Soybeans occupy the unique position of common denominator in crop production for much of the Eastern half of the U.S. The interdependence between the soybean economy and those of corn, cotton, and rice means that policy changes directed toward one crop can have very decided effects upon the others.Effective policy and program decisions need continuing research as input in formulating and evaluating these decisions. Detailed analyses of inter- and intraregional interdependence among crops, and of production alternatives involving soybeans, are especially needed because it is no longer certain that an expanding demand will provide a safety valve for soybean and related commodity programs [4,9].
H4IG FIJM S ITUA~ro.s rofi t 1.a..cimizing f'le.ns ~ffe c ts of Improved Over all M anagement ..!.ffect s of !.esource Taring c-PTER VII: OPTIHUr-: L J.., IT" OU SI DE AI ~o 1ULTI LE HOG SY T MS ffec ts of .fan g eme t Ai d ffe cts of Cr pital Lendin~ Implic tiuns of Aid Provisions
Flow‐of‐funds accounts and component sources‐and‐uses‐of‐funds statements relate changes in balance sheet accounts to income statements, describing movement from one balance sheet to the next. While the Federal Reserve System compiles a farm business sector sources‐and‐uses‐of‐funds statement consistent with and part of the national flow‐of‐funds accounts, the statement is not definitionally and conceptually consistent with published farm income and balance sheet accounts. An alternative farm sector sources‐and‐uses‐of‐funds statement is proposed that contains these features, and its potential applications and extensions are delineated.
Traditionally, the economics of farm number adjustments have been inferred from the relative positions of firms on a longrun average cost curve. The steep slope of the left portion of the commonly drawn curve suggests demise of the smaller units as fast as off-farm and inter-farm markets can absorb their labor and land resources. On the less steeply declining middle portion of the curve, insufficient volume of output (income) is suggested as a cause of firms quitting. The argument is supported by the fact that most empirical estimates do not show the long-run cost curve rising at large outputs. This places downward pressure on product prices, reducing per unit margins, and creating income problems for the middle group of firms. Adjustments in the farming sector are then viewed as constrained by the limitations of factor and product markets, as well as by values and traditions of farm people.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.