2020 Harvest Price

Corn $3.99

Soybeans $10.55

 

Both corn and soybean harvest prices are higher than the Projected Price that was set last February.

 

2020 Projected Price 

Corn $3.88

Soybeans $9.17

 

Most farmers carry Revenue Protection and are guaranteed the higher of the Projected Price (spring price) or Harvest Price. 2020 claims will be due to loss of production and those bushels will be paid out at the higher Harvest Price.

Example:

If you had a 60 bushel APH for soybeans with 85% coverage, you would be guaranteed 51 bushels per acre (60 bu. x 85%). According to the Projected Price, you would be guaranteed a total of $467.67 per acre (51 bushels x $9.17 per bushel). Since the Harvest Price is higher, you are now guaranteed $538.05 per acre (51 bushels x $10.55 per bushel).  

If your actual production is 45 bushels per acre, you will be paid 6 bushels per acre at $10.55 Harvest Price ($63.30 per acre). 

Be sure to review your production and file a claim for any production loss in 2020.