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          Volume 08, Number 01, July 1983 >

Please use this identifier to cite or link to this item: http://purl.umn.edu/32481

Title: AN ANALYSIS OF THE ROLE OF FUTURES PRICES, CASH PRICES AND GOVERNMENT PROGRAMS IN ACREAGE RESPONSE
Authors: Chavas, Jean-Paul
Pope, Rulon D.
Kao, Robert S.
Issue Date: 1983-07
Abstract: An integrated investigation of futures price, cash price, and government programs is presented in the context of an econometric model of acreage supply response for U.S. corn and soybeans. The analysis refines the role of different sources of price information in the farmers' acreage decision. It is found that the government corn support price program plays a major role in corn and soybean production decisions. Also, the results indicate that futures prices are not good proxies for expected future cash prices in the presence of government programs. This raises questions about the information efficiency of futures prices when government intervenes in the market place.
URI: http://purl.umn.edu/32481
Institution/Association: Western Journal of Agricultural Economics>Volume 08, Number 01, July 1983
Total Pages: 7
Language: English
From Page: 27
To Page: 33
Collections:Volume 08, Number 01, July 1983

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