricultural sector model in CARD that includes the new RFS in the 2007 EISA, a two-wayrelationship between fossil energy and biofuel markets, and a new trend toward corn oilextraction in ethanol plants. At...

The vast majority of crop and revenue insurance policies sold in the United States are single-crop policies that insure against low yields or revenues for each crop grown on the farm. But, increasingly, producer income is based more on the value of crops that have been converted into a...