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Cost Effifficiency of International Corn and Soybean Production

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  • Purdy, Rachel
  • Langemeier, Michael

Abstract

The objective of this paper was to examine the cost efficiency of corn and soybean production for typical farms involved in the cash crop agri benchmark network using data for the period 2013 to 2017. Average cost efficiency for the typical farms in the network that produced corn, soybeans, and both corn and soybeans was 0.749, 0.774, and 0.939, respectively. Inefficiency was a greater problem for the farms producing corn than for the other farm types examined. Inefficient farms tended to overutilize direct, operating, and overhead inputs.

Suggested Citation

  • Purdy, Rachel & Langemeier, Michael, 2020. "Cost Effifficiency of International Corn and Soybean Production," Journal of Applied Farm Economics, Purdue University, vol. 3(2), May.
    • Handle: RePEc:ags:pujafe:346787
    DOI: 10.22004/ag.econ.346787
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    References listed on IDEAS

    as
    1. Langemeier, Michael R. & Yeager, Elizabeth A. & O'Brien, Dan, 2014. "Cost Efficiency and Feed Grain Production in Kansas," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2014, pages 1-11.
    2. Yeager, Elizabeth & Langemeier, Michael, 2009. "Measuring Sustained Competitive Advantage for a Sample of Kansas Farms," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2009, pages 1-12.
    3. Yeager, Elizabeth A. & Langemeier, Michael R., 2011. "Productivity Divergence across Kansas Farms," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 40(2), pages 1-11, August.
    4. Timothy J. Coelli & D.S. Prasada Rao & Christopher J. O’Donnell & George E. Battese, 2005. "An Introduction to Efficiency and Productivity Analysis," Springer Books, Springer, edition 0, number 978-0-387-25895-9, April.
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