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 Weighted National Average Price and Projected Counter Cyclical Payments(01/25/05)
	Wheat (04/05)			Corn (04/05)
	Estimated	Monthly		Estimated	Monthly
Month	Weight	Price	Month	Weight	Price
Jun	13.0	3.57	Sep	8.5	2.20
Jul	20.3	3.37	Oct	14.1	2.15
Aug	11.8	3.27	Nov¹	11.1	2.05
Sep	8.1	3.36	Dec	7.4	1.99
Oct	6.1	3.44	Jan	14.8	2.02
Nov¹	5.4	3.46	Feb	6.3	2.07
Dec	7.2	3.38	Mar	7.1	2.10
Jan	8.6	3.34	Apr	5.7	2.10
Feb	5.1	3.32	May	5.0	2.11
Mar	5.3	3.33	Jun	5.6	2.05
Apr	4.3	3.29	Jul	6.9	1.98
May	4.1	3.30	Aug	7.4	1.97
KSU Est Avg Price		3.36			2.07
Strike Price		3.40			2.35
Exp. Counter Cyclical Pymt		0.04			0.28
USDA Est Avg Price for 04/05²		3.25-3.45			1.80-2.10
	Milo (04/05)			Soybeans (04/05)
	Estimated	Monthly		Estimated	Monthly
Month	Weight	Price	Month	Weight	Price
Sep	7.4	3.59	Sep	7.6	5.84
Oct	11.9	3.15	Oct	23.9	5.56
Nov¹	14.6	3.06	Nov¹	9.0	5.36
Dec	15.3	2.94	Dec	7.8	5.41
Jan	11.9	2.97	Jan	15.3	5.47
Feb	4.6	3.08	Feb	6.8	5.61
Mar	4.3	3.04	Mar	7.1	5.81
Apr	2.9	3.02	Apr	5.3	5.90
May	2.6	3.05	May	4.4	6.06
Jun	6.4	3.17	Jun	3.8	6.04
Jul¹	8.0	3.08	Jul¹	4.8	6.01
Aug	10.1	3.07	Aug	4.2	5.78
KSU Est Avg Price		3.09			5.65
Strike Price		3.70			5.36
Exp. Counter Cyclical Pymt		0.48			0.00
USDA Est Avg Price for 04/05²		2.50-3.17			4.75-5.45
	Cotton (03/04)
	Estimated	Monthly
Month	Weight	Price
Aug	3.7	0.537
Sep	4.6	0.493
Oct	9.9	0.495
Nov¹	14.9	0.444
Dec	17.7	0.410
Jan	15.5	0.394
Feb	9.9	0.399
Mar	6.9	0.392
Apr	4.6	0.381
May	4.4	0.381
Jun	4.3	0.393
Jul	3.8	0.396
KSU Est Avg Price³		0.4235
Strike Price		0.6573
Exp. Counter Cyclical Pymt		0.1373