Crop Insurance Payments - an interview with Gary Schnitkey
Gary Schnitkey, Agricultural Economist - University of Illinois
Harvest prices used to determine crop insurance payments for corn and soybeans policies in Midwest states are based on settlement prices of Chicago Mercantile Exchange (CME) during the month of October. October has come to an end, and 2016 harvest prices are known. The 2016 harvest price for corn is $3.49 per bushel, 10% lower than the $3.86 projected price. The soybean harvest price is $9.75 per bushel, 10% higher than the $8.85 projected price.
Todd Gleason talked with University of Illinois Agricultural Economist Gary Schnitkey about the expected payments.