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Journal ArticleDOI

Policy Concerns of Midwestern Grain Producers for the 2012 Farm Bill

01 Jan 2012-American Journal of Agricultural Economics (Oxford University Press)-Vol. 94, Iss: 2, pp 515-521
About: This article is published in American Journal of Agricultural Economics.The article was published on 2012-01-01. It has received 3 citations till now. The article focuses on the topics: Crop insurance & Cash crop.
Citations
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Journal ArticleDOI
TL;DR: From the overall analysis, it shows that the ANN model can predict PAR accurately, especially for overcast sky and clear sky conditions, and the parameters related to water vapor do not improve the prediction result significantly.
Abstract: The relationship between hourly photosynthetically active radiation (PAR) and the global solar radiation (R s ) was analyzed from data gathered over 3 years at Bondville, IL, and Sioux Falls, SD, Midwestern USA. These data were used to determine temporal variability of the PAR fraction and its dependence on different sky conditions, which were defined by the clearness index. Meanwhile, models based on artificial neural networks (ANNs) were established for predicting hourly PAR. The performance of the proposed models was compared with four existing conventional regression models in terms of the normalized root mean square error (NRMSE), the coefficient of determination (r (2)), the mean percentage error (MPE), and the relative standard error (RSE). From the overall analysis, it shows that the ANN model can predict PAR accurately, especially for overcast sky and clear sky conditions. Meanwhile, the parameters related to water vapor do not improve the prediction result significantly.

21 citations


Cites background from "Policy Concerns of Midwestern Grain..."

  • ...5 billion bushels produced annually (Paulson and Schnitkey 2012)....

    [...]

  • ...For example, Illinois currently ranks the second in US corn production with more than 1.5 billion bushels produced annually (Paulson and Schnitkey 2012)....

    [...]

Journal ArticleDOI
TL;DR: Wang et al. as discussed by the authors systematically sort out the progress of agricultural technology diffusion-related research based on a proposed research framework of technology diffusion in agricultural science and technology parks, and its characteristics are analyzed.
Abstract: With the rapid development of agricultural technology in China, a new model of agricultural technology diffusion, represented by agricultural science and technology parks, has been formed. We systematically sort out the progress of agricultural technology diffusion-related research based on a proposed research framework of technology diffusion in agricultural science and technology parks. The growth mechanism of agricultural technology poles, agricultural technology diffusion system, and its characteristics are analyzed. An index system of technology diffusion environment evaluation is summarized. From the perspective of the “basic” paradigm, we discuss the characteristics of the time process (diffusion stage, diffusion speed, diffusion breadth) and the spatial process (diffusion effect, spatial pattern) of technology diffusion in agricultural science and technology parks and their influence mechanisms. The fundamental law of “point-axis” diffusion of technology diffusion in the park is summarized. From the perspective of the “adoption” paradigm, we analyzed the influencing factors and mechanisms of farmers’ technology adoption. The effects of different environments and technologies with different attributes on farmers’ adoption behavior are explored. Based on the latest research results, we summarized new business agents’ technology adoption behaviors and mechanisms. Finally, we point out the issues that need to be further explored in studying the technology diffusion of agricultural innovations.

1 citations

Book ChapterDOI
01 Jan 2022
References
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Journal ArticleDOI
TL;DR: In this paper, the authors developed a stochastic model of the Average Crop Revenue Election (ACRE) program, which offers revenue-based commodity payments under the 2008 Farm Act.
Abstract: This article develops a stochastic model of the Average Crop Revenue Election (ACRE) program, which offers revenue-based commodity payments under the 2008 Farm Act. Our analysis shows that adding ACRE revenue payments to gross revenue reduces downside revenue risk for corn, wheat, and soybean farmers in 2009 on average by 16%, 21%, and 23%, respectively. Results indicate that farms with higher expected yields and lower variance of yields tend to benefit the most from ACRE. Integrating federal crop insurance with ACRE lowers insurance premiums from 10% to 40%, depending on the crop and location.

31 citations

Journal ArticleDOI
TL;DR: In this paper, the interaction and overlap among crop revenue insurance, Supplemental Revenue Assistance (SURE), and Average Crop Revenue Election (ACRE) was examined for Illinois and Kansas farms.
Abstract: Farm-level data from Illinois and Kansas for the 1991–2007 crops are used to examine the interaction and overlap among crop revenue insurance, Supplemental Revenue Assistance (SURE), and Average Crop Revenue Election (ACRE). Compared with 75% Crop Revenue Coverage Insurance (75% CRCP), ACRE provides more payments and has a greater impact on minimum farm revenue for the Illinois farms. In contrast, for the Kansas farms, 75% CRCP has the greater impact. SURE’s relative impact on the Illinois and Kansas farms depends on the metric. The overlap in payments from ACRE and 75% CRCP resulting from covering the same part of the revenue risk distribution is estimated to be less than 5% of ACRE payments. Several proposals for improving the farm safety net are discussed.

20 citations

Posted Content
TL;DR: In this paper, the authors proposed a revenue assurance program for the Food, Conservation and Energy Act of 2008, where farmers are offered the choice of the following program options: marketing loan and counter-cyclical payments even when revenue is above average because high yields more than offset low prices.
Abstract: Farm support programs based on price have been an integral part of farm policy since the 1930s. However, two concerns have emerged with existing price–based programs. One is that the current marketing loan and counter–cyclical programs provide little protection when yields are low. Widespread reduction in yields raises prices and reduces or eliminates payments from these two programs while localized reduction in yields reduce marketing loan payments for affected individual farms because marketing loan payments are based on production. The second concern is that farmers can receive marketing loan and counter–cyclical payments even when revenue is above average because high yields more than offset low prices. After decades of debate, a revenue assurance program finally became a reality in the new Food, Conservation and Energy Act of 2008. Specifically, farmers are offered the choice of the following program options:

18 citations

Journal ArticleDOI
TL;DR: In this article, the effect of the 2008 Farm Bill's average crop revenue election (ACRE) program on the risk-reducing effectiveness of crop insurance products was analyzed. And the outcomes were evaluated using certainty-equivalent wealth based on different risk premium assumptions.
Abstract: Purpose – The purpose of this paper is to analyze the effect of the 2008 Farm Bill's average crop revenue election (ACRE) program on the risk‐reducing effectiveness of crop insurance products.Design/methodology/approach – Three crop/region combinations are examined, representing regions with both high and low price‐yield correlation regions. Actual production history (APH) and crop revenue coverage (CRC) insurance instruments are considered separately under the 2002 Farm Bill and under ACRE. Monte Carlo simulations, combined with the copula approach, are used to simulate net wealth distributions and to calculate the corresponding expected utilities. The outcomes are evaluated using certainty‐equivalent wealth based on different risk premium assumptions.Findings – Crop insurance contracts appear to be more effective under the 2002 Farm Bill than under ACRE, especially for crops characterized by low yield‐price correlation. CRC insurance is found to be more effective than APH insurance for all crop/region c...

15 citations

Posted Content
TL;DR: In this article, an examination of how the new mandates will be implemented shows that biofuel producers will receive little or no additional benefit from tax credits and import tariffs, and that ethanol import tariffs will continue to provide U.S. corn ethanol producers with a cost advantage over imported Brazilian sugarcane ethanol until at least 2013 when the demand for ethanol to meet the noncellulosic advanced biofuel mandate starts to increase.
Abstract: Expanded mandates under the Renewable Fuel Standard provide ethanol and biodiesel producers a guaranteed future market at volumes that exceed what they have produced in the past. Despite having these mandates in place, biofuel producers continue to support tax credits and ethanol import tariffs. An examination of how the new mandates will be implemented shows that biofuel producers will receive little or no additional benefit from tax credits. Ethanol import tariffs will continue to provide U.S. corn ethanol producers a cost advantage over imported Brazilian sugarcane ethanol until at least 2013 when the demand for sugarcane ethanol to meet the noncellulosic advanced biofuel mandate starts to increase.

13 citations