USDA sets the crop insurance price guarantees based on the average settlement for December corn futures and November soybean futures during the month of February. Farmers can at least lock in those prices at 75 to 85 percent coverage and can purchase buy-up harvest price coverage. The harvest price is the average of the October close of the same contracts. As of Friday, December corn futures averaged $4.75 per bushel, down from last year’s crop insurance price guarantee of $5.91 per bushel. The harvest price was $4.88 per bushel.
November soybean futures averaged $11.74 as of Friday, down from last year’s crop insurance price guarantee of $13.76 per bushel. The harvest price was $12.84 per bushel.
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What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
