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Call number: LD2668 .T4 1932 H41

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The primary purpose of this thesis was to familiarize the writer with some of the factors to be considered in a study of wheat prices. It seemed advisable to survey the subject rather than concentrate study on a particular phase. Therefore, the material presented herein includes elements beyond the scope of strict wheat price analysis. Consideration has been given to the following topics: aspects relating to a study of prices, causation of prices, the marketing of wheat, price determination in the marketing process, wheat prices and the general price level, devaluation and the price of wheat in five countries, the relation of supply and production to price, differential price behavior among the classes of wheat, seasonal variation in wheat prices, prices of wheat products, international trade in wheat, foreign, agricultural policies in regard to wheat, and wheat production. / Master of Science

Call number: LD2668 .T4 1984 M335 / Master of Science

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Price premiums and discounts are currently paid for various classes of wheat in the US marketplace. These premiums and the known heterogeneity of grain protein across landscapes beg the question of whether grain could be separated on the farm to maximize revenues. Theoretically, the concavity or convexity of a price function defines if an opportunity to segregate grain exists. Although this is true, prices in the market place are paid in stepped increments, which result in unique revenue maximizing solutions. This study was conducted to determine the economic feasibility of segregating wheat by protein content on the combine harvester during harvest. Both web-based and spreadsheet calculators were built to predict the best point in which to segregate a crop at, as well as define the protein level and quantity of each segregated volume of grain. The costs of segregation vary by operation, but fixed, variable, and opportunity costs are estimated to total $0.1739 bu⁻¹ if segregation is used every year. Revenue gains varied with the price schedule, field mean protein value, and the standard deviation of protein. Revenue gains increased in proportion to the size of a price step in a price schedule. Soft white winter wheat showed the greatest potential for segregation; however, on average yearly expected premiums are less than $.05 bu⁻¹, well below total variable costs. Price schedules occur which allow for profits of over $1.00 bu⁻¹ from segregation, although these are not the norm. Historically, on-combine grain segregation would not be economically feasible for the average producer. However, under certain supply and demand conditions, premiums occur that would make on-combine grain segregation profitable. Individuals will have to evaluate the feasibility on a case-by-case basis. / Graduation date: 2013

Wheat is an extremely important agricultural commodity, due to its crucial role in everyday nutrition, food security, and in terms of incomes of a large body of farmers worldwide. This study examines the dynamics of wheat prices in Turkey in a framework that allows for regime switching. Due to their simplicity, threshold autoregressive (TAR) models are used to capture the effects of factors such as transaction costs and other institutional arrangements that generate discontinuous adjustment to equilibrium price level. The results are compared with standard linear model estimations. Results indicate that there is strong evidence for asymmetric adjustment of wheat prices in Turkey to the equilibrium price, hence models allowing for regime switching are more preferable over the linear ones. However, the diagnostics of the TAR model reveal that specification of a TAR model allowing for more than two regimes, or a smooth transition autoregressive (STAR) model that allows for smooth transition through a continuum of regimes might be more appropriate.