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Home / Crops / Insurance / Risk Management

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.

Historical CBOT Wheat Market Prices and MPCI Price Elections
(Sep 30 Sales Closing)
		Chicago July Wheat							Chicago September Wheat
							JUL 1-14		CRC	Jul 15			CRC	CRC	RMA
			CRC	JUN	%	RA	JUL 1-14	%	late	Aug 14	%		High	Low	Wheat
		Plant	Harv.	Avg.	Price	Harv.	Avg.	Price	Harv.	Avg¹	Price	RA	Price	Price	Price
	Year	Price	Price	Change	Change	Price	Change	Change	Price	Change	Change	Volatile	Factor	Factor	Elec.

1	2008	5.93										0.26	0.9940	0.9940	4.90
2	2007	4.35	5.74	1.39	32.0%	5.94	1.59	36.6%	6.44	2.00	46.0%	0.21	0.6410	0.6410	3.90
3	2006	3.50	3.74	0.24	6.9%	3.84	0.34	9.7%	3.92	0.42	12.0%	0.19	0.4200	0.4200	3.15
4	2005	3.40	3.25	(0.15)	-4.4%	3.31	(0.09)	-2.6%	3.30	(0.10)	-2.9%	0.21	0.3730	0.3730	3.50
5	2004	3.36	3.54	0.18	5.4%	3.35	(0.01)	-0.3%	3.19	(0.17)	-5.1%	0.19	0.3100	0.3100	3.35
6	2003	3.53	3.15	(0.38)	-10.8%	3.07	(0.46)	-13.0%	3.46	(0.07)	-2.0%	0.22	0.2750	0.3100	3.15
7	2002	3.04	2.89	(0.15)	-4.9%	3.17	0.13	4.3%	3.38	0.34	11.1%	0.18	0.2750	0.3100	3.15
8	2001	2.97	2.77	(0.20)	-6.7%	2.63	(0.34)	-11.4%	2.42	(0.55)	-18.5%	0.20	0.2800	0.3150	2.80
9	2000	3.18	2.69	(0.49)	-15.5%				2.42	(0.76)	-23.8%		0.2850	0.3120	3.15
10	1999	2.99	2.55	(0.45)	-14.9%				2.84	(0.16)	-5.3%				3.30
11	1998	3.91	2.82	(1.09)	-27.8%				2.59	(1.31)	-33.6%				3.65
12	1997	3.96	3.46	(0.50)	-12.6%				3.54	(0.42)	-10.6%				3.85
13	1996	3.83	4.97	1.14	29.8%				4.57	0.73	19.1%				3.55
14	1995	3.51	3.98	0.47	13.2%				4.51	1.00	28.4%				3.35
15	1994	3.01	3.28	0.27	9.0%				3.31	0.30	10.0%				3.25
16	1993	3.19	2.83	(0.36)	-11.2%				3.09	(0.10)	-3.1%				3.00
17	1992	3.05	3.58	0.53	17.5%				3.25	0.20	6.5%				3.00
18	1991	3.10	2.86	(0.24)	-7.7%				2.88	(0.22)	-7.0%				3.00
19	1990	3.63	3.32	(0.31)	-8.4%				2.93	(0.70)	-19.4%				3.45
20	1989	3.62	3.95	0.33	9.2%				3.91	0.29	8.0%				3.00
21	1988	2.79	3.77	0.98	35.0%				3.77	0.98	35.2%				2.60
22	1987	2.38	2.66	0.27	11.5%				2.62	0.23	9.8%				2.60
23	1986	2.74	2.50	(0.24)	-8.6%				2.59	(0.15)	-5.6%				3.30
24	1985	3.49	3.23	(0.25)	-7.2%				2.96	(0.53)	-15.1%				3.75
25	1984	4.13	3.53	(0.60)	-14.4%				3.48	(0.64)	-15.6%				4.00
26	1983	3.84	3.47	(0.37)	-9.7%				3.71	(0.13)	-3.4%				4.00
27	1982	4.57	3.43	(1.14)	-24.9%				3.46	(1.11)	-24.2%				4.50
28	1981	5.00	3.96	(1.04)	-20.8%				4.05	(0.95)	-19.0%				3.50
29	1980	4.37	4.09	(0.28)	-6.4%				4.52	0.15	3.5%				3.50
30	1979	3.11	4.27	1.16	37.4%				4.26	1.15	37.0%				3.00
31	1978	2.51	3.19	0.69	27.4%				3.13	0.62	24.8%				2.50
32	1977	3.54	2.42	(1.12)	-31.7%				2.28	(1.25)	-35.4%				2.50
33	1976	4.31	3.67	(0.64)	-14.8%				3.42	(0.89)	-20.6%				2.50
34	1975	4.31	3.06	(1.25)	-28.9%				3.76	(0.55)	-12.9%				2.50
35	1974	3.75	4.03	0.29	7.7%				4.48	0.73	19.6%				2.00
36	1973	3.22	2.77	(0.45)	-13.9%				3.67	0.45	14.0%				2.00

Average Price		3.586	3.413	(0.106)					3.386	(0.108)
Sd. Deviation		0.718	0.703	0.673					0.644	0.659
Max Price Increase				1.390						1.152
Max Price Decrease				(1.247)						(1.312)
¹The approved CRC harvest price limited to maximum of $2.00 above the base price.

Department of Agricultural Economics K-State Research & Extension College of Agriculture Kansas State University