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URBANA, IL. – The majority of annually produced crops such as corn obviously have to be stored. According to a University of Illinois agricultural economist, for corn producers, the question at harvest time will be who will store the portion of the crop which has not yet been sold.
“The portion of the crop that has not been sold can be sold at harvest for someone else to store, or the producer can store the crop on the farm or in commercial facilities,” said Darrel Good. “For the portion of the crop stored by the producer, the second question is whether the stored crop should be priced for later delivery or held unpriced. That decision is influenced by the magnitude of the carry in the corn market, the cost of storage, and expectations about the change in corn prices after harvest.”
Good explained that for corn that is stored and priced for later delivery, the price for later delivery needs to
by Gary Schnitkey, Ag Economist - Univeristy of Illinois
In Illinois, crop insurance payments on corn likely will be lower in 2014 than in 2012 and 2013. Crop insurance payments in 2014 likely will not be large for soybeans. For both corn and soybeans, harvest prices will be lower than projected prices. However, above average yields likely will counter price decreases, leading to low crop insurance payments. Somewhat ironically, crop insurance payments likely will be lower in 2014 than in 2012 and 2013. At the same time, revenue and returns will be much lower in 2014 than in 2012 and 2013.
Product Choices of Farmers
In this article, focus is placed on revenue insurance products at high coverage levels, as most farmers purchase these products. The four revenue products available in 2013 were
by Todd E. Gleason
The National 4-H Foundation and Monsanto have put together an educational series for kids at summer camp. Learn how the Fish Farm Challenge is helping boys and girls understand world hunger, world population, science, and engineering.