Replaced with corrected version of paper 04/04/08.

In this study, the strategic impacts of input-output price relationships on end-users' demands for futures and/or options are analyzed. An analytical model is developed based on mean-variance utility and extended to account for the impact of output prices and the inclusion of both futures and/or...

Special segregations that provide unique qualities for end use products are being specified by buyers. As users of wheat become more specific about quality, the number of quality segregations that the logistical pipeline must accommodate increases. The additional cost of increased grain...

This study examined moisture specification practices in the United States and for major exporters and assessed impacts of changes to a nil or constant moisture basis on prices and revenue. These were examined under scenarios where information on moisture in current prices is limited and under a...

This study examines prospective additional costs associated with identity preserved (IP) transactions and their allocation among participants in the wheat marketing system (farmers, grain handlers, and millers). Cost allocations for participants are computed across a range of potential...

Development of genetically modified crops is challenging the functions of the grain marketing system with many participants arguing for Identity Preservation systems prior to release of GM varieties. In this study, a stochastic optimization model was developed to determine optimal testing...

U.S. white corn production, consumption, and exports increased from 1980 to 1999/00 and production and area have since declined. White corn is produced largely in Nebraska, Kentucky, and Texas, although production in Texas has declined and has increased in other states (Illinois, Indiana, and...

A number of challenges exist for genetically modified (GM) crop development at the production level. Contract strategies can resolve these challenges. Contracts can be designed to induce legal adoption of GM wheat by varying technology fees, violation detection, and penalties. The primary...

Consistency of functional characteristics in hard red spring (HRS) wheat is a concern confronting sellers and buyers. This research analyzes contract incentives for importers with respect to cost and potential risk of acceptance. A principal-agent framework is utilized to examine contract...

Development of genetically modified crops is challenging the functions of the grain marketing system with many participants arguing for Identity Preservation (IP) systems prior to release of GM varieties. In this study, a stochastic optimization model was developed to determine optimal testing...