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Eastern ND | What if You grow a 80 bu corn crop. And the price of corn goes to $9. Are you gonna be able to buy Your way out of those contracted bu? Crop ins 140 aph @ 75% = 105 bu. X $6 = $ 630. If fall price is $9 on Your 80 bu produced, it gives You a production of $ 720. That is above Your Ins guarantee----No revenue payment. Then You have 80(produced) X $ 6 (contracted price) = $480. Also have to buy 20 bu to fill your contracts @ $9 =$180. Now $ 480 - $180= $300 gross = AUCTION. I hope it will never happen like I described, but it could. I may be wrong. | |
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This is an easy decision guys...
