Trade uncertainty occurs when quality changes or when Administrative Trade Barriers (ATBs) cause a chance that a commodity will not enter the import market. Trade uncertainty adversely affects marketing firms and commodity trade. But arbitrage still precludes the distribution of rents to...

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Replaced with revised version of paper 02/15/11.

This paper investigates the effect of a biomass crop introduction in a local market where field crops, cattle forage and biomass crops compete for the agricultural resources and determine land use. A simulation study for a State in the US (Minnesota) with extensive and diverse agricultural...

This article considers stabilization policies when the government acts before and after the weather is known, uses intervention rules that exclude discretion, and considers multiple policy instruments. Simulations shed light on the benefits and costs of corn-market stabilization and the...

Abstract Currently Unavailable.

The components of social costs included in the supply analysis are cash outlays and opportunity costs associated with harvest and alternative residue uses, potential environmental damage that is avoided by excluding unsuitable land, and costs in moving residues from farms to processing plants....

Simulations suggest that soybeans with less protein and more oil would alter quality and change quantities on the market. Substitution toward other protein feeds, like fishmeal, would mitigate the benefits from restricted soymeal supply. Thus, there would not be a net welfare gain for the United...