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Risk Analysis of Tillage and Crop Rotation Alternatives withWinter Wheat

Published online by Cambridge University Press:  26 January 2015

Jeffery R. Williams ,
Matthew J. Pachta ,
Kraig L. Roozeboom ,
Richard V. Llewelyn ,
Mark M. Claassen  and
Jason S. Bergtold
Jeffery R. Williams
Affiliation:
Department of Agricultural Economics, Kansas State University, Manhattan, Kansas
Matthew J. Pachta
Affiliation:
Department of Agricultural Economics, Kansas State University, Manhattan, Kansas
Kraig L. Roozeboom
Affiliation:
Department of Agronomy, Kansas State University, Manhattan, Kansas
Richard V. Llewelyn
Affiliation:
Department of Agricultural Economics, Kansas State University, Manhattan, Kansas
Mark M. Claassen
Affiliation:
Department of Agronomy, Kansas State University, Manhattan, Kansas
Jason S. Bergtold
Affiliation:
Department of Agricultural Economics, Kansas State University, Manhattan, Kansas
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Abstract

The economic feasibility of soybeans, grain sorghum, and corn in annualrotation with winter wheat using reduced tillage and no-tillage systems inthe Central Great Plains was evaluated, with continuous wheat and grainsorghum also analyzed. Net returns were calculated using simulated yield andprice distributions based on historical yields, two historical annual priceseries, and 2011 costs. Stochastic Efficiency with Respect to a Function wasused to determine the preferred strategies under various risk preferences.The no-till wheat-soybean and reduced-till wheat-soybean systems are thefirst and second most preferred, regardless of the level of riskaversion.

Keywords

corncrop rotationsgrain sorghumno-tillagerisk analysissoybeanswheatQ12Q15
Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 44 , Issue 4 , November 2012 , pp. 561 - 576
Copyright
Copyright © Southern Agricultural Economics Association 2012

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