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Factors influencing farm level use of futures and options in commodity marketing

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Author Info

  • Larry D. Makus

    (Department of Agricultural Economics and Rural Sociology at the University of Idaho)

  • Biing-Hwan Lin

    (Department of Agricultural Economics and Rural Sociology at the University of Idaho)

  • John Carlson

    (Department of Agricultural Economics and Rural Sociology at the University of Idaho)

  • Rose Krebill-Prather

    (Department of Agricultural Economics and Rural Sociology at the University of Idaho)

Abstract

A probit model is used to quantify factors influencing the probability that a selected group of agricultural decision makers (producers and landowners receiving crops from a share lease) used futures or options for commodity marketing during the 1986, 1987, or 1988 marketing years. Respondents were selected from participants in orientation sessions associated with the nationwide Futures and Option Marketing Pilot Program. Results suggest previous use of cash forward contracts, location, size and farming operation (measured by gross farm sales), having a college degree(s), and membership in a marketing club have the greatest impact on the probability of using futures and options.

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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Agribusiness.

Volume (Year): 6 (1990)
Issue (Month): 6 ()
Pages: 621-631

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Handle: RePEc:wly:agribz:v:6:y:1990:i:6:p:621-631

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Web page: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1520-6297

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  1. Amemiya, Takeshi, 1981. "Qualitative Response Models: A Survey," Journal of Economic Literature, American Economic Association, vol. 19(4), pages 1483-1536, December.
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Cited by:
  1. Wang, H. Holly & Du, Wen, 2005. "Intertemporal Risk Management Decisions of Farmers under Preference, Market, and Policy Dynamics," 2005 Annual meeting, July 24-27, Providence, RI 19526, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  2. Riley, John Michael & Anderson, John D., 2009. "Producer Perceptions of Corn, Soybean and Cotton Price Risk," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46865, Southern Agricultural Economics Association.
  3. Joost M.E. Pennings & Raymond M. Leuthold, 1999. "Commodity Futures Contract Viability: A Multidisciplinary Approach," Finance 9905002, EconWPA.

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