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| Registros recuperados: 103 | |
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| Brorsen, B. Wade; Anderson, Kim B.. |
| One maxim that has been circulating among farmers is that most farmers sell in the lower third of the market. This maxim is soundly rejected using data from Oklahoma elevators. In fact, roughly half of producers sell in the upper third of the market. Thus, there does not seem to be a great need for producers to hire a market advisor to do their marketing for them. But, some farmers do store longer than is optimal and they could be encouraged to sell sooner after harvest. In the short run, farmers sold after price increases and held after price decreases. Price movements in the days after a large number of sales were no different than price movements after few sales. While farmers are noise traders in the short run, it does appear that they are responding... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/19065 |
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| Shapiro, Barry Ira; Brorsen, B. Wade; Doster, D. Howard. |
| Double-cropping of soybeans and wheat is often promoted by extension personnel. This paper seeks to explain how the decision to adopt double-cropping is made, using a Tobit regression model. Tobit makes use of more of the information in the data set than do logit or probit and explains not only the decision to double-crop but also the rate of adoption. The paper considers factors such as profit and risk perceptions and risk which have not been included in the past models used to explain adoption of technology. The results show that risk perception is important. Contrary to the findings of some other adoption studies, this decision is not influenced by human capital factors. The farmers who double-crop are more highly leveraged and appear to do so... |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1992 |
URL: http://purl.umn.edu/29630 |
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| Brorsen, B. Wade; Anderson, Kim B.. |
| Extension marketing economists were surveyed to determine whether they are using available research results and whether research is being conducted on topics relevant to extension marketing economists. In some cases, the beliefs of extension marketing economists differ from recent research results. The research topics recommended by extension economists and the topics of papers presented at the 1994-97 annual NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management are well matched. While relevant research is being done, many extension economists desire marketing strategies that both reduce risk and increase income. Research, however, has not produced such strategies. |
| Tipo: Journal Article |
Palavras-chave: Efficient markets; Extension; Farmer marketing; Outlook; Research; Risk; Teaching/Communication/Extension/Profession. |
| Ano: 1999 |
URL: http://purl.umn.edu/14726 |
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| Dameus, Alix; Brorsen, B. Wade; Sukhdial, Kullapapruk Piewthongngam; Richter, Francisca G.-C.. |
| A Cox nonnested test with parametric bootstrap is developed to select between the linearized version of the First Difference Almost Ideal Demand System (FDAIDS) and the Rotterdam model. The Cox test with parametric bootstrap is expected to be more powerful than the various orthodox tests used in past research. The new approach is then used for U. S. meat demand (beef, pork, and chicken) and compared to results obtained with an orthodox test. The orthodox test gives inconsistent results. In contrast, under the same varied conditions, the Cox test with parametric bootstrap consistently indicates that the Rotterdam model is preferred to the FDAIDS. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2001 |
URL: http://purl.umn.edu/20453 |
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| Yoon, Byung-Sam; Brorsen, B. Wade. |
| Both market advisors and researchers have often suggested multiyear rollover hedging as a way to increase producer returns. This study determines whether rollover hedging can increase expected returns for producers. For rollover hedging to increase expected returns, futures prices must follow a mean-reverting process. To test for the existence of mean reversion in agricultural commodity prices, this study uses a longer set of price data and a wider range of test procedures than past research. With the use of both the return predictability test from long-horizon regression and the variance ratio test, we find that mean reversion does not exist in futures prices for corn, wheat, soybean, soybean oil, and soybean meal. The findings are consistent with... |
| Tipo: Journal Article |
Palavras-chave: Market efficiency; Mean reversion; Random walk; Rollover hedging; Agricultural Finance; Risk and Uncertainty; Q13; G13. |
| Ano: 2005 |
URL: http://purl.umn.edu/43713 |
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| Kim, Hyun Seok; Brorsen, B. Wade. |
| Previous studies suggest that producers tend to store crops longer than makes economic sense. Since decisions to sell are irreversible, there can be a real option value from waiting to sell grain. This real option value may explain why producers appear to store too long. A seasonal mean reversion model is estimated that allows prices to be a random walk within a season, but mean reverting across crop years. Unless prices are extremely low, it is optimal for producers to sell before the mean reversion begins. Thus, the real option value of waiting cannot explain why producers seem to store at a loss in the latter part of crop years. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Real option value; Seasonal mean reversion; Agricultural Finance. |
| Ano: 2008 |
URL: http://purl.umn.edu/37602 |
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| Kidd, Willis V.; Brorsen, B. Wade. |
| Returns to managed futures funds and Commodity Trading Advisors (CTAs) have decreased dramatically during the last several years. Since these funds overwhelmingly use technical analysis, this research examines futures prices to determine if there is evidence of a structural change in futures price movements that could explain the reduction in fund returns. Bootstrap tests are used to test significance of a change in statistics related to daily returns, close-to-open changes, breakaway gaps, and serial correlation. Results indicate that several statistics have changed across a broad range of commodities indicating futures price fluctuations have changed. The lower price volatility, decreased price reaction time, and decreased serial correlation may partly... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/19066 |
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| Kidd, Willis V.; Brorsen, B. Wade. |
| Practioners Abstract: Returns to managed futures funds and Commodity Trading Advisors (CTAs) have decreased dramatically during the last several years. Since these funds overwhelmingly use technical analysis, this research examines futures prices to determine if there is evidence of a structural change in futures price movements that could explain the reduction in fund returns. Bootstrap tests are used to test significance of a change in statistics related to daily returns, close-to-open changes, breakaway gaps, and serial correlation. Results indicate that several statistics have changed across a broad range of commodities indicating futures price fluctuations have changed. The lower price volatility, decreased price reaction time, and decreased... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/19059 |
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| Zakrzewicz, Christopher J.; Brorsen, B. Wade; Briggeman, Brian C.. |
| The value of land dominates the financial structure of most American agricultural production firms, and land values are an important factor in long-term agricultural planning and risk management. As the primary source of collateral for farm loans, farmland values have significant implications for both producers as well as bankers financing agricultural loans. The Federal Reserve Bank of Kansas City’s Survey of Agricultural Credit Conditions is an expert opinion survey in which agricultural bankers provide land value forecasts. As the survey has drawn increased attention, the survey has drawn criticism regarding its use qualitative data to forecast land values. Our research examines the value of the survey data with respect to its ability to forecast... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Farmland; Forecasting; Land values; Federal Reserve Bank; Agribusiness; Financial Economics. |
| Ano: 2010 |
URL: http://purl.umn.edu/61758 |
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| Cunningham, Lewis T., III; Brorsen, B. Wade; Anderson, Kim B.. |
| Years of research have been dedicated to determining the best time for producers to sell their commodities. Researchers have developed basis models, market efficiency tests, hedging/risk models, price forecasting models, and many other models in an attempt to help producers. There is a vast amount of material on how economists believe that a rational producer should act and react in the market place. However, there is little research on how producers actually sell commodities. This paper first measures the extent to which producers display an active or mechanical marketing style using individual farmer sales. Next, tests of performance persistence are conducted to determine if there is any advantage to an active marketing style. The results show that... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Crop Production/Industries; Marketing. |
| Ano: 2004 |
URL: http://purl.umn.edu/19031 |
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| Zakrzewicz, Christopher J.; Brorsen, B. Wade; Briggeman, Brian C.. |
| Consistent and reliable data on farmland values is critical to assessing the overall financial health of agricultural producers. However, little is known about the idiosyncrasies and similarities of standard land value data sources – U.S. Department of Agriculture, Federal Reserve Bank land value surveys, and transaction prices. All three data sources are highly correlated, but transaction prices tend to be higher, especially for irrigated cropland and ranchland. USDA land values are reported as representing land values on January first, but instead they more closely represent first and second quarter land values according to a multi-state comparison to changes in quarterly Federal Reserve land values. Given the finding that first quarter Federal Reserve... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Land Economics/Use. |
| Ano: 2011 |
URL: http://purl.umn.edu/103758 |
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| Registros recuperados: 103 | |
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