This study develops a simple model to forecast the basis for corn in a specific region. Improved forecasts can improve hedging decisions. Basis behavior, however, depends on explanatory variables that are themselves difficult to forecast with precision. Thi limits the u efulness of the ba is...

Short- and long-run Hicksian and Marshallian elasticities are estimated, along with Morishima elasticities of substitution, using a restricted profit function and a series of decomposition equations. Convexity in prices and concavity in quasi-fixed factors of the restricted profit function are...

This paper examines the forces that affected the Northeastern fresh tomato supply in the post-WWII period. A simultaneous equation model is developed which incorporates a composite price expectation model, supply response, and factors affecting regional price. Findings reveal that data are...

The thrust of this paper is to identify and measure structural changes in the U.S. demand for sugar and to derive subsequent implications for import restriction policies. Empirical results indicate that changes in consumer preferences and the availability of closer and cheaper sweeteners in food...

In this paper we estimate the price and income elasticities for five sweet spreads using a two-stage budgeting procedure. The first stage modeled the consumer's budget decision as a Tobit model, where total sweet spread expenditures are based on income and demographic variables. The second...

A new interpretation of commodity futures price theory is evaluated because, currently, many products exhibit price behavior which cannot be explained with existing theory. A method for classifying products according to the particular price theory relevant to them is provided. The classification...