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| Zhang, Rui (Carolyn); Houston, Jack E.; Vedenov, Dmitry V.; Barnett, Barry J.. |
| The high proportion of government payments in total crop farm income and the purchase of subsidized crop insurance have changed the income distribution of U.S. crop farmers. As a result, the risk management behaviors of U.S. crop farmers are affected by these programs in terms of the use of private market risk management tools, such as futures and options. The objective of this research is to investigate the effects of the government payments and federal crop insurance policies on the usage of futures and options by crop farmers from a downside risk management perspective. Results in this study suggest that both yield insurance and revenue insurance creates more hedging demands for futures. But revenue insurance decreases the buying of put options at the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural and Food Policy; Agricultural Finance. |
| Ano: 2007 |
URL: http://purl.umn.edu/9911 |
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| Zhang, Rui (Carolyn); Houston, Jack E.. |
| This study investigates the effects of South American production (SAP) and futures volatility on the soybean price dynamics in terms of their effects on the basis. The results of the econometric model showed that both South American production and futures volatility of the nearby contract have negative effects on the basis though in the forecast model, lagged values of these two factors failed to predict basis change in the future. If information about the change of the expected SAP or futures volatility is available, then the model can predict the changes in basis. This information would be helpful for hedgers to decide the time to lift their hedge. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Crop Production/Industries; Marketing. |
| Ano: 2005 |
URL: http://purl.umn.edu/19038 |
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