Commercial Wheat Production: World Market, U.S. Production Centers, Costs and Returns Analysis

P. Weisgerber

No 324004, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: A glut in the world wheat supply has caused several major exporting nations to adopt measures in supply control. Farm program restrictions on permitted wheat acres have influenced costs and returns to U.S. producers, particularly in the wheat specialty areas. Financial earnings of a program participant on a viable wheat farm are of considerable interest to formulators of farm policy and to U.S. legislators. Appropriate financial returns were allocated to production resources other than the farm operator's labor and entrepreneurship. The latter inputs were then accorded the residual return from the farm business. A return to the ownership of land used in wheat production was also calculated. In the period 1967-69, average annual returns to operator's labor and entrepreneurship ranged from $8,232 (Central Plains) to $14,666 (Pacific Northwest). The net annual benefits of land ownership ranged from 2.2 to 9.1 percent of the market value of the land.

Keywords: Agricultural and Food Policy; Crop Production/Industries; Farm Management; Financial Economics; International Relations/Trade; Land Economics/Use; Marketing; Production Economics (search for similar items in EconPapers)
Pages: 33
Date: 1971-09
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:324004

DOI: 10.22004/ag.econ.324004

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