Indenture, Marshall County, MS, 23 October 1847

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Receipt, 6 February 1850

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Calculating Cost Savings Per Acre When Harvest Days are Stochastic

New cotton harvesters have been introduced that have higher performance rate as well as eliminate extra labor and accompanying equipment. The new machines build partial modules on board the harvester. Higher field efficiency (performance rate) lets a farmers harvest his cotton in a shorter period. Precipitation causes cotton losses in both quality and quantity of the cotton. This paper seeks to measure cost per acre when harvest days are stochastic by using historic precipitation data. Cost per acre will include the cost of losses from a loss function from precipitation. Cost per acre will be adjusted for conventional versus new technology by quantifying the losses that contribute to extra costs of extended harvesting.Cotton, harvester, fieldwork days, stochastic, cost per acre, Agribusiness, Farm Management,

The Impact of the Average Crop Revenue Election (ACRE) Program on the Effectiveness of Crop Insurance

This paper analyzes the effect of the ACRE program adopted in the final version of the 2007 Farm Bill on the risk-reducing effectiveness of insurance products. To the best of our knowledge this is a first attempt to analyze the effect of the ACRE program on the risk management decisions of crop producers. In particular, we compare the risk-reducing effectiveness of the two most common insurance contracts — APH and CRC — under the provisions of the 2002 Farm Bill and under ACRE program for representative cotton producer in Texas and corn producer in Illinois. These particular crop/region combinations are selected so as to represent situations of low and high price-yield correlations, respectively.Crop insurance, Farm Bill, ACRE, Agribusiness, Agricultural and Food Policy, Agricultural Finance, Crop Production/Industries, Risk and Uncertainty,