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Advisor

Re: Early frost all the bulls have left??

I personally believe the report is going to bring some bad newd to the bear side.  That being said,  I figure my 2013 corn production will be right at or under my 85% RA level of 145-140 guaranteed bushels. - $ 819.00 bu/acre.   I have enough storage and do not need to sell anything....a $ 3.00 corn fall price would trigger a $ 193K payment...which is deferrable to 2014

 

The only folks who are screwed are ones who are counting on higher prices , raise more than their guarantee and need the extra money to cover their nut on high rent, expenses, etc.  

 

$ 3.00 corn???  Bring it on.

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Advisor

Re: Early frost all the bulls have left??

Anybody think the powers that be will use this report, if bearish, to justify cutting support for ag insurance due to it being to expensive?

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Senior Contributor

Re: Early frost all the bulls have left??

I am sorry, but all income from a price loss  is reportable in the year that it happened.  Only a yield loss can be carried over to next year.  IRS will be all over you if you try that.   So if your APH  coverage is at 145 bushels and you grow 146 bushels but the fall price is $3 for an example.  Then your $100,000 +    loss is all reportable in 2013 income year, no deferment allowed.    I think you had better talk to your crop insurance agent..

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Contributor

Re: Early frost all the bulls have left??

WOW  WRESTLER   did u  look  awful there  with   THAT call 

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