Toward An Information System for Guiding Research in the Soybean Production Economy

Abstract

The soybean economy experienced balanced growth in both total demand and total supply since the early 1940's, but in recent years encountered excess production. Since the soybean economy is effectively interdependent with that of corn, cotton, and rice, programs for these commodities must be tailored to current and potential conditions relating to soybeans. Detailed analyses of sources of increased production, of associated inter-regional effects, and of production alternatives in the soybean area are needed to provide basic information for formulation of new programs. My primary purpose is to discuss the need for expanded research on soybean production patterns. However, most of the emphasis, herein is on developing a comprehensive information framework as an initial step to accomplish the research task.

A Simultaneous Equation Approach to Production Response: Delta Region

“…Effective policy and program decisions need continuing research as input in formulating and evaluating these decisions. Detailed analyses of inter-and intraregjonal 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]. This article reports an initial attempt to identify and estimate the underlying relationships between the production of soybeans and other crops and especially as influenced by consequences of alternative courses of policy action.…”

“…This intraregional interdependence among crops, and of contrasts with the usual market applications, where production alternatives involving soybeans, are prices and quantities are assumed to be jointly deterespecially needed because it is no longer certain that mined. an expanding demand will provide a safety valve for soybean and related commodity programs [4,9] . Equation I.…”