EVALUATION OF CROP INSURANCE PREMIUM RATES FOR GEORGIA AND SOUTH CAROLINA PEACHES

We estimate actuarially fair premium rates for yield insurance for Georgia and South Carolina peaches for comparison to the premium rates established by the Risk Management Agency (RMA) for the 1999 crop. The RMA premium rates varied from county to county, but were identical for all growers in a given county. The estimated premium rates decrease with the grower's expected yield. The RMA rate structure encouraged adverse selection, as premium rates were too low for growers with low expected yields (especially at low coverage levels) and were too high for growers with high expected yields (especially at high coverage levels).adverse selection, crop insurance, peaches, premium rate, yield guarantee, Risk and Uncertainty,

REVENUE INSURANCE FOR GEORGIA AND SOUTH CAROLINA PEACHES

We estimate actuarially fair premium rates for yield and revenue insurance for Georgia and South Carolina peaches. The premium rates for both products decrease at a decreasing rate as the mean farm-level yield increases. In general, the premium rate for revenue insurance exceeds the premium rate for yield insurance for a given coverage level and expected yield. Although the revenue and yield insurance rates differ in a statistical sense, they do not appear to differ in an economic sense except at high coverage levels for growers with very high yields.crop insurance, peaches, revenue insurance, yield insurance, Risk and Uncertainty,

Relationships between synoptic-scale transport and interannual variability of inorganic cations in surface snow at Summit, Greenland: 1992-1996

To fully utilize the long-term chemical records retrieved from central Greenland ice cores, specific relationships between atmospheric circulation and the variability of chemical species in the records need to be better understood. This research examines associations between the variability of surface snow inorganic cation chemistry at Summit, Greenland (collected during 1992–1996 summer field seasons) and changes in air mass transport pathways and source regions, as well as variations in aerosol source strength. Transport patterns and source regions are determined through 10-day isentropic backward air mass trajectories during a 1 month (late May to late June) common season over the 5 years. Changes in the extent of exposed continental surfaces in source regions are evaluated to estimate aerosol-associated calcium and magnesium ion source strength, while forest fire activity in the circumpolar north is investigated to estimate aerosol ammonium ion source strength. During the 1995 common season, 3 times more calcium and magnesium accumulated in the snowpack than the other study years. Also, an increasing trend of ammonium concentration was noted throughout the 5 years. Anomalous transport pathways and velocities were observed during 1995, which likely contributed to the high levels of calcium and magnesium. Increased forest fire activity in North America was concurrent with increased levels of ammonium and potassium, except for 1996, when ion levels were above average and forest fire activity was below average. Because of the ubiquitous nature of soluble ions, we conclude that it is very difficult to establish a quantitative link between the ion content of snow and firn at Summit and changes in aerosol source regions and source strength

A REGIONAL COMPARISON OF RISK-EFFICIENT SOYBEAN MARKETING STRATEGIES

Risk-efficient portfolios from a subset of marketing strategies were identified using Target-MOTAD. Portfolios were generated for Illinois, Arkansas, and South Carolina to determine whether regional price and yield characteristics affected the optimal marketing strategy selection during 1972-1985. The results support previous conclusions that the risk borne when following a combination of marketing strategies was less than the risk of any single marketing strategy examined. The results also show that the marketing strategies representing efficient risk-return combinations for a producer in one region were different from the efficient risk-return combinations for a producer in another region. Therefore, generic marketing advice would have produced results less preferred in one region than in another.Marketing,

A REGIONAL COMPARISON OF U.S. COTTON BASIS PATTERNS

The basis, defined as the cash price minus the futures price, is important when making marketing decisions. The cotton basis is calculated using the July futures price for six major cotton marketing regions in the U.S. for August 1993 to November 1997. Graphs of the average basis for the four complete crop years show that the basis generally followed the expected seasonal pattern. The basis tended to be weakest at harvest and to strengthen later in the crop year. However, a visual inspection showed regional differences in the seasonal pattern. Regional differences in the yearly variability in the basis were also observed. Thus, the usefulness of the average historical basis in predicting the future basis appears to differ depending on the region.Demand and Price Analysis,