CRC harvest price protection

[Jared 1066]

Hey guys,

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.

Example,

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.

Thanks,

Jared

[Steakmaker]

The fall harvest price is calculated by taking the average closing price on the CBOT for Dec futures each day during the month of Oct. If the ave. price is over $3.90(CBOT)you'll use the fall price