This year I got the harvest price protection option with my CRC policy.
My question is that with the rally we have had in the corn market lately, will my average price be going up? and how do they figure the fall price. do they use the CBOT price or cash at the elevator.
Dec corn is around $4.73 CBOT
Cash bid at the elevator is $4.30 for fall delivery
So would I get,
129 aph X $4.73 $610 Or 129 aph X 4.30 =$ 554
I am just using these as an example I know the actual price will probably differ.