Analytical models were developed in this paper to evaluate cost/risk tradeoffs of three alternative procurement strategies in the case of hard red spring (HRS) wheat. Results indicate a naive strategy has the lowest expected cost, but a high probability of not conforming to end-use requirements....

Quality related yield and price losses have had significant impact on producer income and risks, and in some instances exceeded yield and price losses covered by conventional insurance instruments. However, there are no effective third party quality risk transfer mechanisms especially for barley...