The food and agricultural policy research institute at the university of missouri (fapri-MU) will work with the office of the chief economist (OCE) to conduct analysis of agricultural markets and…

The food and agricultural policy research institute at the university of missouri (fapri-MU) will work with the office of the chief economist (OCE) to conduct analysis of agricultural markets and policies. The joint effort will provide estimates of likely market outcomes under current legislation and regulations and provide a framework for examining a wide range of agricultural, biofuel and trade policy issues. Agricultural markets affect everyone from farmers to food consumers. By providing quantitative estimates of future agricultural market outcomes under alternative scenarios, this project will provide information that will help policy makers and stakeholders make important decisions. The project builds upon existing economic models and expertise to evaluate new market developments and policy options that could have major impacts on farm commodity markets, government budgetary expenditures, farm income and consumer food prices. Given the goals, the means of communicating results and the timeliness of work are often defined by the needs of audiences outside of academia, causing a priority on maintaining and using existing economic models as part of the project. The results will inform public and private decisions worth billions of dollars.