|
| You have pointed out an error in the spreadsheets. I failed to take the higher of spring or fall price for the guarantee. I have corrected the spreadsheets and added a page to look on an acre basis.
If the fall price goes up, your revenue guarantee goes up, but your trigger yield for payment stays the same since price went up. Your yield times fall price is your revenue to compare to the guarantee.
If the fall price goes down, your revenue guarantee stays the same, but your trigger yield needed for payment goes up since price went down. 105.7 yield * $4= $422.8
MPCI price is the average daily close of the December corn futures contract during October. For soybeans, it is the November soybean futures contract during October. There are areas that have different pricing periods but the price is still based on the board price. For example, Texas may use Dec price but during the month of Sept. I don't know if that is correct, just know there are different pricing periods for different areas of US. | |
|
Understanding RP Covered Bushels Correctly
