Diversified Services Risk Management Analyst Rich Morrison says now that the harvest price option is set for crop insurance, farmers with revenue protection should visit with their crop insurance provider. “We ended up down one dime on corn and down 30 cents on soybeans. It’s not as far down as we thought it could be,” says Morrison. “There could be harvest losses triggered and help add to payments. Farmers will need to work with their insurance agents.” Insurance agents are waiting on the official numbers from USDA. However, the October average harvest price for corn is expected to be $3.90 and $9.25 for soybeans.
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