This study evaluates the accuracy of USDA interval forecasts for corn, soybean, and wheat prices using Christoffersen’s (1998) tests for unconditional coverage, independence and conditional coverage adjusted for asymmetries in tail probabilities. The findings of this study demonstrate that due...

This study explores market forces that affect harvest grain basis for corn, soybeans, and wheat in a grain deficit market. The findings indicate that implied basis (cash forward bid less harvest futures), nearby HHO price, and log of open interest on the harvest futures contract can be used to...

This paper develops a framework for assessing the potential economic impact of a regional promotion campaign combining contingent valuation methods with a partial displacement equilibrium model. The proposed approach is applied to the evaluation of the potential economic impact of the locally...

This study analysed forecasts for all US corn, soya bean and wheat categories published within the World Agricultural Supply and Demand Estimates (WASDE ) reports over the 1987/88 through 2009/10 marketing years in an attempt to identify patterns and better understand when the USDA forecasters...

The main objective of this study was to analyze the effect of advertising on social welfare in a perfectly competitive market where the level of advertising is chosen by a social planner. The theoretical model revealed that social planner sponsored advertising that increases the equilibrium...

This study examined how various components of the Certified South Carolina campaign are valued by participating restaurants. A choice experiment was conducted to estimate the average willingness to pay (WTP) for each campaign component using a mixed logit model. Three existing campaign...

Despite the touted potential of e-commerce to improve agriculture profits, the literature on effectiveness of e-commerce is very limited. This paper assesses the economic impact of an electronic trade platform (i.e., MarketMaker) on agricultural producers. Contingent valuation techniques are...

This study evaluates all USDA cotton supply and demand estimates for the United States and China (including unpublished price forecasts) from 1985/86 through 2009/10 for accuracy and efficiency. Results reveal that at every stage of the forecasting cycle forecast smoothing was the most...

This study investigates the rationality of monthly revisions in annual forecasts of supply, demand and price for U.S. corn, cotton, soybeans, and wheat, published in the World Agricultural Supply and Demand Estimates over 1985/86-2010/11. The findings indicate that USDA's forecast revisions are...