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Exploring the Market for Agricultural Economics Information: Views of Private Sector Analysts

Author

Listed:
  • Victoria Salin
  • Amy P. Thurow
  • Katherine R. Smith
  • Nicole Elmer

Abstract

This survey of 100 economic analysts in agriculture, outside of government and academia, assesses the changing public-private balance in information services in agriculture. Its objectives were to (1) contact frontline private sector analysts who handle economic issues in agriculture and ask them about the data and information they most value and why; (2) experiment with measurement instruments to segment and describe information attributes that users value; and (3) assess the interest of front line analysts in the changing public-private balance in information provision. The results provide a list of information services used by analysts, descriptive responses on attributes that contribute to value added, and statistical analysis relating respondent characteristics to the use of information from the U.S. Department of Agriculture (USDA). Respondents use a wide spectrum of information services. USDA was the single source of agricultural economics information mentioned most often. Education of the respondent is positively associated with the probability of using USDA information services, and experience is negatively associated with the use of USDA information services.

Suggested Citation

  • Victoria Salin & Amy P. Thurow & Katherine R. Smith & Nicole Elmer, 1998. "Exploring the Market for Agricultural Economics Information: Views of Private Sector Analysts," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 20(1), pages 114-124.
    • Handle: RePEc:oup:revage:v:20:y:1998:i:1:p:114-124.
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    File URL: http://hdl.handle.net/10.2307/1349537
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    Citations

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    Cited by:

    1. Isengildina-Massa, Olga & Irwin, Scott H. & Good, Darrel L. & Gomez, Jennifer K., 2008. "The Impact of Situation and Outlook Information in Corn and Soybean Futures Markets: Evidence from WASDE Reports," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 40(1), pages 89-103, April.
    2. Kenneth Poon & Alfons Weersink, 2014. "Growing Forward with Agricultural Policy: Strengths and Weaknesses of Canada's Agricultural Data Sets," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 62(2), pages 191-218, June.
    3. Adjemian, Michael K. & Johansson, Robert & McKenzie, Andrew & Thomsen, Michael, 2016. "The Value of Government Information in an Era of Declining Budgets," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235811, Agricultural and Applied Economics Association.
    4. Joshua Huang & Teresa Serra & Philip Garcia, 2021. "The Value of USDA Announcements in the Electronically Traded Corn Futures Market: A Modified Sufficient Test with Risk Adjustments," Journal of Agricultural Economics, Wiley Blackwell, vol. 72(3), pages 712-734, September.
    5. Olga Isengildina-Massa & Scott H. Irwin & Darrel L. Good & Jennifer K. Gomez, 2008. "Impact of WASDE reports on implied volatility in corn and soybean markets," Agribusiness, John Wiley & Sons, Ltd., vol. 24(4), pages 473-490.
    6. Lehecka, Georg V., 2014. "The Value of USDA Crop Progress and Condition Information: Reactions of Corn and Soybean Futures Markets," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 39(1), pages 1-18, April.
    7. Olga Isengildina Massa & Berna Karali & Scott H. Irwin, 2024. "What do we know about the value and market impact of the US Department of Agriculture reports?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 46(2), pages 698-736, June.
    8. Evelyn V. Colino & Scott H. Irwin, 2010. "Outlook vs. Futures: Three Decades of Evidence in Hog and Cattle Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(1), pages 1-15.
    9. Suzanne Thornsbury & Kathy Davis & Tara Minton, 2003. "Adding Value to Agricultural Data: A Golden Opportunity," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 25(2), pages 550-568.
    10. Pruitt, J. Ross & Tonsor, Glynn T. & Brooks, Kathleen R. & Johnson, Rachel J., 2013. "End User Preferences for USDA Market Information," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 143007, Southern Agricultural Economics Association.
    11. Poon, Kenneth & Weersink, Alfons & Deaton, Brady J., Jr., 2011. "Demand and Supply Analysis of Farm, Farmer and Farm Family Data," Working Papers 114094, Structure and Performance of Agriculture and Agri-products Industry (SPAA).
    12. Michael K Adjemian & Robert Johansson & Andrew McKenzie & Michael Thomsen, 2018. "Was the Missing 2013 WASDE Missed?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 40(4), pages 653-671, December.
    13. Good, Darrel L. & Irwin, Scott H. & Isengildina, Olga, 2006. "The Value of USDA Situation and Outlook Information in Hog and Cattle Markets," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(2), pages 1-21, August.
    14. Pruitt, J. Ross & Tonsor, Glynn T. & Brooks, Kathleen R., 2014. "Eliciting Expert Opinion on Components of USDA Market Livestock Information," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169389, Agricultural and Applied Economics Association.

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