Table 7 Estimated acreage-supply elasticities
Favorability | |||||
|---|---|---|---|---|---|
State | Wheat net returns | Cost share | Low | Medium | High |
Kansas | 25% Decrease | 0% | 6.09 | 5.99 | 6.41 |
15% | 5.63 | 5.44 | 6.40 | ||
30% | 4.82 | 4.50 | 6.20 | ||
Base | 0% | 6.36 | 6.34 | 6.31 | |
15% | 6.19 | 6.12 | 6.05 | ||
30% | 5.79 | 5.65 | 5.52 | ||
25% Increase | 0% | 6.38 | 6.40 | 5.88 | |
15% | 6.42 | 6.41 | 5.25 | ||
30% | 6.29 | 6.24 | 4.17 | ||
North Dakota | 25% Decrease | 0% | 5.21 | 5.16 | 5.93 |
15% | 4.91 | 4.85 | 5.77 | ||
30% | 4.56 | 4.48 | 5.57 | ||
Base | 0% | 5.64 | 5.62 | 5.58 | |
15% | 5.42 | 5.39 | 5.35 | ||
30% | 5.18 | 5.13 | 5.09 | ||
25% Increase | 0% | 5.97 | 5.95 | 5.10 | |
15% | 5.81 | 5.79 | 4.78 | ||
30% | 5.63 | 5.60 | 4.40 | ||
Oklahoma | 25% Decrease | 0% | 2.69 | 2.55 | 5.82 |
15% | 2.18 | 2.09 | 5.51 | ||
30% | 1.73 | 1.65 | 4.83 | ||
Base | 0% | 5.12 | 5.02 | 4.87 | |
15% | 4.18 | 3.95 | 3.64 | ||
30% | 2.43 | 2.32 | 2.22 | ||
25% Increase | 0% | 5.86 | 5.85 | 2.43 | |
15% | 5.62 | 5.57 | 1.99 | ||
30% | 5.06 | 4.95 | 1.55 | ||
Oregon | 25% Decrease | 0% | 2.64 | 2.46 | 5.09 |
15% | 2.35 | 2.17 | 4.75 | ||
30% | 2.06 | 1.89 | 4.29 | ||
Base | 0% | 4.18 | 3.84 | 3.41 | |
15% | 3.45 | 2.88 | 2.74 | ||
30% | 2.74 | 2.55 | 2.38 | ||
25% Increase | 0% | 5.29 | 5.19 | 2.29 | |
15% | 5.03 | 4.90 | 2.00 | ||
30% | 4.67 | 4.48 | 1.73 | ||
South Dakota | 25% Decrease | 0% | 4.67 | 4.41 | 5.47 |
15% | 4.29 | 3.96 | 5.30 | ||
30% | 3.81 | 3.39 | 5.09 | ||
Base | 0% | 5.26 | 5.13 | 4.96 | |
15% | 5.02 | 4.87 | 4.67 | ||
30% | 4.73 | 4.54 | 4.29 | ||
25% Increase | 0% | 5.58 | 5.53 | 4.03 | |
15% | 5.45 | 5.38 | 3.48 | ||
30% | 5.28 | 5.20 | 2.71 | ||
Washington | 25% Decrease | 0% | 2.44 | 2.28 | 5.17 |
15% | 2.20 | 2.04 | 4.75 | ||
30% | 1.96 | 1.80 | 4.17 | ||
Base | 0% | 3.73 | 3.04 | 2.85 | |
15% | 2.90 | 2.70 | 2.54 | ||
30% | 2.58 | 2.41 | 2.25 | ||
25% Increase | 0% | 5.46 | 5.32 | 2.12 | |
15% | 5.14 | 4.96 | 1.88 | ||
30% | 4.70 | 4.46 | 1.64 | ||