Scholarly
    Communications Project


Document Type:Master's Thesis
Name:Carrie M. Kennedy
Email address:CMKennedy@worldnet.att.net
URN:1997/00081
Title:THE ROLE OF INFORMATION IN AGRICULTURAL MARKETING DECISIONS; USING VIRGINIAšS SOFT RED WINTER WHEAT, GRAIN SORGHUM AND BARLEY, AND COTTON MARKETS TO ILLUSTRATE THREE DIFFERENT ASPECTS
Degree:Masters of Science
Department:Agricultural and Applied Economics
Committee Chair: Eluned Jones
Chair's email:eluned@vt.edu
Committee\ Members:
Keywords:Expectations, Supply, Demand, Quality, Prices, Market Information
Date of defense:January 27, 1997
Availability:Release the entire work for Virginia Tech access only.
After one year release worldwide only with written permission of the student and the advisory committee chair.

Abstract:

THE ROLE OF INFORMATION IN AGRICULTURAL MARKETING DECISIONS; USING VIRGINIAšS SOFT RED WINTER WHEAT, GRAIN SORGHUM AND BARLEY, AND COTTON MARKETS TO ILLUSTRATE THREE DIFFERENT ASPECTS Carrie M. Kennedy (ABSTRACT) Participants in the agricultural marketing system include commodity producers, grain elevators, feed processors, flour millers, bakers, exporters, and retail outlets. Every firm in the marketing system is concerned with creating expectations regarding supply, demand, quality, and price in the physical market. The role of market information plays in the agricultural marketing system is considered in the three chapters of this thesis. Chapters 1 and 2 were completed with financial support from the Virginia Small Grains Board and the Virginia Agricultural Council. The futures market is used by a number of firms, private and public, to create price expectations. Firms rely on the futures market to provide market signals and manage risk. Chapter 1 examines what might happen in the soft red winter wheat marketing system if the price signals from the futures market become less accurate because Federal grades fail to account for all of the grain characteristics desired by millers and bakers. Expected returns from competing crops are a factor in a produceršs decision-making process. Chapter 2 examines the role first-level handlers play in expanding the market share of grain sorghum and barley in Virginia. The objective of the first-level handler survey was to determine if factors, such as limited market information, prevented the expansion of the grain sorghum and barley markets. Contrary to a priori expectations that price risk would be the limiting factor, results showed that inconsistent local supply was the main barrier to the expansion of grain sorghum and barley. Chapter 3 is an example of a pricing guide written for Virginia cotton producers. It uses a balance sheet approach, which illustrates how information regarding the cotton crop can be translated into price expectations.

List of Attached Files

BACK.PDF CH1.PDF CH2.PDF
CH3.PDF FRONT.PDF SEC2_6.PDF
SEC3_2_1.PDF SEC3_2_2.PDF SEC3_2_3.PDF

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