Go through the options to get to the lrp you want to look at. You can see a price/cwt and also a producer premium/cwt. That shows you what the subsidized amount is.
Yes the premium you pay for the LRP contract (that expires 3-10 weeks before the underlying put option) PLUS the residual of that put at LRP end date, added together, will be almost exactly the actual price/cwt of the LRP before the “subsidy”. If there’s a subsidy, the underwriters are doing a GREAT job of keeping it.
I’ve calculated it half a dozen times and keep coming to the same conclusion, someone else is getting the subsidy.