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The RMA has revised US sorghum crop insurance, setting the 2024 sorghum price election at 100.2%, the highest ever and above corn for the first time. Changes also drop the two-year irrigated silage history requirement in New Mexico, Oklahoma and Texas and remove the written agreement for irrigated double crop sorghum.
A higher insured price gives growers more reason to plant sorghum instead of corn, which could expand supply over time. The effect on near-term prices is modest.
world-grain.comSusan ReidyNov 30, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
