Consulta: creatorFacets:"Martines-Filho,   Joao Gomes"
Registros recuperados: 32
Data/hora: 11/06/2024 02:07:31

THE PRICING PERFORMANCE OF MARKET ADVISORY SERVICES IN CORN AND SOYBEANS OVER 1995-2000
Provedor de dados: 31
Autores: Good,   Darrel L.; Martines-Filho,   Joao Gomes; Irwin,   Scott H.
The purpose of this research report is to evaluate the pricing performance of market advisory services for the 1995-2000 corn and soybean crops. Certain explicit assumptions are made to produce a consistent and comparable set of results across the different advisory programs. These assumptions are intended to accurately depict "real-world" marketing conditions. Several key assumptions are: i) with a few exceptions, the marketing window for a crop year runs from September before harvest through August after harvest, ii) cash prices and yields refer to a central Illinois farm, iii) storage is assumed to occur at on-farm or commercial sites, and iv) marketing loan recommendations made by advisory programs are followed wherever feasible. Based on these...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2002
URL: http://purl.umn.edu/14784

THE PERFORMANCE OF AGRICULTURAL MARKET ADVISORY SERVICES IN CORN AND SOYBEANS
Provedor de dados: 31
Autores: Irwin,   Scott H.; Martines-Filho,   Joao Gomes; Good,   Darrel L.
The purpose of this paper is to evaluate the performance of market advisory services for the 1995-2000 corn and soybean crops. A new database from the Agricultural Market Advisory Services (AgMAS) Project is used in the evaluation. This database should not be subject to survivorship and hindsight biases. Overall, the results provide limited evidence that advisory programs as a group outperform market benchmarks, particularly after considering risk. In contrast, some evidence exists that advisory programs as a group outperform the farmer benchmark, even after taking risk into account. There is little evidence that advisory programs with superior performance can be usefully selected based on past performance.
Tipo: Conference Paper or Presentation
Palavras-chave: Crop Production/Industries.
Ano: 2003
URL: http://purl.umn.edu/22256

Portfolios of Agricultural Market Advisory Services: How Much Diversification is Enough?
Provedor de dados: 31
Autores: Cabrini,   Silvina M.; Stark,   Brian G.; Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes.
This study analyzes the potential risk-reduction gains from naïve diversification among market advisory services for corn and soybeans.  The total possible decrease in risk through naïve diversification is small, mainly because advisory prices are highly correlated on average.  Moreover, because marginal risk-reduction benefits decrease rapidly with size and the cost of holding the portfolios increases linearly due to services’ subscription fees, it is optimal to limit portfolio size to a few advisory programs.  Based on certainty equivalent measures and two representative risk-aversion levels, preferred portfolio sizes are between one and three programs.
Tipo: Journal Article
Palavras-chave: Corn; Diversification; Market advisory service; Portfolio; Soybeans; Agricultural Finance; Crop Production/Industries; Marketing; G11; Q10; Q12; Q14.
Ano: 2005
URL: http://purl.umn.edu/43717

1998 PRICING PERFORMANCE OF MARKET ADVISORY SERVICES FOR CORN AND SOYBEANS
Provedor de dados: 31
Autores: Good,   Darrel L.; Irwin,   Scott H.; Jackson,   Thomas E.; Jirik,   Mark A.; Martines-Filho,   Joao Gomes.
The purpose of this research report is to present an evaluation of advisory service pricing performance in 1998 for corn and soybeans. Specifically, the average price received by a subscriber to an advisory service is calculated for corn and soybean crops harvested in 1998. The average net advisory price across all 23 corn programs is $2.17 per bushel - seven cents below the market benchmark price. The net advisory prices for corn range from a minimum of $1.93 per bushel to a maximum of $2.51 per bushel. The average net advisory price across all 22 soybean programs is $5.82 per bushel - four cents less than the market benchmark. The net advisory prices for soybeans range from a minimum of $5.11 per bushel to a maximum of $6.58 per bushel.
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2000
URL: http://purl.umn.edu/14793

PUTTING THE RISK PROTECTION ACT OF 2000 TO WORK: APPLIED MARKETING STRATEGIES (PowerPoint Presentation)
Provedor de dados: 31
Autores: Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes.
POWERPOINT PRESENTATION
Tipo: Conference Paper or Presentation
Palavras-chave: Marketing; Risk and Uncertainty.
Ano: 2001
URL: http://purl.umn.edu/33092

PORTFOLIOS OF AGRICULTURAL MARKET ADVISORY SERVICES: HOW MUCH DIVERSIFICATION IS ENOUGH?
Provedor de dados: 31
Autores: Cabrini,   Silvina M.; Stark,   Brian G.; Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes.
This study analyzes the potential risk reduction gains from naive diversification (equal-weighting) among market advisory services for corn and soybeans.  The total possible decrease in risk through naive diversification is small, mainly because advisory prices are highly correlated on average.  Moreover, since marginal risk reduction benefits decrease rapidly with size, and the cost of holding the portfolios increases linearly due to services' subscription fees, it is optimal to limit portfolio size to a few advisory programs.  Based on certainty equivalent measures and two representative risk aversion levels, preferred portfolio sizes are between one and three services. Overall, there does not appear to be strong justification for farmers adopting...
Tipo: Conference Paper or Presentation
Palavras-chave: Agribusiness; Agricultural Finance.
Ano: 2004
URL: http://purl.umn.edu/19013

TRACKING THE PERFORMANCE OF MARKETING PROFESSIONALS: 1995-2000 RESULTS FOR CORN AND SOYBEANS
Provedor de dados: 31
Autores: Irwin,   Scott H.; Martines-Filho,   Joao Gomes; Good,   Darrel L.
The purpose of this research bulletin is to summarize the pricing performance of professional market advisory services for the 1995-2000 corn and soybean crops. The pricing performance results over 1995-2000 suggest several key findings. First, advisory programs in corn do not consistently beat market benchmarks, but they do consistently beat the farmer benchmark. Second, advisory programs in soybeans tend to beat both market and farmer benchmarks. Third, in terms of 50/50 revenue, advisory programs only marginally beat market benchmarks, but consistently beat the farmer benchmark. Overall, there is mixed evidence that advisory programs as a group outperform market benchmarks, while substantial evidence exists that advisory programs as a group outperform...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2002
URL: http://purl.umn.edu/14794

EVALUATION OF MARKET ADVISORY SERVICE PERFORMANCE IN HOGS
Provedor de dados: 31
Autores: Webber,   Rick L.; Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes.
The purpose of this paper is to investigate the pricing performance of agricultural market advisory services in hogs. Pricing recommendations are available for all quarters from the beginning of 1995 through the end of 2001. The results show that average differences between advisory programs and market benchmarks are small in nominal terms for all three benchmarks, -$0.41/bu., $O.OO/cwt. and $-0.27/cwt. versus the cash, index and empirical benchmarks, respectively, and none of the average differences are significantly different from zero. Hence, advisory programs as a group do not outperform the market benchmarks in terms of average price. Advisory programs also do not outperform the market benchmarks in terms of average price and risk. Finally, there is...
Tipo: Conference Paper or Presentation
Palavras-chave: Marketing.
Ano: 2003
URL: http://purl.umn.edu/18980

Razao de hedge otima de minimo MPI (momento parcial inferior) no mercado futuro de boi gordo na BM&amp;F
Provedor de dados: 31
Autores: Marques,   Pedro Valentim; Martines-Filho,   Joao Gomes; Cruz Junior,   Jose Cesar.
Uma vez que o pecuarista decide-se por utilizar o mercado futuro de boi gordo da BM&amp;F como ferramenta de redução de risco de sua produção, uma das primeiras perguntas a serem respondidas é: quanto se fazer de hedge? Esta pergunta tem sido frequentemente respondida através da utilização do modelo de razão de hedge de mínima variância. O presente trabalho teve como objetivo apresentar um modelo alternativo à abordagem tradicional - denominado razão de hedge de mínimo momento parcial inferior (MPI) - para se calcular a razão de hedge ótima. O modelo alternativo utiliza o momento parcial inferior como medida de risco. Ambas as razões de hedge foram calculadas e suas performances foram verificadas através da avaliação dos resultados obtidos com suas...
Tipo: Presentation
Palavras-chave: Mercados futuros; Razao de hedge otima; Momentos parciais inferiores; Boi gordo; Futures markets; Optimal hedge ratio; Lower partial moments; Live cattle; Marketing; Risk and Uncertainty.
Ano: 2008
URL: http://purl.umn.edu/119148

Advisory Service Marketing Profiles for Corn in 2001
Provedor de dados: 31
Autores: Colino,   Evelyn V.; Cabrini,   Silvina M.; Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes.
Tipo: Report
Palavras-chave: Agricultural Finance.
Ano: 2004
URL: http://purl.umn.edu/37493

ADVISORY SERVICE MARKETING PROFILES FOR CORN OVER 1995-2000
Provedor de dados: 31
Autores: Martines-Filho,   Joao Gomes; Irwin,   Scott H.; Good,   Darrel L.; Cabrini,   Silvina M.; Stark,   Brian G.; Shi,   Wei; Webber,   Rick L.; Hagedorn,   Lewis A.; Williams,   Steven L.
This report presents marketing profiles and loan deficiency payment/marketing loan gain profiles for the advisory services followed by the AgMAS Project for the 1995 through 2000 corn crops. Marketing profiles are constructed by plotting the cumulative net amount priced under each program's set of recommendations throughout a crop year. Loan deficiency payment/marketing loan gain (LDP/MLG) profiles are constructed by plotting the cumulative percentage of the crop on which the LDP/MLG was claimed during the crop year.   Marketing profiles provide information to evaluate the style of advisory services in several ways.  The percentage of crop priced is a measure of within-crop year price risk.  The higher the proportion of a crop priced, the lower the...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2003
URL: http://purl.umn.edu/14776

The Pricing Performance of Market Advisory Services in Corn and Soybeans Over 1995-2003: A Non-Technical Summary
Provedor de dados: 31
Autores: Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes; Hagedorn,   Lewis A.
The purpose of this research report is to summarize the pricing performance of professional market advisory services for the 1995-2003 corn and soybean crops. First, advisory programs in corn do not consistently beat market benchmarks, but tend to consistently beat the farmer benchmark. Second, advisory programs in soybeans exhibit just the opposite pattern, consistently beating the market benchmarks but not the farmer benchmark. Third, in terms of 50/50 revenue, advisory programs show marginal consistency in beating both the market benchmarks and the farmer benchmark. So, the results provide mixed performance evidence with respect to both the market benchmarks and the farmer benchmark.
Tipo: Report
Palavras-chave: Agricultural Finance.
Ano: 2005
URL: http://purl.umn.edu/37486

The Pricing Performance of Market Advisory Services in Corn and Soybeans Over 1995-2004
Provedor de dados: 31
Autores: Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes; Batts,   Ryan M.
The purpose of this research report is to evaluate the pricing performance of market advisory services for the 1995-2004 corn and soybean crops. Marketing assumptions applied to advisory program track records are intended to accurately depict “real-world” marketing conditions facing a representative central Illinois corn and soybean farmer. Several key assumptions are: i) with a few exceptions, the marketing window for a crop year runs from September before harvest through August after harvest, ii) on-farm or commercial physical storage costs, as well as interest opportunity costs, are charged to post-harvest sales, iii) brokerage costs are subtracted for all futures and options transactions and iv) Commodity Credit Corporation (CCC) marketing loan...
Tipo: Report
Palavras-chave: Agricultural Finance; Financial Economics.
Ano: 2006
URL: http://purl.umn.edu/37513

ESTRUTURAÇÃO DE UM ÍNDICE DE PREÇOS DE AÇÕES DO AGRONEGÓCIO BRASILEIRO LISTADAS NA BOVESPA
Provedor de dados: 31
Autores: Souza,   Waldemar Antonio da Rocha; Silva,   Rodolfo Margato; Martines-Filho,   Joao Gomes.
O agronegócio brasileiro vem assumindo forte predominância no cenário econômico, destacando-se como principal responsável pelos crescentes volumes de exportação do País.  As empresas que compõem esse segmento apresentam características econômico-financeiras particularizadas, correlacionadas com as condicionantes intrínsecas do setor. O presente estudo objetiva elaborar e analisar uma metodologia para captar a evolução de dado conjunto de ativos financeiros relacionados ao agronegócio brasileiro, particularmente as ações de companhias abertas do setor negociadas na Bolsa de Valores de São Paulo (BOVESPA), com o intuito de delinear as suas características próprias comparativamente a outros instrumentos disponíveis no mercado de capitais. Com base na...
Tipo: Conference Paper or Presentation
Palavras-chave: Agronegócio; Índice; Ações; BOVESPA; Metodologia; Agribusiness; Index; Stocks; BOVESPA; Methodology; Agribusiness.
Ano: 2008
URL: http://purl.umn.edu/108571

New Generation Grain Marketing Contracts
Provedor de dados: 31
Autores: Hagedorn,   Lewis A.; Irwin,   Scott H.; Martines-Filho,   Joao Gomes; Good,   Darrel L.; Sherrick,   Bruce J.; Schnitkey,   Gary D.
The purpose of this research report is to summarize the features of several types of "new generation" grain marketing contracts.  Over the last several years, new types of grain marketing contracts have been developed by the grain industry in an attempt to improve the results of the marketing process for farmers.  These products use automated pricing rules, discretionary marketing on the part of a professional advisor, options strategies, or some combination of all three; their goal is to achieve a price for the farmer near or above the "average" price offered by the market over a given time.  Reports in the farm media suggest interest in new generation contracts has increased rapidly in recent years.  This publication describes some of the contracts...
Tipo: Working or Discussion Paper
Palavras-chave: Crop Production/Industries; Marketing.
Ano: 2003
URL: http://purl.umn.edu/14782

THE PRICING PERFORMANCE OF MARKET ADVISORY SERVICES IN CORN AND SOYBEANS OVER 1995-2001: A NON-TECHNICAL SUMMARY
Provedor de dados: 31
Autores: Irwin,   Scott H.; Martines-Filho,   Joao Gomes; Good,   Darrel L.
The purpose of this research report is to summarize the pricing performance of professional market advisory services for the 1995-2001 corn and soybean crops.  First, advisory programs in corn do not consistently beat market benchmarks, but they do consistently beat the farmer benchmark.  Second, advisory programs in soybeans tend to beat both market and farmer benchmarks.  Third, in terms of 50/50 revenue, advisory programs only marginally beat market benchmarks, but consistently beat the farmer benchmark.  So, the results provide mixed performance evidence with respect to market benchmarks and consistently positive evidence with respect to the farmer benchmark.  Caution should be used when considering the results, due to the relatively small sample of...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2003
URL: http://purl.umn.edu/14770

The Pricing Performance of Market Advisory Services in Corn and Soybeans Over 1995-2001
Provedor de dados: 31
Autores: Irwin,   Scott H.; Martines-Filho,   Joao Gomes; Good,   Darrel L.
The purpose of this research report is to evaluate the pricing performance of market advisory services for the 1995-2001 corn and soybean crops. The results for 1995-2000 were released in earlier AgMAS research reports, while results for the 2001 crop year are new. Certain explicit assumptions are made to produce a consistent and comparable set of results across the different advisory programs. These assumptions are intended to accurately depict “real-world” marketing conditions facing a representative central Illinois corn and soybean farmer. Several key assumptions are: i) with a few exceptions, the marketing window for a crop year runs from September before harvest through August after harvest, ii) on-farm or commercial physical storage costs, as well...
Tipo: Report
Palavras-chave: Agricultural Finance; Financial Economics.
Ano: 2003
URL: http://purl.umn.edu/37510

The Dynamic Hedging Effectiveness for Soybean Farmers of Mato Grosso with Futures Contracts of BM&amp;F
Provedor de dados: 31
Autores: Souza,   Waldemar Antonio da Rocha; Caldarelli,   Carlos Eduardo; Rocha,   Clei Machado; Martines-Filho,   Joao Gomes.
Paper presented in the VII PENSA CONFERENCE, November/2009, FEA/USP, São Paulo, Brazil.
Tipo: Conference Paper or Presentation
Palavras-chave: Dynamic hedge; Effectiveness; Soybeans; Mato Grosso; Agribusiness; Marketing.
Ano: 2009
URL: http://purl.umn.edu/54990

ADVISORY SERVICE MARKETING PROFILES FOR SOYBEANS OVER 1995-2000
Provedor de dados: 31
Autores: Martines-Filho,   Joao Gomes; Irwin,   Scott H.; Good,   Darrel L.; Cabrini,   Silvina M.; Stark,   Brian G.; Shi,   Wei; Webber,   Rick L.; Hagedorn,   Lewis A.; Williams,   Steven L.
This report presents marketing profiles and loan deficiency payment/marketing loan gain profiles for the advisory services followed by the AgMAS Project for the 1995 through 2000 soybean crops. Marketing profiles are constructed by plotting the cumulative net amount priced under each program's set of recommendations throughout a crop year. Loan deficiency payment/marketing loan gain (LDP/MLG) profiles are constructed by plotting the cumulative percentage of the crop on which the LDP/MLG was claimed during the crop year.   Marketing profiles provide information to evaluate the style of advisory services in several ways.  The percentage of crop priced is a measure of within-crop year price risk.  The higher the proportion of a crop priced, the lower the...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2003
URL: http://purl.umn.edu/14791

1999 PRICING PERFORMANCE OF MARKET ADVISORY SERVICES FOR CORN AND SOYBEANS
Provedor de dados: 31
Autores: Martines-Filho,   Joao Gomes; Good,   Darrel L.; Irwin,   Scott H.
The purpose of this research report is to present an evaluation of advisory service pricing performance in the 1999 crop year for corn and soybeans. Specifically, the average price received by a subscriber to an advisory  service is calculated for corn and soybean crops harvested in 1999. The average net advisory price across all 26 corn programs in 1999 is $2.02 per bushel, three cents below the market benchmark price. The range of net advisory prices for corn is substantial, with a minimum of $1.66 per bushel and a maximum of $2.49 per bushel. The average net advisory price across all 25 soybean programs in 1999 is $5.67 per bushel, seventeen cents above the market benchmark. As with corn, the range of net advisory prices for soybeans is substantial,...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2000
URL: http://purl.umn.edu/14779

The Pricing Performance of Market Advisory Services in Corn and Soybeans over 1995-2003
Provedor de dados: 31
Autores: Good,   Darrel L.; Irwin,   Scott H.; Martines-Filho,   Joao Gomes; Hagedorn,   Lewis A.
The purpose of this research report is to evaluate the pricing performance of market advisory services for the 1995-2003 corn and soybean crops. Four basic indicators of performance are applied to advisory program prices and revenues over 1995-2003.  Test results provide little evidence that advisory programs as a group outperform market benchmarks, particularly after considering risk.  The evidence is somewhat more positive with respect to the farmer benchmark, even after taking risk into account.  For example, the average advisory return relative to the farmer benchmark is $7 per acre with only a negligible increase in risk.  While this return is small it nonetheless represents a non-trivial increase in net farm income per acre for grain farms in...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2005
URL: http://purl.umn.edu/14775

Advisory Service Marketing Profiles for Corn over 2002-2004
Provedor de dados: 31
Autores: Colino,   Evelyn V.; Cabrini,   Silvina M.; Aulerich,   Nicole M.; Brandenberger,   Tracy L.; Merrin,   Robert P.; Shi,   Wei; Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes.
This report presents marketing profiles and loan deficiency payment/marketing loan gain profiles for the advisory services followed by the AgMAS Project for the 2002, 2003 and 2004 corn crops. Marketing profiles are constructed by plotting the cumulative net amount priced under each program’s set of recommendations throughout the crop year. Loan deficiency payment/marketing loan gain (LDP/MLG) profiles are constructed by plotting the cumulative percentage of the crop on which the LDP/MLG was claimed during the crop year.  Marketing profiles provide information to evaluate the style of advisory services in several ways. The percentage of crop priced is a measure of within-crop year price risk. The higher the proportion of a crop priced, the lower the...
Tipo: Report
Palavras-chave: Agricultural Finance.
Ano: 2006
URL: http://purl.umn.edu/37484

THE PRICING PERFORMANCE OF MARKET ADVISORY SERVICES IN CORN AND SOYBEANS OVER 1995-2001
Provedor de dados: 31
Autores: Irwin,   Scott H.; Martines-Filho,   Joao Gomes; Good,   Darrel L.
The purpose of this research report is to evaluate the pricing performance of market advisory services for the 1995-2001 corn and soybean crops.  The results for 1995-2000 were released in earlier AgMAS research reports, while results for the 2001 crop year are new.  Certain explicit assumptions are made to produce a consistent and comparable set of results across the different advisory programs.  These assumptions are intended to accurately depict "real-world" marketing conditions facing a representative central Illinois corn and soybean farmer.  Several key assumptions are: i) with a few exceptions, the marketing window for a crop year runs from September before harvest through August after harvest, ii) on-farm or commercial physical storage costs, as...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2003
URL: http://purl.umn.edu/14773

PORTFOLIOS OF AGRICULTURAL MARKET ADVISORY SERVICES: HOW MUCH DIVERSIFICATION IS ENOUGH?
Provedor de dados: 31
Autores: Stark,   Brian G.; Cabrini,   Silvina M.; Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes.
Agricultural market advisory services offer specific advice to farmers on how to market their commodities.  Farmers can subscribe to one or more of these services and follow their advice as a way of managing price risk.  According to portfolio theory, a combination of these services may have risk/return benefits compared to individual services.  This report analyzes the potential risk reduction gains from naïve diversification among market advisory services for corn and soybeans.  Results show that increasing the number of (equal-weighting) services reduces portfolio expected risk, but the marginal decrease in risk from adding a new service decreases rapidly with portfolio size.  The risk reduction benefits of naïve diversification among advisory services...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2003
URL: http://purl.umn.edu/14774

DO AGRICULTURAL MARKET ADVISORY SERVICES BEAT THE MARKET? EVIDENCE FROM THE CORN AND SOYBEAN MARKETS OVER 1995-1998
Provedor de dados: 31
Autores: Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes; Jackson,   Thomas E.
The purpose of this paper is to address two basic performance questions for market advisory services: 1) Do market advisory services, on average, outperform an appropriate market benchmark? and 2) Do market advisory  services exhibit persistence in their performance from year-to-year? Data on corn and soybean net price received for advisory services, as reported by the AgMAS Project, are available for the 1995, 1996, 1997 and 1998 crop years. Performance test results suggest that, on average, market advisory services exhibit a small ability to "beat the market" for the 1995 through 1998 corn and soybean crops. It is debatable whether the performance of advisory services also is economically significant. The predictability results provide little evidence...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2000
URL: http://purl.umn.edu/14786

THE PERFORMANCE OF AGRICULTURAL MARKET ADVISORY SERVICES IN MARKETING WHEAT
Provedor de dados: 31
Autores: Jirik,   Mark A.; Irwin,   Scott H.; Good,   Darrel L.; Jackson,   Thomas E.; Martines-Filho,   Joao Gomes.
The purpose of this paper is to investigate the performance of agricultural market advisory services in marketing wheat. Two key performance questions are addressed: 1) Do market advisory services, on average, outperform an appropriate wheat market benchmark? and 2) Do market advisory services exhibit persistence in their wheat performance from year-to-year?  Market advisory service recommendations for wheat are available from the AgMAS Project for the 1995, 1996, 1997 and 1998 marketing years. At least 20 advisory programs are included for each year.  Tests of pricing performance relative to a market benchmark are based on the proportion of programs exceeding the benchmark price and the average percentage difference between the net price of advisory...
Tipo: Conference Paper or Presentation
Palavras-chave: Wheat; Market advisory service; Benchmark; Market efficiency; Pricing performance; Predictability; Crop Production/Industries; Marketing.
Ano: 2000
URL: http://purl.umn.edu/18928

The Pricing Performance of Market Advisory Services in Corn and Soybeans Over 1995-2004: A Non-Technical Summary
Provedor de dados: 31
Autores: Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes; Batts,   Ryan M.
The purpose of this research report is to summarize the pricing performance of professional market advisory services for the 1995-2004 corn and soybean crops. On average, the results show that the frequency of advisory programs pricing in the top-third of the corn price range over 1995-2004 is modest, between 17 and 25%. By far the largest average frequency occurs in the middle third of the corn price range, ranging from 58 to 63%. Price range results   for soybeans are similar to the results for corn. Average differences between 50/50 advisory revenue and benchmarks range from 5 to $7 per acre for market benchmarks and 8 to $12 per acre for farmer benchmarks. The average advisory return relative to the farmer benchmarks is about three percent of average...
Tipo: Report
Palavras-chave: Agricultural Finance.
Ano: 2006
URL: http://purl.umn.edu/37456

Bioenergy and the Rise of Sugarcane-Based Ethanol in Brazil
Provedor de dados: 31
Autores: Martines-Filho,   Joao Gomes; Burnquist,   Heloisa Lee; Vian,   Carlos Eduardo de Freitas.
Tipo: Journal Article
Palavras-chave: Crop Production/Industries; Resource /Energy Economics and Policy; Q42; O54; 013.
Ano: 2006
URL: http://purl.umn.edu/94416

Advisory Service Marketing Profiles for Soybeans over 2002-2004
Provedor de dados: 31
Autores: Colino,   Evelyn V.; Cabrini,   Silvina M.; Aulerich,   Nicole M.; Brandenberger,   Tracy L.; Merrin,   Robert P.; Shi,   Wei; Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes.
This report presents marketing profiles and loan deficiency payment/marketing loan gain profiles for the advisory services followed by the AgMAS Project for the 2002, 2003 and 2004 soybean crops. Marketing profiles are constructed by plotting the cumulative net amount priced under each program’s set of recommendations throughout the crop year. Loan deficiency payment/marketing loan gain (LDP/MLG) profiles are constructed by plotting the cumulative percentage of the crop on which the LDP/MLG was claimed during the crop year.  Marketing profiles provide information to evaluate the style of advisory services in several ways. The percentage of crop priced is a measure of within-crop year price risk. The higher the proportion of a crop priced, the lower the...
Tipo: Report
Palavras-chave: Agricultural Finance.
Ano: 2006
URL: http://purl.umn.edu/37485

THE 1995 THROUGH 1998 PRICING PERFORMANCE OF MARKET ADVISORY SERVICES FOR WHEAT
Provedor de dados: 31
Autores: Jirik,   Mark A.; Irwin,   Scott H.; Good,   Darrel L.; Jackson,   Thomas E.; Jirik,   Mark A.; Martines-Filho,   Joao Gomes.
The purpose of this research report is to present an evaluation of advisory service pricing performance from 1995 through 1998 for wheat. The average net advisory price across all 24 wheat programs in 1995 is $3.79 per bushel, $0.18 above the market benchmark price.  The range in 1995 is $3.01 to $4.71 per bushel.  The average net advisory service price for 23 wheat programs in 1996 is $3.82 per bushel, $0.13 below the market benchmark.  The range in 1996 is $2.74 to $4.94 per bushel.  The average net advisory price for all 20 wheat programs in 1997 is $2.64 per bushel, $0.58 below the market benchmark.  The range in 1997 is $1.34 to $3.90 per bushel.  Finally, the average net advisory price across all 21 services in 1998 is $2.36 per bushel, $0.54 below...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2000
URL: http://purl.umn.edu/14777

1999 PRICING PERFORMANCE OF MARKET ADVISORY SERVIVES FOR WHEAT
Provedor de dados: 31
Autores: Martines-Filho,   Joao Gomes; Good,   Darrel L.; Irwin,   Scott H.
The purpose of this research report is to present an evaluation of advisory service pricing performance in the 1999 crop year for wheat.  Specifically, the average price received by a subscriber to an advisory service is calculated for wheat crop harvested in 1999.  The average net advisory price across all 23 wheat programs in 1999 is $2.64 per bushel, $0.04 below the market benchmark price.  The range of net advisory prices is substantial, with a minimum of $2.18 per bushel and a maximum of $3.38 per bushel.  The average revenue achieved by following an advisory service is $163 per acre, $3.00 less than the market benchmark revenue.  The spread in advisory revenue also is noteworthy, with the difference between the bottom- and top-performing advisory...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2001
URL: http://purl.umn.edu/14788

DO AGRICULTURAL MARKET ADVISORY SERVICES BEAT THE MARKET? EVIDENCE FROM THE WHEAT MARKET OVER 1995-1998
Provedor de dados: 31
Autores: Jirik,   Mark A.; Irwin,   Scott H.; Good,   Darrel L.; Martines-Filho,   Joao Gomes; Jackson,   Thomas E.
The purpose of this report is to address two basic performance questions for market advisory services in wheat: 1) Do market advisory services, on average, outperform an appropriate market benchmark? and 2) Do market advisory services exhibit persistence in their performance from year-to-year?  Data on wheat net price received for advisory services, as reported by the AgMAS Project, are available for the 1995, 1996, 1997 and 1998 crop years.  Not only do market advisory programs in wheat consistently fail to "beat the market," their performance is significantly worse than the market.  On average, market advisory service performance is about $14 per acre below benchmark revenue, an economically non-trivial amount by any reasonable standard. The...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing.
Ano: 2001
URL: http://purl.umn.edu/14778