Round-Up® Ready Spring Wheat: its potential short-term impacts on U.S. wheat exports markets and prices

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2003-11-04
Authors
Wisner, Robert
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Economics

The Department of Economic Science was founded in 1898 to teach economic theory as a truth of industrial life, and was very much concerned with applying economics to business and industry, particularly agriculture. Between 1910 and 1967 it showed the growing influence of other social studies, such as sociology, history, and political science. Today it encompasses the majors of Agricultural Business (preparing for agricultural finance and management), Business Economics, and Economics (for advanced studies in business or economics or for careers in financing, management, insurance, etc).

History
The Department of Economic Science was founded in 1898 under the Division of Industrial Science (later College of Liberal Arts and Sciences); it became co-directed by the Division of Agriculture in 1919. In 1910 it became the Department of Economics and Political Science. In 1913 it became the Department of Applied Economics and Social Science; in 1924 it became the Department of Economics, History, and Sociology; in 1931 it became the Department of Economics and Sociology. In 1967 it became the Department of Economics, and in 2007 it became co-directed by the Colleges of Agriculture and Life Sciences, Liberal Arts and Sciences, and Business.

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1898–present

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  • Department of Economic Science (1898–1910)
  • Department of Economics and Political Science (1910-1913)
  • Department of Applied Economics and Social Science (1913–1924)
  • Department of Economics, History and Sociology (1924–1931)
  • Department of Economics and Sociology (1931–1967)

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Abstract

This report examines potential impacts on export markets and prices from commercializing GMO hard red spring wheat in the U.S. within the next two to six years. GMO crop technology offers possible large benefits to consumers in the future, if plant-breeding concepts in the development stage materialize. For the short run, however, there is much evidence suggesting that the majority of foreign consumers have serious reservations about purchasing food products made from GMO wheat. Many foreign consumers see nothing to be gained from buying food produced with these types of wheat. Many have questions about the long-term safety of GMO crops, which may not have scientific validity. With or without scientific validity, consumer attitudes determine buying patterns when GMO food labeling programs are present, as they are in many foreign markets for wheat. Potential accidental co-mingling would put both U.S. durum and other spring wheat exports at risk even if only GMO hard red spring wheat were commercialized. With a substantial loss of export markets, excess U.S. production capacity for durum and other spring wheat would be expected to quickly depress prices for these classes to feed-wheat levels.

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