Acreage Responses to Expected Revenues and Price Risk for Minor Oilseeds and Program Crops in the Northern Plains

Abstract

Wheat, barely, flaxseed, and oilseed sunflower acreage respond to different economic variables. Wheat and barely acreage must be divided among program-complying, program-planted, and nonprogram-planted acreage because these categories respond to different variables and respond to own expected-revenue and price-risk variables in opposite ways. Flaxseed, sunflower, and nonprogram-planted acreage of wheat and barley have highly significant, positive responses to their own expected revenue and negative responses to their own-price risk. Flaxseed and sunflower acreage have been more responsive to their lagged values than to expected revenues for wheat.

Keywords

• acreage supply responses
• barley
• censored regression
• flaxseed
• government programs
• sunflower
• wheat