A Risk Analysis of Crop Rotations in Southeast Kansas Including Double-Crop Alternatives
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Six rotations, four of which include a sequence of wheat followed
immediately after harvest by double-cropped soybeans, are evaluated with the
option of participating in the government commodity program. Stochastic
dominance analysis is used to evaluate these rotations for net return risk.
Analysis indicates that risk-averse managers out of the government commodity
program prefer an annual crop rotation of wheat and double-cropped soybeans.
Risk-averse managers who feel participation in the government commodity
program is an essential risk management tool prefer a three-year rotation of
grain sorghum, full-season soybeans, and wheat with double-cropped soybeans.