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Rockford, IL | The spring price is actually $4.62 in most parts of the U.S.
I think it is better for the individual farmer to get in the fields, make a yield determination, divide your revenue guarantee per acre by bushels to determine what the PRICE needs to be before they start collecting an insurance payment. It just seems to resonate a little better and helps the farmer manage his risk.
If the current futures price is higher than your price then you know you still have downside price risk and you can plan accordingly. If the futures price is lower than your price you know that you have price risk to the upside.
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Nobody in Illinois
