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| It is figured off of cash prices, but a) It's a national price; b) It's a weighted annual price. So the prices during the first three months or so after harvest have a greater weight than later in the marketing year. Thus, the lower prices now aren't having a whole lot of impact on the national annual average price. And since it's national, places with weaker basis (and thus lower cash prices) are hurt by places with higher prices, since those areas pull up the price nationally, leading to a lower PLC payment. | |
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Updated MYA Price Estimates for ARC and PLC Commodity Programs- by K-State
