Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies

Item request has been placed! ×
Item request cannot be made. ×
  Processing Request
  • Additional Information
    • Publication Information:
      American Agricultural Economics Association, 1991.
    • Publication Date:
      1991
    • Abstract:
      This article utilizes a stochastic dynamic programming (SDP) model that considers the state variables of (a) before-tax income, (b) grain storage, (c) quantity of futures position, (d) value of futures position, (e) wheat price, and (f) basis level. Decision variables are monthly cash grain sales and futures market transactions. In comparing the post-sample performance of SDP to other marketing strategies over a four-year period, SDP resulted in $5,961 to $25,021 more wealth than the other strategies considered. Also, these other strategies yielded a standard deviation of after-tax income that was 30% to 621% greater than that from the SDP framework.
    • ISSN:
      00029092
      14678276
    • Rights:
      Copyright 1991 American Agricultural Economics Association
    • Accession Number:
      edsjsr.1242885
  • Citations
    • ABNT:
      RUSSELL TRONSTAD; C. ROBERT TAYLOR. Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies. American Journal of Agricultural Economics, [s. l.], v. 73, n. 1, p. 75, 1991. Disponível em: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.1242885&custid=s8280428. Acesso em: 24 jan. 2020.
    • AMA:
      Russell Tronstad, C. Robert Taylor. Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies. American Journal of Agricultural Economics. 1991;73(1):75. http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.1242885&custid=s8280428. Accessed January 24, 2020.
    • APA:
      Russell Tronstad, & C. Robert Taylor. (1991). Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies. American Journal of Agricultural Economics, 73(1), 75. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.1242885&custid=s8280428
    • Chicago/Turabian: Author-Date:
      Russell Tronstad, and C. Robert Taylor. 1991. “Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies.” American Journal of Agricultural Economics 73 (1): 75. http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.1242885&custid=s8280428.
    • Harvard:
      Russell Tronstad and C. Robert Taylor (1991) ‘Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies’, American Journal of Agricultural Economics, 73(1), p. 75. Available at: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.1242885&custid=s8280428 (Accessed: 24 January 2020).
    • Harvard: Australian:
      Russell Tronstad & C. Robert Taylor 1991, ‘Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies’, American Journal of Agricultural Economics, vol. 73, no. 1, p. 75, viewed 24 January 2020, .
    • MLA:
      Russell Tronstad, and C. Robert Taylor. “Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies.” American Journal of Agricultural Economics, vol. 73, no. 1, 1991, p. 75. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.1242885&custid=s8280428.
    • Chicago/Turabian: Humanities:
      Russell Tronstad, and C. Robert Taylor. “Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies.” American Journal of Agricultural Economics 73, no. 1 (1991): 75. http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.1242885&custid=s8280428.
    • Vancouver/ICMJE:
      Russell Tronstad, C. Robert Taylor. Dynamically Optimal After-Tax Grain Storage, Cash Grain Sale, and Hedging Strategies. American Journal of Agricultural Economics [Internet]. 1991 [cited 2020 Jan 24];73(1):75. Available from: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsjsr&AN=edsjsr.1242885&custid=s8280428