Most insureds have Revenue Protection on their corn & Soybeans, which provides a revenue per acre guarantee. The projected price or spring price is set in February for September delivery. The spring price for Soybeans was \$13.76 per bushel, and corn was \$5.91.

To calculate the revenue per acre, you can use the formula:

APH X level of coverage X \$13.76 (spring price)

For example, if your APH is 45 bushels per acre and you have 75% coverage, your revenue guarantee would be (45 bu X 75% X \$13.76) = \$464.40 per acre.

Now, the Fall price of soybeans has been finalized at \$12.84 per bushel.

Yield X \$12.84 (fall price)

Assuming your yield matches your original guarantee (45 bu X 75% X \$12.84), you would have a revenue of \$433.35 per acre for the fall crop.

n this following example, if your actual yield matches your guarantee, there would be a revenue loss:

=-=-   \$464.40 (spring revenue)

=-=    -\$433.35 (fall revenue)

=- =\$31.05 per acre payment

For those who use a bushel number as a trigger, you can also calculate your guarantee.

To calculate your guarantee, you can use this formula:

(APH X Level of Coverage) = Guaranteed bushels

For example, if your APH is 45 bu per acre and you have 75% coverage, your guaranteed bushel in the spring would be 33.75

Guaranteed bushels x Spring Price = Guarantee Revenue

Taking the guaranteed bushel of 33.75 x \$13.76 spring price = \$464.40

Guarantee Revenue ÷ Fall Price = New Bushel Guarantee

\$464.40 ÷ \$12.84 = ≈36.2 bu

This price decline in Soybeans guarantees you approximately 7% (\$13.76/\$12.84=1.071) more bushels than your spring guarantee.

Use same formulas for Corn using the spring and final harvest prices

Corn Spring Price \$5.91

Corn Harvest Price \$4.88

Please refer to the attached trigger chart to determine if you have a loss on your wheat.

Harvest Price Trigger Chart – 2023 Soybeans

Harvest Price Trigger Chart – 2023 Corn