For agriculture to participate in carbon markets and provide feedstocks for biofuels an integrated analysis is needed at the farm level.  An integrated, scenario-based analysis of potential whole farm economic and associated environmental benefits and costs was conducted that could result from carbon markets likely to form under a cap-and-trade system.  The economic analysis was based on farm-level enterprise budgets to allow for evaluation of scenarios of GHG and energy market prices impacts on producer net revenues. The following emerging market opportunities for Kansas agricultural producers was evaluated for impacts on net revenues from sales, at alternative price levels, of energy and GHG credits payable to farmers.  In addition we examined bioenergy crops for ethanol and biomass production to determine the impact on revenues and management practices.  Corn stover and switchgrass for biomass and soybean for biodiesel were included in the scenarios.  Corn production of grain and stover removal for bioenergy was limited to no-tillage systems when soil carbon sequestration and economics were considered.  Stover removal was limited to <70% under no-till without loss of soil C.  Switchgrass biomass removal could be achieved without the loss of soil C.