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The USDA Risk Management Agency set the 2022 reinsurance-year sorghum crop insurance price election at 99.6 percent of the corn price, up from 96 percent for 2021. The formula uses a 10-year rolling average of elevator bids.
National Sorghum Producers says this gives farmers their highest price protection relative to corn in the program's history.
Higher insured prices encourage farmers to plant sorghum, which can add supply later. The change also signals that sorghum is priced close to corn, which matters for feed substitution decisions.
sorghumcheckoff.comClint WhiteJan 10, 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.
