|
East Central Illinois | As example.....ra policy with a guarantee of 150 bushel at $5....$750 guarantee premium cost $68 acre
this fall lets say for whatever reason....yield is 160 price is $6 total $960... my guarantee also has now raised to 150 x $6= $900 ,my premium still cost $68 acre and i collect nothing
Other way.....yield 120 price $6......total $720...my guarantee is now 150x$6=$900...my premium still cost me $68 acre and i collect (900-720) $180 acre
If price goes DOWN.....my guarantee is set at $750 acre regardless...my premium stays at $68 acre and i will collect any deficiency below $750 acre | |
|
Febrauray - D-day for crop insurance pricing
