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Marketing Of Wheat On A Constant And Nil Moisture Basis

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  • Wilson, William W.
  • Dahl, Bruce L.

Abstract

This study examined moisture specification practices in the United States and for major exporters and assessed impacts of changes to a nil or constant moisture basis on prices and revenue. These were examined under scenarios where information on moisture in current prices is limited and under a scenario where current prices reflect Full Knowledge of moisture advantages. Results indicate that changing to a nil moisture basis (which requires a subsequent adjustment in volumes to reflect the subtraction of moisture) would increase reported prices from 42 to 70 c/bu for the wheat classes, while changing to a 12 percent constant moisture basis would have limited impacts on reported prices. Effects on relative prices/revenue depend on whether knowledge of moisture advantages are reflected in current prices. If current prices reflect moisture advantages (Full Knowledge), then relative effects on prices/revenues are minimal. If current prices do not reflect moisture advantages (Limited Knowledge), then prices/revenue in drier production regions would increase.

Suggested Citation

  • Wilson, William W. & Dahl, Bruce L., 2002. "Marketing Of Wheat On A Constant And Nil Moisture Basis," Agribusiness & Applied Economics Report 23638, North Dakota State University, Department of Agribusiness and Applied Economics.
    • Handle: RePEc:ags:nddaae:23638
    DOI: 10.22004/ag.econ.23638
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    File URL: https://ageconsearch.umn.edu/record/23638/files/aer496.pdf
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    Crop Production/Industries;

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