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

  • 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)

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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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
Contact details of provider: 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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