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Effects of the 1986 Tax Reform Act on Grain Marketing Decisions: A Case Study of Winter Wheat Producers

Russell Tronstad and C. Robert Taylor

Review of Agricultural Economics, 1989, vol. 11, issue 2, 309-320

Abstract: Dynamic programming is utilized to derive an optimal monthly marketing-storage decision rule for winter wheat. Tax years before (1986) and after (1987 and 1988) the 1986 Tax Reform Act are analyzed in conjunction with the state variables of grain price, storage and before-tax income. In general, results indicate that it is better for producers to store less winter wheat now than before passage of the 1986 Tax Reform Act. This is especially true for winter wheat prices between $2.75 and $3.75 per bushel.

Date: 1989
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