Crop Insurance News
Spring Crop Prices for Revenue and Yield Protection Policies
Jan 28, 2013
By the first of March, our specialists will know the final price which will be used on policies. However, historically the average price difference between the first of February and the last day of February has been less than 20 cents for corn and less than 40 cents for soybeans. Therefore, we encourage our customers to meet with us as soon as possible. We can check current trading prices to provide a fairly close quote.
Prices for many of the Spring crops in our area are set during the month of February. The Risk Management Agency tracks the price discovery period on the commodity exchange and then sets the final price based on the average during the discovery period. For example, the corn price will be determined using the average December contract price during the month of February. The soybean price is also set during the month of February using the average November contract price.
Contact the local FCSAmerica office or call 1-800-884-FARM today. Or, click here to request a no-cost, no-obligation crop insurance plan review.