Risk, Diversification, and Vegetables as an Alternative Crop for Midwestern Agriculture

Mark R. Weimar and Arne Hallam ()

Review of Agricultural Economics, 1988, vol. 10, issue 1, 75-89

Abstract: A quasi-spatial substitution model is developed to investigate the opportunities for Iowa to substitute local vegetable production for that of current distant suppliers. This quasi-spatial equilibrium approach determines not only if crops can be grown profitably at current prices, but whether they would remain profitable after equilibrium price adjustments. Thirteen fresh vegetable crops are studied as alternatives to current row crops such as corn and soybeans. The results indicate that although more than half of these crops could be grown profitably within the state of Iowa, they would replace only about 3,900 acres of current corn and soybean acreage.

Date: 1988
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