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EXAMPLES OF HOW REVENUE PROTECTION WILL WORK IN 2024
CORN:
Base Price: $4.66 Harvest Price: $4.16
The Harvest Price on corn came in lower than the Base Price, which effectively increases your guaranteed yield. Your corn yield guarantee will be increased by about 12%. An example of how this works:
Approved Yield: 160 Coverage Level: 75% Final Yield: 120 bpa
160 (Approved Yield) x 75% (Coverage Level) x $4.66 (Higher of Base or Harvest Price) = $559.20 Revenue Guarantee
120 bpa Yield x $4.16 Harvest Price = $499.20 Harvested Revenue
$559.20 Revenue Guarantee - $499.20 Harvested Revenue = $60.00 / Ac. Claim Payment
GRAIN SORGHUM:
Base Price: $4.67 Harvest Price: $4.17
The Harvest Price on grain sorghum came in lower than the Base Price, which effectively increases your guaranteed yield. Your grain sorghum yield guarantee will be increased by about 12%. An example of how this works:
Approved Yield: 120 Coverage Level: 75% Final Yield: 90 bpa
120 (Approved Yield) x 75% (Coverage Level) x $4.67 (Higher of Base or Harvest Price) = $420.30 Revenue Guarantee
90 bpa Yield x $4.17 Harvest Price = $375.30 Harvested Revenue
$420.30 Revenue Guarantee - $375.30 Harvested Revenue = $45.00 / Ac. Claim Payment
SOYBEANS:
Base Price: $11.55 Harvest Price: $10.03
The Harvest Price on soybeans came in lower than the Base Price, which effectively increases your guaranteed yield. Your soybean yield guarantee will be increased by about 15.2%. An example of how this works:
Approved Yield: 50 Coverage Level: 75% Final Yield: 38 bpa
50 (Approved Yield) x 75% (Coverage Level) x $11.55 (Higher of Base or Harvest Price) = $433.13 Revenue Guarantee
38 bpa Yield x $10.03 Harvest Price = $381.14 Harvested Revenue
$433.13 Revenue Guarantee - $381.14 Harvested Revenue = $51.99 / Ac. Claim Payment