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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. |
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Estimated RA Harvest Price for Corn1,
& Cotton for States with Sales Closing 3/15 & Cotton 2/28 or 3/15 |
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Daily |
Daily |
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Daily |
Daily |
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Closing |
Closing |
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Closing |
Closing |
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Price |
Price |
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Price |
Price |
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CBOT |
NYBOT |
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CBOT |
NYBOT |
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Dec 03 |
Dec 03 |
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Dec 03 |
Dec 03 |
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Date |
Corn |
Cotton |
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Corn |
Cotton |
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11/03/03 |
2.4000 |
0.7641 |
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11/17/03 |
2.3825 |
0.7410 |
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11/04/03 |
2.3225 |
0.7755 |
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11/18/03 |
2.3575 |
0.7123 |
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11/05/03 |
2.3675 |
0.7782 |
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11/19/03 |
2.3125 |
0.7153 |
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11/06/03 |
2.3425 |
0.7552 |
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11/20/03 |
2.3525 |
0.7024 |
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11/07/03 |
2.3525 |
0.7727 |
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11/21/03 |
2.3600 |
0.6760 |
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11/10/03 |
2.3275 |
0.7670 |
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11/24/03 |
2.3475 |
0.6387 |
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11/11/03 |
2.3250 |
0.7595 |
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11/25/03 |
2.3950 |
0.6259 |
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11/12/03 |
2.4025 |
0.7306 |
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11/26/03 |
2.4250 |
0.6800 |
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11/13/03 |
2.4075 |
0.7401 |
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11/28/03 |
2.4500 |
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11/14/03 |
2.4050 |
0.7490 |
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Avg Harvest |
Corn |
Cotton |
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Price |
2.370 |
0.727 |
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Plant Price |
$2.42 |
$0.59 |
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Price Change |
($0.05) |
$0.14 |
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% change |
(-2.07%) |
23.22% |
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An Example for a RA Insured Iowa Corn Grower |
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The Harvest Price will be multiplied times the grower’s corn yield in
2003. A grower with an 143 bushel APH x 70% coverage X $2.370 harvest
price would have had a revenue guarantee of $242.24. If this grower
produced 50 bushels, then based on today's price of $2.370 the revenue
to count would be $118.50 and the indemnity payment would be the
difference between the revenue to count and the revenue guarantee for
gross indemnity payment of $123.74 (before premium deduction). |
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1CRC measures the corn harvest price
based on the October average closing price of the December CBOT corn
futures contract. |
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