Crop Insurance Prices for Spring '19

[marketeye]

Folks,

The Spring crop insurance rates have been released. Here they are:

Corn=  $4.00

Soybeans=  $9.54

Do you include crop insurance into your grain marketing plan? If so, hopefully, these numbers will help.

Mike

[JimMeade]

Since I'm not in the farm program, I apply the insurance premiums to smarter marketing.  (that's a joke)

I have dec corn sales offered starting at 4.10 and nov soybeans starting at 9.75.  

[BA Deere]

Crop insurance is my marketing plan, I hope I`m wrong but if I had to bet (and I do) in my area we won`t have an opportunity to sell or lock in those prices because of basis.  If $3.60 is the best price on corn offered (a whole 40 cents below the guarantee) some will go ahead lock it in anyway because it`ll be $2.95 in August and $3.20 off the combine and rally to a whooping $3.40 this Christmas.  It`s getting so I don`t even have to look at the songbook to keep up with the choir anymore.

[smokeyjay]

What’s your basis on them?

[BA Deere]

Oh 40-50 cents on corn 20-30 at e-plant feedmill.   80-$1 at elevator, 60 at soymeal plant.  And that`s what it is, there`s no meaningful "locking in basis" around here, it sucks all the time.