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USDA's Risk Management Agency has created enhanced insurance coverage for irrigated grain sorghum in selected counties of Colorado, Kansas, Oklahoma and Texas, effective 30 November 2022 for the 2023 crop. Producers can index indemnities to irrigated corn as a proxy crop, using 80% of the irrigated corn yield for the guarantee.
The grain sorghum price is unchanged.
Better insurance options may encourage irrigated sorghum planting in the 2023 crop, which affects future supply. The effect on prices is limited and mainly long term.
newsdakota.comJamie DickermanDec 5, 2022Not 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.
