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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. |
| Estimated
CRC Harvest Price for Corn1,
Milo, Soybeans, & Rice |
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| for States with
Sales Closing 3/15 & Rice 2/15 or 2/28 |
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Daily |
Daily |
Daily |
Daily |
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Daily |
Daily |
Daily |
Daily |
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Closing |
Closing |
Closing |
Closing |
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Closing |
Closing |
Closing |
Closing |
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Price |
Milo |
Price |
Price |
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Price |
Milo |
Price |
Price |
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CBOT |
Price |
CBOT |
CBOT |
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CBOT |
Price |
CBOT |
CBOT |
|
Dec 03 |
95% of |
Nov 03 |
Nov 03 |
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Dec 03 |
95% of |
Nov 03 |
Nov 03 |
| Date |
Corn |
Corn |
Soybeans |
Rice |
Date |
Corn |
Corn |
Soybeans |
Rice |
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| 10/01/03 |
2.2025 |
2.0924 |
6.8725 |
7.2300 |
10/17/03 |
2.1425 |
2.0354 |
7.2925 |
7.0000 |
| 10/02/03 |
2.2025 |
2.0924 |
6.9700 |
7.3000 |
10/20/03 |
2.1375 |
2.0306 |
7.2925 |
6.8300 |
| 10/03/03 |
2.2300 |
2.1185 |
6.7800 |
7.3050 |
10/21/03 |
2.1575 |
2.0496 |
7.3025 |
6.8200 |
| 10/06/03 |
2.2125 |
2.1019 |
6.8400 |
7.1300 |
10/22/03 |
2.2025 |
2.0924 |
7.5050 |
7.1500 |
| 10/07/03 |
2.2350 |
2.1233 |
6.8775 |
6.9400 |
10/23/03 |
2.3500 |
2.2325 |
7.6375 |
7.3250 |
| 10/08/03 |
2.2150 |
2.1043 |
6.7850 |
6.9700 |
10/24/03 |
2.3500 |
2.2325 |
7.6250 |
7.2100 |
| 10/09/03 |
2.2175 |
2.1066 |
6.9250 |
6.9200 |
10/27/03 |
2.3525 |
2.2349 |
7.5850 |
7.4000 |
| 10/10/03 |
2.1625 |
2.0544 |
7.1350 |
6.9750 |
10/28/03 |
2.4025 |
2.2824 |
7.8200 |
7.4050 |
| 10/13/03 |
2.1750 |
2.0663 |
7.3150 |
7.0700 |
10/29/03 |
2.4825 |
2.3584 |
8.0000 |
7.4350 |
| 10/14/03 |
2.1850 |
2.0758 |
7.4150 |
7.1100 |
10/30/03 |
2.4775 |
2.3536 |
7.9350 |
7.4800 |
| 10/15/03 |
2.1650 |
2.0568 |
7.2750 |
6.8600 |
10/31/03 |
2.4725 |
2.3489 |
7.9425 |
7.5450 |
| 10/16/03 |
2.1450 |
2.0378 |
7.2550 |
6.9400 |
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| Avg
Harvest |
Corn |
Milo |
Beans |
Rice |
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| Price |
$2.255 |
$2.143 |
$7.321 |
7.146 |
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| Plant
Price |
$2.42 |
$2.30 |
$5.26 |
5.200 |
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| Price Change |
($0.17) |
($0.16) |
$2.06 |
1.946 |
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| %
change |
-6.82% |
-6.83% |
39.18% |
37.42% |
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| An Example for a
Kansas Soybean Grower |
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| A
Kansas Soybean grower with a 50 bushels APH X 70% coverage X higher
of harvest, plant price of $7.32 would have had a revenue guarantee
of $256.24. If this
grower produced 15 bushels, then based on today's price of $7.32 the
revenue to count would be $109.80 and the indemnity payment would be
the difference between the revenue to count and the revenue
guarantee for gross indemnity payment of $146.44 (before premium
deduction). |
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| 1RA
uses the same Prices for Soybeans as CRC but November average for
Corn. |
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