On December 2, 2019, the Risk Management Agency (RMA) issued Product Management Bulletin: PM-19-072 announcing the 2019 Common Crop Insurance Policy and Area Risk Protection Insurance harvest prices for certain crops and states. https://www.rma.usda.gov/en/Policy-and-Procedure/Bulletins-and-Memos/2019/PM-19-072.
ANALYSIS – For the crops and states contained in PM-19-072:
For corn in Idaho, Michigan, Oregon and Washington the price decreased from $4.00 a bushel to $3.74 a bushel. Organic corn prices decreased from $9.22 a bushel to $8.62 a bushel.
For cotton in Kansas, New Mexico and Oklahoma, the price decreased from $.73 a pound to $.64 a pound and for organic, $1.15 a pound to $1.06 a pound.
For soybeans in Alabama, Florida, Georgia, North Carolina & South Carolina the price decreased from $9.65 a bushel on February 15, 2019 to $9.12. For organic soybeans, the price decreased from $19.27 a bushel to $18.21 a bushel. For soybeans in Delaware, Maryland, Oklahoma, Virginia & West Virginia the price increased from $8.83 a bushel to $9.12 a bushels and organic increased from $17.81 a bushel to $18.21 a bushel.
The price of popcorn in Michigan decreased from $.1720 a pound to $.1608 a pound and organic decreased from $.2476 a pound to $.2315 a pound.
All statements made are opinions of the author and are not intended to provide legal opinions or legal advice.