IMPLICATIONS OF THE 2002 U.S. FARM ACT FOR WORLD AGRICULTURE

The purpose of this paper is to discuss the implications of the Farm Security and Rural Investment Act (FSRIA) of 2002 for U.S. agriculture and its subsequent impact on world agricultural prices and world trade. In order to effectively illustrate the implications of the 2002 Act it is important to consider it in the context of the changes already made in previous farm acts. As the paper develops, many of the changes in U.S. cropping patterns were already captured by the policy changes occurring under the 1996 Federal Agricultural Improvement and Reform (FAIR) Act. The estimated impact of the 2002 Act on commodity production is minimal and, therefore, estimated price changes are relatively small. In the conclusions is a discussion on how trends in U.S. farm policy tend to reflect international agricultural policy, an important observation as World Trade Organization (WTO) negotiations are anticipated. Policy changes in the 2002 Act are discussed in detail followed by a description of how the policy instruments are incorporated in the Food and Agricultural Policy Research Institute's (FAPRI) U.S. crops model. Implications of the policy changes for the 2002 Act are discussed relative to a continuation of the FAIR Act. A brief review of the possible implications for longer-term trade, production, consumption, and prices are also included. Finally, some observations are included that trace the evolution of U.S. farm programs, especially the trend toward designs in the European Union.Agricultural and Food Policy,

Mississippi River Research Conclusions Executive Summary

Briefing paper requested by Senator Bond detailing the conclusions from the Mississippi River research to date.Agricultural and Food Policy, Environmental Economics and Policy,

Implications of the 2002 U.S. Farm Act for World Agriculture

This paper discusses the implications of the Farm Security and Rural Investment Act of 2002 for U.S. agriculture and its subsequent impact on world agricultural prices and world trade

Trend Yield Analysis and Yield Growth Assumptions

Discusses the formulation of assumptions pertaining to yield growth in the crop sector used in developing market projections

Testimony on the Value of the Mississippi River for U.S. Agriculture: Presented to the Mississippi River Caucus Washington D.C.

Presented to the Mississippi River Caucus Washington D.C.The Mississippi River is the most critical artery of the inland waterway system, supporting between 50 and 60 percent of total U.S. corn exports and 30 to 45 percent of total U.S. soybean exports. In calendar year 2002, 1.1 billion bushels of corn, 389 million bushels of soybeans, and 32 million bushels of wheat were transported to the Gulf via the Mississippi River

The Iowa Baseline

Each year the FAPRl analysts conduct a baseline projection for U.S. and international agriculture. This baseline is unlike the traditional forecast in that i.t does not necessarily represent the most likely scenario for future events