Abstract
Because corn (Zea mays L.) and soybeans [Glycine max (L.) Merr.] are the top two cash crops in the USA, the choice between planting corn and soybeans plays a crucial role in determining the impact of policy changes on the U.S. agricultural sector. This study examined the joint decisionmaking process between corn and soybeans among U.S. farmers, the effects of dynamic processes for anticipating future prices and yields, and the impact of government programs on the substitutability of soybeans for corn in planting decisions. The effects of past planting decisions, productivity, and net returns, as well as shifts in commodity program parameters, are considered in a systematic framework for modelling the behavior of corn and soybean acreage, yield, and market prices [...]
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