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The Responsiveness of U.S. Corn and Soybean Acreages to Conditional Price Expectations: An Application to the 1985 Farm Bill

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  • Shideed, Kamil H.
  • White, Fred C.
  • Brannen, Stephen J.

Abstract

Naive and adaptive schemes have been used as proxies for price expectations in previous studies of supply response. Those studies contain mixed formulas of futures, support, and lagged prices as alternative formulations for price expectations. This study uses a conditional expected price which combines both market and support prices into one price expectations measure. It defines the total effect of available information on supply response. The results indicate the potential usefulness of formulating expected prices as conditional price expectations in supply response analysis, with support prices being the conditional set. Under the provisions of the 1985 Farm Bill, significant reductions in corn and soybean acreages are in prospect for 1987-90.

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  • Shideed, Kamil H. & White, Fred C. & Brannen, Stephen J., 1987. "The Responsiveness of U.S. Corn and Soybean Acreages to Conditional Price Expectations: An Application to the 1985 Farm Bill," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 19(2), pages 153-161, December.
    • Handle: RePEc:cup:jagaec:v:19:y:1987:i:02:p:153-161_02
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    Cited by:

    1. Carey, Kathleen, 1992. "The U.S. Wheat And Corn Programs: Some Domestic Welfare And International Trade Implications," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(1), pages 1-8, July.
    2. Chembezi, Duncan M. & Womack, Abner W., 1992. "Regional Acreage Response For U.S. Corn And Wheat: The Effects Of Government Programs," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(1), pages 1-12, July.
    3. Gal Hochman & Scott Kaplan & Deepak Rajagopal & David Zilberman, 2012. "Biofuel and Food-Commodity Prices," Agriculture, MDPI, vol. 2(3), pages 1-10, September.

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