NAU Country Vice President of Farm Services Rich Morrison says the average crop prices the USDA gave in Wednesday’s supply and demand report will trigger Price Loss Coverage payments, if confirmed. “The government lowered the market year average estimate on corn on Wednesday to $3.10. If realized, that would be 60 cents below the PLC trigger price for next year. That marketing year begins on September 1 and runs through August 31. As of right now, we’d be forecasting a 60 cent PLC payment on corn, $1 on wheat and even a nickel on soybeans. If prices stay where they’re at, we’ll be looking at some money.”
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