| Disclaimer: This web page is designed to aid
farmers with their marketing |
| and
risk management decisions. The risk of loss in trading futures,
options, |
| forward
contracts, and hedge-to-arrive can be substantial and no warranty is |
| given
or implied by the author or any other party. Each farmer must
consider |
| whether
such marketing strategies are appropriate for his or her situation. |
| This
web page does not represent the views of Kansas State University. |
| Disclosure:
Dr. Barnaby’s research was the basis for the privately
developed CRC. |
| Estimated
CRC Corn and RA, CRC, IP Soybean |
|
|
| Harvest
Price for State with March 15 Sales Closing |
|
|
|
|
|
|
|
|
|
Daily |
Daily |
|
Daily |
Daily |
|
|
Closing |
Closing |
|
Closing |
Closing |
|
|
Price |
Price |
|
Price |
Price |
|
|
CBOT |
CBOT |
|
CBOT |
CBOT |
|
|
Dec 02 |
Nov 02 |
|
Dec 02 |
Nov 02 |
|
| Date |
Corn |
Soybeans |
Date |
Corn |
Soybeans |
|
|
|
|
|
|
|
|
| 10/1/2002 |
2.5575 |
5.4200 |
10/17/2002 |
2.5550 |
5.5075 |
|
| 10/2/2002 |
2.5700 |
5.3750 |
10/18/2002 |
2.5425 |
5.4600 |
|
| 10/3/2002 |
2.5450 |
5.3800 |
10/21/2002 |
2.5425 |
5.5100 |
|
| 10/4/2002 |
2.5775 |
5.3950 |
10/22/2002 |
2.5150 |
5.4650 |
|
| 10/7/2002 |
2.6000 |
5.3975 |
10/23/2002 |
2.5025 |
5.5450 |
|
| 10/8/2002 |
2.5750 |
5.3525 |
10/24/2002 |
2.5025 |
5.5450 |
|
| 10/9/2002 |
2.5600 |
5.2350 |
10/25/2002 |
2.5025 |
5.5450 |
|
| 10/10/2002 |
2.5150 |
5.2475 |
10/28/2002 |
2.5025 |
5.5450 |
|
| 10/11/2002 |
2.4675 |
5.2850 |
10/29/2002 |
2.5025 |
5.5450 |
|
| 10/14/2002 |
2.4550 |
5.3250 |
10/30/2002 |
2.5025 |
5.5450 |
|
| 10/15/2002 |
2.5400 |
5.4775 |
10/31/2002 |
2.5025 |
5.5450 |
|
| 10/16/2002 |
2.5325 |
5.4700 |
|
|
|
|
|
|
|
|
|
|
|
| Avg Harvest |
Corn |
Soybeans |
|
|
|
|
| Price |
$2.52 |
$5.45 |
|
|
|
|
| Plant Price |
2.32 |
4.50 |
|
|
|
|
| Price Change |
0.20 |
0.95 |
|
|
|
|
| % change |
8.6% |
21.1% |
|
|
|
|
|
|
|
|
|
|
|
| An
Example for States with March 15 Sales Closing. |
|
|
| The
Harvest price will be multiplied times the grower’s corn yield in
2002. |
|
| A
grower with a 140 bu. APH X 70% coverage X $2.32 base price would |
|
| have
had revenue guarantee of $227.36.
If this grower produced 40 bushels |
|
| then
based on today’s price |
$2.52 |
estimate
of the revenue |
|
| to
count would be |
$100.80 |
and
the indemnity payment would be the |
| difference
between the revenue to count and the revenue guarantee for gross |
|
| indemnity
payment of |
$146.16 |
(before
premium deduction). |
|
