Are U.S. Corn and Soybeans Becoming More Drought Tolerant?

Tian Yu and Bruce A. Babcock

No 54147, Hebrew University of Jerusalem Archive from Hebrew University of Jerusalem

Abstract: An objective drought index that measures the dry and hot conditions adversely affecting crop yields is used in a regression analysis to test whether corn and soybeans have become more drought tolerant. Results indicate that corn yield losses, whether measured in quantity terms or as a percentage of mean yield, have decreased. The null hypothesis that the absolute level of soybean yield losses due to drought has not changed cannot be rejected. But yield losses in percentage terms have decreased over time. Because drought is the primary cause of yield loss in the U.S. crop insurance program and because U.S. crop insurance rates assume that percentage of yield losses are constant over time, these results indicate that U.S. crop insurance rates in the Corn Belt are too high.

Keywords: Crop Production/Industries; Productivity Analysis; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 42
Date: 2009-10
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Persistent link: https://EconPapers.repec.org/RePEc:ags:hebarc:54147

DOI: 10.22004/ag.econ.54147

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