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Risk Management in Agricultural Markets: A Survey

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  • Tomek, William G.
  • Peterson, Hikaru Hanawa

Abstract

This paper surveys and evaluates the current state of knowledge about marketing strategies to manage price and revenue risk for farm commodities. What does existing research tell about the benefits and costs of alternative risk management strategies? What are the limitations of this research? What are the gaps in our knowledge?

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Bibliographic Info

Paper provided by Cornell University, Department of Applied Economics and Management in its series Staff Papers with number 121140.

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Date of creation: Jan 2000
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Handle: RePEc:ags:cudasp:121140

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Keywords: Marketing; Risk and Uncertainty;

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References

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Citations

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Cited by:
  1. Todd H. Kuethe & Mitch Morehart, 2012. "The profit impacts of risk management tool adoption," Agricultural Finance Review, Emerald Group Publishing, Emerald Group Publishing, vol. 72(1), pages 104-116, March.
  2. Easwaran, R. Salvadi & Ramasundaram, P., 2008. "Whether commodity futures market in agriculture is efficient in price discovery? - An econometric analysis," Agricultural Economics Research Review, Agricultural Economics Research Association (India), Agricultural Economics Research Association (India), vol. 21(2008).
  3. Good, Darrel L. & Irwin, Scott H. & Martines-Filho, Joao & Hagedorn, Lewis A., 2005. "The Pricing Performance of Market Advisory Services in Corn and Soybeans over 1995-2003," AgMAS Project Research Reports, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics 14775, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
  4. Peterson, Hikaru Hanawa & Tomek, William G., 2001. "Income-Enhancing And Risk-Reducing Properties Of Marketing Practices," 2001 Annual meeting, August 5-8, Chicago, IL 20613, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  5. Hubbs, Todd & Kuethe, Todd H. & Ebel, Robert M. & Morehart, Mitchell J., 2012. "Should Farmers Use Futures and Options? A Pseudo-Experimental Analysis," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington, Agricultural and Applied Economics Association 124822, Agricultural and Applied Economics Association.
  6. Lin, Chuanyi & Roberts, Matthew C., 2006. "Storability on Modeling Commodity Futures Prices," 2006 Annual meeting, July 23-26, Long Beach, CA 21484, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  7. Pennings, Joost M.E. & Isengildina, Olga & Irwin, Scott H. & Good, Darrel L., 2004. "The Impact Of Marketing Advisory Service Recommendations On Producers' Marketing Decisions," 2004 Annual meeting, August 1-4, Denver, CO 20389, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  8. Irwin, Scott H. & Good, Darrel L. & Martines-Filho, Joao & Batts, Ryan M., 2006. "The Pricing Performance of Market Advisory Services in Corn and Soybeans Over 1995-2004," AgMAS Project Research Reports, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics 37513, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
  9. Peterson, Hikaru Hanawa & Tomek, William G., 2001. "Income Enhancing and Risk Management Properties of Marketing Practices," Working Papers, Cornell University, Department of Applied Economics and Management 127653, Cornell University, Department of Applied Economics and Management.
  10. Joao Martines-Filho, 2006. "The Performance of Agricultural Market Advisory Services in Corn and Soybeans," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 88(1), pages 162-181.
  11. Welch, J. Mark & Mkrtchyan, Vardan & Power, Gabriel J., 2009. "Predicting the Corn Basis in the Texas Triangle Area," Journal of Agribusiness, Agricultural Economics Association of Georgia, Agricultural Economics Association of Georgia, vol. 27.
  12. Larsen, Ryan A. & Vedenov, Dmitry V. & Leatham, David J., 2009. "Enterprise-level risk assessment of geographically diversified commercial farms: a copula approach," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia, Southern Agricultural Economics Association 46763, Southern Agricultural Economics Association.
  13. Irwin, Scott H. & Martines-Filho, Joao & Good, Darrel L., 2003. "The Pricing Performance Of Market Advisory Services In Corn And Soybeans Over 1995-2001," AgMAS Project Research Reports, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics 14773, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
  14. Pennings, Joost M.E. & Isengildina, Olga & Irwin, Scott H. & Good, Darrel L., 2004. "The Impact of Market Advisory Service Recommendations on Producers' Marketing Decisions," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, Western Agricultural Economics Association, vol. 29(02), August.
  15. Anderson, Jock R., 2003. "Risk in rural development: challenges for managers and policy makers," Agricultural Systems, Elsevier, Elsevier, vol. 75(2-3), pages 161-197.
  16. Williams, John & Malcolm, Bill, 2012. "Farmer decisions about selling wheat and managing wheat price risk in Australia," Australasian Agribusiness Review, University of Melbourne, Melbourne School of Land and Environment, University of Melbourne, Melbourne School of Land and Environment, vol. 20.
  17. Wei Shi & Scott H. Irwin, 2005. "Optimal Hedging with a Subjective View: An Empirical Bayesian Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 87(4), pages 918-930.
  18. Heidelbach, Olaf, 2007. "Efficiency of selected risk management instruments: An empirical analysis of risk reduction in Kazakhstani crop production," Studies on the Agricultural and Food Sector in Central and Eastern Europe, Leib­niz Institute of Agricultural Development in Central and Eastern Europe (IAMO), volume 40, number 92323.

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