What Will be The February Insurance Price
February sets the price level for crop insurance on Corn, Beans and some of the other major crops. Last year’s spring price was $5.68 for corn and $12.55 for beans.
We have had 4 trading days for this month out of 20 total and so far the average corn price is $5.89 and the average bean price is $13.40. After coming off of the large harvest prices, these levels may seem low, but they are still higher than compared to the same 2012 numbers.
We have 16 trading days to go and this Friday’s USDA report may provide a dramatic swing either way.
We will keep you posted.
Paul Neiffer, CPA
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
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