The Vice President of Farm Services at NAU Country Insurance says crop insurance prices are a mixed bag for the upcoming growing season.
Rich Morrison says the prices, set in February using the monthly average of commodity prices, are used to determine revenue guarantees for the entire year for farmers who choose revenue protection.
“For corn, we ended up at $5.91 per bushel. Soybeans are at $13.76 per bushel. Cotton is at 84 cents per pound and sorghum is at $5.85 per bushel.”
Revenue protection insures farmers against yield losses from natural causes like drought or disease and revenue losses caused by a change in the harvest price from the projected price.