Partial Returns Research Articles

Economic considerations of in‐season potassium applications to soybean using payoff matrices

AbstractPotassium (K) deficiency is a common yield‐limiting factor in Arkansas soybean (Glycine max (L.) Merr.) production that can be addressed with innovative supplemental fertilizer application. An established leaf sampling protocol and dynamic critical concentration allow accurate diagnosis of K deficiency with corresponding recommendations for corrective, in‐season K fertilizer applications at site‐specific rates and times to reach anticipated yield goals. However, the profitability of in‐season K fertilizer applications to irrigated soybean remains unclear. Research was conducted in Arkansas from 2021 to 2023 to evaluate multiple rates of in‐season applications of muriate of potash to soybean at 15 and 30 days after first flower (DAR1). The economic ramifications of in‐season fertilizer applications were quantified by calculating yield averages, partial returns (PRs), and regret when comparing PR to not fertilizing, each assuming 5‐year average prices for fertilizer and soybean grain. Significant yield responses to in‐season potash fertilizer were found at both 15 and 30 DAR1 times. These yield increases translated to large increases in PR or lower regret when compared to using no fertilizer. Corrective applications of 74–112 kg K ha−1 were often considered optimal, with risk assessments provided to allow informed decisions. Results were summarized by category of leaf‐K concentration, and treatment averages were provided to calculate payoff matrices for 15 and 30 DAR1 times. The resulting payoff matrices can be used as a decision support tool with any grain and fertilizer price to facilitate informed management decisions that optimize profitability as soybean and fertilizer prices impact optimal outcomes.

Impacts of Long COVID on workers: A longitudinal study of employment exit, work hours and mental health in the UK.

The COVID-19 pandemic has had enormous implications for the world of work. However, there has been relatively little focus on the employment and workforce challenges of the virus in relation to workforce health, beyond the immediate management of the spread of the disease. There is an important gap in understanding the ongoing workforce issues created by the significant incidence of Long COVID in the population. This paper examines the effects of Long COVID on employment and workers' mental health to contribute to understanding of work-limiting health conditions and to offer policy implications for COVID-19 and similar health conditions on employment and the workforce. A large national panel study for the UK is used to estimate the likelihood of exiting employment as well as on changes in working hours and general mental health and happiness of those who remain in work. The sample includes individuals 16 years and older who were in employment in January/February 2020 and followed during the pandemic 2020-2021. Long COVID is self-reported in the data. Informed by conceptual consideration of employment protection in the UK, two groups of individuals with Long COVID are defined based on the duration of symptoms. Group 1 has Long COVID 5-28 weeks after an infection with COVID-19, which is up to the maximum length of Statutory Sick Pay in the UK. Group 2 has symptoms for 29+ weeks, which is beyond the statutory entitlement to sickness pay. Panel regression models are fitted both with fixed-effects and random-effects. Individual and job characteristics are used as controls Those with no COVID-19 symptoms are the reference group. In between-person comparison, Group 2 is at higher risk of exiting employment compared to those with no COVID-19 symptoms. Between-person estimates of mental health and well-being show negative effects of Long COVID for both groups but these are greatest in Group 2. Within-person estimates suggest that factors associated with earnings mediate the negative Long COVID effects on mental health in Group 1 and that Group 2 adapts to working with Long COVID. Group 1 is at risk of working zero hours (i.e. being on sick leave) but neither Group 1 nor Group 2 have a higher probability of working fewer hours compared to those with no COVID-19 symptoms. The negative impact of Long COVID on working hours stems primarily from working zero hours (sickness leave) rather than working fewer hours, suggesting a lack of accommodation by employers of Long COVID at work. The extension of Statutory Sickness Pay and greater flexibility to manage partial (returns to) work would help preserve employment and mental health. Those with Long COVID for 12 months are likely to meet the definition of disability and so have a right to receive reasonable workplace adjustments.

How do roll timing and seeding rate affect lentil yields?

AbstractLentil (Lens culinaris Medik.) production has increased exponentially in Montana in the last two decades. However, there are important gaps in knowledge on best management practices for lentil. Agronomic recommendations are based on performance of old cultivars outside of the area for seeding rate, and on anecdotal evidence for proper roll timing, particularly since the widespread adoption of no‐till farming. Replicated field experiments were conducted at three sites during the 2019, 2020, and 2021 growing seasons in Montana to determine the impacts of roll timing and seeding rate on lentil yield and identify best practices. Overall, rolling at emergence and at the 10‐leaf stage decreased yields by 5% and 8%, respectively, but rolling just after planting or at the early vegetative stage (two‐ to four‐leaf stage) did not decrease yields. Higher yields were achieved at higher seeding rates, with yields increasing between 6 and 52 lb ac−1 for each additional plant established per square foot, but emergence rates were variable and relatively low, so a higher seeding rate may be necessary to achieve plant densities above 12 plants ft−2 in this region. In five out of nine site years, the largest partial economic returns were achieved with 22.5 or 30 live seeds ft−2 seeding rate, corresponding to achieved plant densities of 12 to 16 plants ft−2. It was generally economical to increase seeding rate from 15 to 22.5 live seeds ft−2, thus increasing average achieved plant density from 8 to 13 plants ft−2, except when seed costs were high (>$0.45 lb−1) combined with low market prices (< $0.20 lb−1).

Investigations into Economic Returns Resulting from Foliar Fungicides and Application Timing on Management of Tar Spot in Indiana Hybrid Corn.

Tar spot, caused by Phyllachora maydis, is the most significant yield-limiting disease of corn (Zea mays L.) in Indiana. Currently, fungicides are an effective management tool for this disease, and partial returns from their use under different disease severity conditions has not previously been studied. Between 2019 and 2021, two separate field experiments were conducted in each year in Indiana to assess the efficacy of nine foliar fungicide products and nine fungicide application timings based on corn growth stages on tar spot symptoms and stromata, canopy greenness, yield, and influence on partial returns. All fungicides evaluated significantly suppressed tar spot development in the canopy and increased canopy greenness over the nontreated control. Additionally, applications of mefentrifluconazole + pyraclostrobin, metconazole + pyraclostrobin, cyproconazole + picoxystrobin at tassel, and propiconazole + benzovindiflupyr + azoxystrobin between the tassel and dough growth stages were the most effective at significantly reducing disease severity, increasing canopy greenness, protecting yield, and offered the greatest partial return. Fungicide products varied in their ability to protect yield under low and high disease severity conditions relative to the nontreated control. Consistently, positive yield increases were observed when disease severity was high, which translated to greater profitability relative to low severity conditions. On average, the yield increases across foliar fungicide products and timed application treatments were 544.6 and 1,020.7 kg/ha greater, and partial returns using a grain value of $0.17/kg were $92.6/ha and $173.5/ha greater, respectively, when high severity conditions occurred. This research demonstrates that foliar fungicides and appropriately timed fungicide applications can profitably be used to manage tar spot in Indiana under high disease severity conditions.

Dicamba-Based Herbicide Programs, Cropping Sequences, Tillage Types in Cotton – Profitability and Risk Efficiency Analysis

Herbicide-resistant weeds threaten cotton production, and herbicides alone are not a sustainable remedy. Field trials at two locations, College Station and Thrall, Texas (2019-21), assessed dicamba-based herbicide programs in various crop sequences and tillage systems to identify sustainable weed management recommendations based on weed control and partial net returns. The study showed no-till cover cropping and conventional tillage had the highest aggregate partial net returns at College Station and Thrall, respectively. A cotton:sorghum:cotton rotation provided significantly higher partial net returns (>$450 ha-1) compared to continuous cotton only at Thrall. Partial net returns were significantly higher in a low input herbicide program (LI) compared to a high input herbicide program (HI) from 2019-21 only at Thrall. Herbicide programs showed a high degree of overlap and were indistinct in all tillage types at College Station based on CDFs graphs. Low input under cotton:sorghum:cotton rotation showed 100% probability of higher partial net returns compared to continuous cotton in all tillage types at Thrall. Stoplight charts showed LI provided greater than 50% probability of partial net returns greater than $1,066 ha-1 across tillage types at College Station. In Thrall, LI under cotton:sorghum:cotton rotation offered 88% and 26% probability of partial net returns above $1,066 ha-1 in conventional and strip tillage, respectively. Higher partial net returns for LI were mostly attributed to cost savings from using inexpensive herbicides rather than higher yields. Therefore, using less expensive herbicide programs and crop rotation appeared to be the most risk efficient strategy for managing weeds in irrigated and dryland cotton production.

Influence of cover crops on soybean yield and partial returns as an alternative to double‐crop soybean in Arkansas

AbstractThe number of hectares dedicated to winter wheat (Triticum aestivum L.) in the southern United States has been trending downward for almost a decade, presenting an opportunity for producers to utilize alternatives in their soybean [Glycine max (L.) Merr.] rotations, such as winter cover crops. A study was established to compare the cover crops to traditional cropping systems by determining the effect each had on a successive soybean crop and to examine partial economic returns. Cropping systems implemented were winter fallow, winter wheat, and seven cover crop treatments, including cereal rye (Secale cereale L.), black‐seeded oat (Avena sativa L.), barley (Hordeum vulgare L.), Austrian winter pea (Pisum sativum L.), blue lupin (Lupinus angustifolius L.), Blend 1 (cereal rye, crimson clover [Trifolium incarnatum L.], seven‐top turnip [Brassica rapa L.]). and Blend 2 (black‐seeded oats and Austrian winter pea). The winter cropping system did not affect the soybean plant population (p = 0.32). Soybean grain yield varied among the different winter cropping systems (p < 0.01) with yields ranging from 3346 to 3906 kg ha−1. The soybean double‐crop system ($1383.02 ha−1) and soybean following winter cover crops ($1239–1380 ha−1) produced similar partial returns but both were greater than soybean following winter fallow ($1217.81 ha−1) (p < 0.01). Soybean yields and partial returns were the highest when following Blend 2. Results of this study showed that winter cover crops can provide an adequate alternative to both winter fallow and traditional winter wheat soybean double‐crop systems in the mid‐southern United States.

Impact of integrated weed management practices on cotton economics and Palmer amaranth (Amaranthus palmeri) populations

AbstractThe threat of herbicide-resistant weed species, such as Palmer amaranth, has driven the development of robust weed management programs that rely on more than chemicals for weed control. Previous research has shown that zero-tolerance weed thresholds, cover crops, deep tillage, and diverse herbicide programs are effective strategies for controlling Palmer amaranth. Unfortunately, research investigating the integration of all four of these weed management strategies in a system is lacking. To better leverage these integrated weed management strategies in cotton production systems, a long-term study was initiated in fall 2018 near Marianna, AR, with zero tolerance, deep tillage, a cereal rye cover crop, and either a dicamba or non-dicamba in-crop herbicide program as factors. Results found that total Palmer amaranth emergence was reduced 76% as the result of deep tillage in 2019 and, in the absence of a zero-tolerance strategy, 73% in 2020. In the absence of a zero-tolerance strategy, the combination of a non–cover crop strategy and dicamba herbicide program decreased total Palmer amaranth emergence by 73%, while the combination of a cover crop strategy and dicamba herbicide program decreased total Palmer amaranth emergence by 78% compared to the combination of a cover crop and non-dicamba herbicide program. Under a zero-tolerance strategy in 2019, tillage reduced cotton yield by 12% and partial returns by US$370 ha−1. In 2020, tillage reduced cotton yield by 14% and partial returns of US$371 ha−1 under a non-zero-tolerance strategy, while a 12% yield reduction and a US$260 ha−1 decrease in partial returns were observed under a zero-tolerance strategy. In 2019, the non-dicamba program resulted in greater partial returns than the dicamba in-crop program because of greater yield and lower program costs. However, in 2020, partial returns were greater for the dicamba in-crop herbicide program owing to greater yields achieved by this program.

Analytical Modeling and Empirical Analysis of Binary Options Strategies

This study analyzes binary option investment strategies by developing mathematical formalism and formulating analytical models. The binary outcome of binary options represents either an increase or a decrease in a parameter, typically an asset or derivative. The investor receives only partial returns if the prediction is correct but loses all the investment otherwise. Mainstream research on binary options aims to develop the best dynamic trading strategies. This study focuses on static tactical easy-to-implement strategies and investigates the performance of such strategies in relation to prediction accuracy, payout percentage, and investment strategy decisions.

High Seeding Rates and Low Soil Nitrogen Environments Optimize Weed Suppression and Profitability in Organic No-Till Planted Soybean

No-till planting crops into rolled-crimped cover crops can improve soil health while reducing labor and fuel requirements compared with traditional tillage-based production. However, little information is available to help farmers optimize the management of organic no-till planted crops. Weed suppression, crop yield, and profitability were assessed across soybean [Glycine max (L.) Merr.] seeding rates and soil nitrogen environments in an experiment conducted at two sites in central New York. Soybeans were no-till planted into rolled-crimped cereal rye (Secale cereale L.) at 0, 185,000, 371,000, 556,000, and 741,000 seeds ha−1. Three rates (0, 63, or 125 kg ha−1) of sodium nitrate (15-0-2) were applied across seeding rates to create different soil nitrogen environments. When pooled over sites, the lowest weed biomass occurred at the highest soybean density in the lowest soil nitrogen environment. An interaction was observed between soybean seeding rate and nitrogen treatments on weed communities. Soybean yield increased asymptotically with crop density and was not affected by nitrogen or site treatments. When pooled over nitrogen treatments and sites, partial returns to the soybean seeding rates were maximized at $2,238 ha−1 with 527,800 seeds ha−1. Results suggest that crop density is an important lever for optimizing weed suppression and crop yield in organic no-till soybean, and that managing for low soil nitrogen conditions may further enhance weed suppression while maintaining high yields.

Economic Analysis of Growing Grafted Cucumber Plants for High Tunnel Production

Cucumber (Cucumis sativus) is one of the most important vegetables produced and consumed in the United States. In the midwestern United States, a major obstacle to spring cucumber production is low soil temperatures during plant establishment. High tunnel is a popular tool for season extension of vegetable production. Low soil temperature is a challenge for cucumber production even inside high tunnels. Grafting is a cultural practice known to help control soilborne diseases and improve plants’ tolerance to abiotic stresses. Recent studies found that using grafted cucumber plants with cold-tolerant rootstocks greatly benefited early-season seedless cucumber production in high tunnels. The objective of this study was to analyze the economic feasibility of growing grafted cucumber in high tunnels. A comparison of partial costs and returns between growing grafted and nongrafted cucumbers in a high tunnel in Vincennes, IN, was conducted. Data were used to develop a partial budget analysis and sensitivity tests. Data included production costs, marketable yield, and price of cucumber through different market channels. This study provided a baseline reference for growers interested in grafting seedless cucumber and for high tunnel production. Although costs of grafted transplants were higher, their yield and potential revenue helped to offset the higher costs. Results indicated that grafting can help farmers increase net returns through the increasing yield of grafted plants. Results from the sensitivity analysis illustrated how the increased yield of grafted cucumbers offsets the extra cost incurred in the technique while providing a higher revenue. While actual production costs for individual farmers may vary, our findings suggested that grafting can be an economically feasible tool for high tunnel seedless cucumber production.

Impact of school reopening on pandemic spread: A case study using an agent-based model for COVID-19.

This article examines the impact of partial/full reopening of school/college campuses on the spread of a pandemic using COVID-19 as a case study. The study uses an agent-based simulation model that replicates community spread in an urban region of U.S.A. via daily social mixing of susceptible and infected individuals. Data representing population demographics, SARS-CoV-2 epidemiology, and social interventions guides the model's behavior, which is calibrated and validated using data reported by the government. The model indicates a modest but significant increase (8.15%) in the total number of reported cases in the region for a complete (100%) reopening compared to keeping schools and colleges fully virtual. For partial returns of 75% and 50%, the percent increases in the number of reported cases are shown to be small (2.87% and 1.26%, respectively) and statistically insignificant. The AB model also predicts that relaxing the stringency of the school safety protocol for sanitizing, use of mask, social distancing, testing, and quarantining and thus allowing the school transmission coefficient to double may result in a small increase in the number of reported infected cases (2.14%). Hence for pandemic outbreaks from viruses with similar characteristics as for SARS-CoV-2, keeping the schools and colleges open with a modest campus safety protocol and in-person attendance below a certain threshold may be advisable.

Economic impact of polyherbal mixtures containing choline, lysine and methionine on milk production and health of dairy cows

The objective of this study was to evaluate the economic impact of supplementing dairy cows with mixtures of polyherbal products supplying conjugates of choline (BioCholine, BC), lysine (OptiLysine, L) and methionine (OptiMethionine, M), considering the costs of veterinary treatments, the nutraceutical effects of the mixtures, the partial cost and returns of milk production. Eighty postpartum Holstein cows were randomly assigned to individually receive. The pellets no containing (Control, 20 cows) and containing polyherbal products (g/d) (BC20, 19 cows; BC40, 17 cows; BC20+L40+M20, 12 cows, and BC40+L80+M40, 12 cows) were offered to cows during the milking through automatic feeders in the course of 90 days in a commercial farm. Treatment costs were grouped in terms of antibiotics, healing, anti-inflammatories, glucogenics, hormonal, intra-mammary treatments, restorative and vitamins. Milk production was not affected (P>0.05) by polyherbal additives but there were numerical differences in the number of treatments and costs; animal health cost per cow showed a high variation coefficient (average 347%). Cows receiving BC40 and BC20+L40+M20 had reduced animal health cost per cow but only the treatment BC40 showed residual effects post experiment with an economic improvement of 2.1% over the control group, showing benefits associated to a reduction in the number of doses with antibiotics and doses of immune-stimulants. Cows receiving BC40 had the best milk yield numerically in combination with the lower number of animal health costs which resulted in the highest income.

Comparing the agronomic performance of short‐season and commonly grown corn hybrid maturities in Ohio

AbstractPlanting short‐season corn (Zea mays L.) hybrids with maturity ratings earlier than those of hybrids commonly grown in Ohio (hereafter referred to as “ultra‐early” hybrids) might offer advantages in cover cropping systems by promoting an earlier corn harvest. Earlier harvest would facilitate earlier planting of cover crops or small grains to improve fall establishment. However, performance data related to yield and harvest moisture for ultra‐early hybrids is limited. A field study was conducted from 2016 to 2018 at two northern Ohio locations (Bucyrus and Wooster) to compare the agronomic performance and partial economic returns of ultra‐early hybrids with relative maturity ratings ranging from 90 to 100 d (∼2056–2450 growing degree days [GDDs]) to commonly grown hybrid maturities ranging from 104 to 109 d (∼2500–2600 GDDs). The ultra‐early hybrids incurred less drying costs and had higher test weights than the commonly grown maturity hybrids but yielded 9–10% less. Ultra‐early hybrids with ratings of 96–100 d yielded 3–5% more than those with ratings of 90 to 95 d. For late May and early June plantings, the partial return per acre for 96–100‐d hybrids did not differ from the commonly grown maturities due mainly to discounts from low test weights and high harvest moisture when harvested on the same date. The results suggest that growers could optimize profitability by planting the highest yielding early maturing hybrids and gain days of growth for potential cover crop establishment by planting ultra‐early hybrids.

Geospatial modeling of conservation tillage and nitrogen timing effects on yield and soil properties

Crop growth simulation can complement field research for adapting and targeting practices to diverse production areas. Two simulated experiments of 30-year duration were conducted with CERES and CROPGRO to evaluate the effects of fertilizer N practices and conservation tillage (CT) alternatives on maize (Zea mays L.) grain yield, soil organic C and soil organic N for seven technology extrapolation domains (TED) in Ethiopia. Mean maize grain yield was 663kg ha−1 more with three compared two N applications per season for high rainfall TED in western Ethiopia. Tillage did not affect response to N. Averaged across TED, maize yield was 33% more with a combination of conservation tillage, rotation and additional N application (CTr+N) compared maize monoculture with conventional tillage and the recommended N rate (CPmm), primarily because of crop rotation. Maize grain yield increased over time with the conservation tillage under rotation (CTr) but declined under CPmm. Soil organic C and N declined over time, but the rate of decline was lower with CTr+N compared to CPmm. Stored soil organic C and N were 8543 and 594kgha−1 more with CTr+N compared with CPmm, respectively, averaged over the 30 years. First order stochastic dominance analysis from maize grain partial net returns showed that maize rotation dominated maize monoculture. Second order stochastic dominance analysis for partial net return indicated the absence of an unambiguous dominant of conservation tillage for a farmers’ preference of low risk to higher net return or high net return to low risk.

Agronomic and Economic Performance of Maize, Soybean, and Wheat in Different Rotations during the Transition to an Organic Cropping System

Crop producers transitioning to an organic cropping system must grow crops organically without price premiums for 36 months before certification. We evaluated red clover-maize, maize-soybean, and soybean-wheat/red clover rotations in organic and conventional cropping systems with recommended and high inputs in New York, USA to identify the best rotation and management practices during the transition. Organic compared with conventional maize with recommended inputs in the maize-soybean rotation (entry crop) averaged 32% lower yields, $878/ha higher production costs, and $1096/ha lower partial returns. Organic maize compared with conventional maize with recommended inputs in the red clover-maize rotation (second transition crop) had similar yields, production costs, and partial returns. Organic compared with conventional soybean with recommended inputs in soybean-wheat/red clover or maize-soybean rotations had similar yields, production costs, and partial returns. Organic compared with conventional wheat with recommended inputs in the soybean-wheat/clover rotation had similar yields, $416/ha higher production costs, and $491/ha lower partial returns. The organic compared with the conventional soybean-wheat/red clover rotation had the least negative impact on partial returns during the transition. Nevertheless, all organic rotations had similar partial returns ($434 to $495/ha) so transitioning immediately, regardless of entry crop, may be most prudent. High input management did not improve organic crop yields during the transition.

Nitrogen Fertilization of Soybean in Mississippi Increases Seed Yield but Not Profitability

Core Ideas Nitrogen applications increased soybean yields by 4% for sandy/silt loam soil. Nitrogen applications increased soybean yields by 8% for clay soil. Yield components response to N applications parallels the trends observed for yield. Nitrogen application is not an economically feasible way to improve soybean yield. Trials were conducted in 2014 and 2015 at Delta Research and Extension Center in Stoneville, MS, to evaluate soybean [Glycine max (L.) Merr.] response to N sources (ammonium sulfate [AMS], polymer‐coated urea [PCU], urea+urease inhibitor [Urea+NBPT, N‐(n‐butyl) thiophosphoric triamide]), N application rate (0, 45, 90, 135, 179 kg N ha−1) and timing (V4, R1), on two soil textures (sandy/silt loam and clay) that are commonly used for soybean production in Mississippi. Urea+NBPT produced 5 and 8% greater aboveground biomass than AMS and PCU on sandy/silt loam soil. Nitrogen applications at the V4 growth stage resulted in 6% greater biomass production than the R1 application timing on sandy/silt loam. Averaged over N rates where a seed yield increase was observed, N applications increased soybean yields by 4% for sandy/silt loam soil and by 8% for clay soil compared to unfertilized soybeans. No differences were observed for soybean yields between N rates of 45, 90, 135, and 179 kg N ha−1. Soybean yield from PCU was 2.5% greater than urea+NBPT on sandy/silt loam soil. Nitrogen rates influenced soybean yield components including pods and seeds plant−1 on sandy/silt loam soil as well as seeds and seed mass plant−1 on clay soil. Yield component response to N fertilization parallels the trends observed with overall soybean seed yield increases on both soil textures. Despite increases in seed yield observed with N application, analysis of partial returns suggests that N application is not an economically feasible way to improve soybean seed yield.

High Planting Rates Improve Weed Suppression, Yield, and Profitability in Organically-Managed, No-till–Planted Soybean

High soybean populations have been shown to hasten canopy closure, which can improve both weed suppression and soybean yield. In conventional soybean production, the high cost of genetically engineered seed and seed treatments have led growers to plant at lower rates to maximize profitability. For organic farmers, market price premiums are typically double the price received for conventional soybean. Without chemical or mechanical weed management, cultural practices are particularly important for adequate weed suppression in cover crop–based organic no–till planted soybean production. In 2014, an experiment was conducted in Aurora and Hurley, New York, to assess the effects of increasing soybean planting rates on weed suppression, soybean yield, and partial economic return. Five planting rates ranging from 195,000 to 914,000 seedsha−1were arranged in a randomized complete block design. As soybean planting rate increased, weed biomass decreased and soybean yield increased at both sites. An asymptotic model described the relationship between increasing soybean planting rate and yield, and the estimated maximum yield was 2,504 kgha−1in Aurora and 3,178 kgha−1in Hurley. Despite high soybean populations, minimal lodging was observed. Partial returns decreased beyond the predicted economically optimal planting rate of 646,000 seeds ha−1in Aurora and 728,000 seeds ha−1in Hurley as higher seed costs were no longer offset by yield gains. Based on our results, planting rates that are more than double the recommended rate of 321,000 seeds ha−1for wide row (≥76 cm) conventional soybean management in New York can enhance weed suppression, increase yield, and improve profitability in organic no-till planted soybean production.

Soybean maturity group selection: Irrigation and nitrogen fixation effects on returns

Soybean (Glycine max [L.] Merr.) production tradeoffs across maturity group (MG) I through V were analyzed using data on irrigation applied, harvest index (HI), yield, and nitrogen (N) fixed in crop residue at two locations and a range of years. Water use efficiency (WUE), defined as grain yield/water (irrigation and rainfall) and nitrogen (N2) fixation prediction equations allowed analysis of tradeoffs between irrigation use and N2 fixation by MG under both irrigated and non-irrigated conditions. Analysis of partial returns by year and location revealed: (i) no consistent optimal MG choice under irrigated conditions; (ii) that irrigated soybean always outperformed non-irrigated production; and (iii) that non-irrigated MG V soybean had higher yields than earlier MG. Further, WUE, averaged across location and study years, was highest for MGs II and III with less loss in yield potential with restricted irrigation compared to MG IV and V. N2 fixation was inversely related to HI and positively correlated with Y. MG V compared to MG I, II and III thus displayed multi-fold increases in N2 fixation regardless of irrigation. Adding N fertilizer value for a subsequent crop from N2 fixation and potential implications of net GHG emissions to partial returns did not modify optimal MG choice.

Conditional Sharpe Ratios

Facing investment choices, investors may care more about potentially excess losses in a downtrend market than excess gains in an upside market. Conditional Sharpe ratios (CSR) are statistical ordinates of conditional stochastic dominance (CSD) that measure lower partial risk-adjusted excess returns of an asset with respect to return distribution on the benchmark. A multiple comparison of serial CSR statistics thus provides an overall view of portfolio performance corresponding to different market scenarios. An example demonstrates that CSR is able to discriminate funds’ downside performance which the conventional Sharpe ratio generally fails to do. A large out-of-sample analysis of US mutual fund shows that CSR has predictability for portfolio future performance.

Soybean Seed Treatments Interact with Locations for Populations, Yield, and Partial Returns

Soybean [Glycine max (L.) Merr.] prices and profitability have increased recently, so growers manage the crop more intensively, including using seed treatments. Field‐scale studies were conducted at four locations in New York in 2012 and 2013 to evaluate agronomic and economic responses to rhizobia (Bradyrhizobium japonicum), biological, fungicide, and insecticide seed treatments. Plant populations, yield, and partial returns had location × seed treatment interactions. Rhizobia, biological, and fungicide seed treatments vs. untreated seed increased plant populations by 22 and 8% but not yield at two locations. Rhizobia, biological, fungicide, and insecticide seed treatments vs. untreated seed increased plant populations (20 and 10%) and yield (7 and 4.5%) at two other locations, along with partial returns (US$155 ha−1) where yield increased by 7% but not where yield increased by 4.5%. Growers seeded at 383,000 to 492,000 seeds ha−1, which may have been too high to fully realize the benefit of seed treatments. Application of rhizobia at planting vs. untreated seed did not increase yield and partial returns, even at locations where soybean had been grown only twice in the previous 10 yr. Growers who are risk averse to poor plant establishment will probably apply biological, fungicide, and insecticide seed treatments, whereas growers who are risk averse to additional inputs without a high probability of increased profit will probably not apply seed treatments or rhizobia inoculant, especially if low market prices prevail. The results of this study are site specific, so growers should conduct strip tests to determine if soybean seed treatments or rhizobia inoculants are beneficial, given their production practices, soil resources, and risk tolerance.