The crop insurance harvest price for corn is higher than the spring base price.
Farm management analyst Kent Thiesse with MinnStar Bank in southern Minnesota says the final 2022 price is $6.80 compared to $5.90 in the spring.
“Since the harvest price is higher, that price gets used. They recalculate your insurance guarantee to the higher price if you have revenue protection insurance with harvest price protection.”
For farmers that don’t, he tells Brownfield indemnity payments will be substantially lower.
