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EXAMPLES OF HOW REVENUE PROTECTION WILL WORK IN 2023
CORN:
Base Price: $5.91 Harvest Price: $4.88
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 21.1%. An example of how this works:
Approved Yield: 120 Coverage Level: 75% Final Yield: 90 bpa
120 (Approved Yield) x 75% (Coverage Level) x $5.91 (Higher of Base or Harvest Price) = $531.90 Revenue Guarantee
90 bpa Yield x $4.88 Harvest Price = $439.20 Harvested Revenue
$531.90 Revenue Guarantee - $439.20 Harvested Revenue = $92.70 / Ac. Claim Payment
GRAIN SORGHUM:
Base Price: $5.84 Harvest Price: $4.83
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 20.9%. An example of how this works:
Approved Yield: 120 Coverage Level: 75% Final Yield: 90 bpa
120 (Approved Yield) x 75% (Coverage Level) x $5.84 (Higher of Base or Harvest Price) = $525.60 Revenue Guarantee
90 bpa Yield x $4.83 Harvest Price = $434.70 Harvested Revenue
$525.60 Revenue Guarantee - $434.70 Harvested Revenue = $90.90 / Ac. Claim Payment
SOYBEANS:
Base Price: $13.76 Harvest Price: $12.84
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 7.2%. An example of how this works:
Approved Yield: 40 Coverage Level: 75% Final Yield: 30 bpa
40 (Approved Yield) x 75% (Coverage Level) x $13.76 (Higher of Base or Harvest Price) = $412.80 Revenue Guarantee
30 bpa Yield x $12.84 Harvest Price = $385.20 Harvested Revenue
$412.80 Revenue Guarantee - $385.20 Harvested Revenue = $27.60 / Ac. Claim Payment