The initial (and minimum) price guarantees for the crop revenue insurance program, which represent the daily average of the new crop futures during the month of February, have now been established for the 2019 corn, soybean, and spring wheat crops. The calculations are important because as the minimum per acre revenue farmers will receive if enrolled in the revenue insurance program, regardless of yields or price action, these are one of the factors they use to determine what crops (or mix of crops) they will plant in a given year. Further, farmers can choose to insure up to 85 percent of their proven yield.
If a farmer’s proven corn yield is 150 bushels/acre and the crop is insured at the 85 percent level, the per acre revenue gua...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
