The Australian Wheat Board (AWB) and Canadian Wheat Board (CWB) have attracted attention recently because they are two of the largest state trading enterprises (STEs) engaged in agricultural trade. They have traditionally been viewed as nearly sister agencies. Among major STEs in the world...

This is one of two papers commissioned by the International Agricultural Trade Research Consortium on various aspects related to the agricultural sector of a prospective North American Free Trade Agreement. The companion paper to this one has been prepared by a working group chaired by Thomas...

We estimate five regional price determination models, four for regions in California, and one for Florida. We compare our regional California estimation results to those of an aggregate, state-level model. We use our estimation results to address three questions of interest to the strawberry...

Genetic modification of crops has revolutionized food production, but it remains controversial due to food safety concerns. A recent food safety scare provides a natural experiment on the market's willingness to accept an increase in perceived risk from genetically modified (GM) food. We analyze...

Replaced with revised version of paper 07/13/04.

China is the world's largest producer and consumer of food. In the past, China's governmental policy advocated regional self-sufficiency in agricultural production, and it is generally believed that regional self-sufficiency was enforced at high economic cost. However, this changed with the 1979...

This paper investigates the pricing efficiency and hedging effectiveness of the Winnipeg barley futures market, using the Chicago corn futures market as a norm. Several tests of pricing efficiency were conducted and the stability of the basis was studied. The barley futures market operates in a...