Ep. 30 Crop Insurance Decision Maker 2025 Decision Tool

00;00;07;18 – 00;00;09;24
Riley Smith
But anyway, you ready to get cranking?

00;00;09;24 – 00;00;10;15
Dr. Hunter Biram
Let’s do it.

00;00;10;16 – 00;00;22;09
Riley Smith
All right. Good morning. Good morning. Welcome to another episode of Morning Coffee Markets with your host, Riley Smith. Today we’re in the bowels of University of Arkansas Cooperative Extension, AKA.

00;00;22;16 – 00;00;23;20
Dr. Hunter Biram
It makes it sound so gross.

00;00;23;21 – 00;00;26;16
Riley Smith
I know but, a.k.a. the basement.

00;00;26;18 – 00;00;27;19
Dr. Hunter Biram
Yeah, we in the studio.

00;00;27;19 – 00;00;45;10
Riley Smith
We are in the studio. After several weeks of well, we were off and then production meetings and yeah, that’s for conferences. Conference meetings, conference meetings fired up and that’s right, we have been scattered to the wind, as my grandpappy would say.

00;00;45;16 – 00;00;53;25
Dr. Hunter Biram
Yeah, lots of work to be done. I mean, it’s just it’s a very difficult time, but I’m glad that, you know, that we’re able to provide that information for them.

00;00;53;28 – 00;00;59;12
Riley Smith
Quick note, before we get into what we’re talking about, I did see our tariffs got held off.

00;00;59;14 – 00;01;13;09
Dr. Hunter Biram
Yeah. Canada and Mexico at least. And commodities with China. So that’s good news. AG machinery. China’s got some retaliatory tariffs on ag machinery. But other than that commodities are safe for the time being.

00;01;13;12 – 00;01;38;15
Riley Smith
Yeah. Really, I guess looking forward to the growing season. It’s been a really the planting season been long awaited. I feel like we harvested. And then it was like we got to so quickly, and now it’s. Well, we got through, and then everybody started cutting cotton and I’m like, gosh, we’re we’re two months out from planting.

00;01;38;15 – 00;01;55;27
Dr. Hunter Biram
And it just looks so sad when you’re driving all up and down East Arkansas. And you just see bare fields. I mean, don’t get me wrong, I love seeing the ducks whenever they’re out there, but there’s no ducks out there and just driving on 67 or on 40 or 55, and all you see are just pretty much mud pastures.

00;01;55;29 – 00;01;56;04
Dr. Hunter Biram
I’m.

00;01;56;04 – 00;01;56;15
Dr. Hunter Biram
Like, man.

00;01;56;15 – 00;01;57;17
Dr. Hunter Biram
Like, there needs to be some.

00;01;57;17 – 00;01;58;05
Dr. Hunter Biram
Green out there.

00;01;58;05 – 00;02;21;16
Riley Smith
Yeah, I was looking at well mostly what I’ve been looking at as far as bare fields go. You know, a lot of those guys disk their levees, rice levees under already. And so they went ahead and turned the field over once. And it’s just that time of year, 1st February, things start. You know, we get out of duck season and everybody everything’s fine.

00;02;21;17 – 00;02;33;14
Riley Smith
Starting to kind of meander back up north to the mother land. And we have had a extreme amount of geese.

00;02;33;16 – 00;02;34;03
Dr. Hunter Biram
There have been a.

00;02;34;03 – 00;02;34;12
Dr. Hunter Biram
Lot

00;02;34;12 – 00;02;54;06
Riley Smith
Oh my. We have had every day I can take you to three fields that I drive by every day. And it went from there. Started out there was a little pod of geese about, to, you know, 1 or 200 to me, small. And then I went by there the other day and I could see them two miles away.

00;02;54;08 – 00;03;16;26
Riley Smith
And I went by there, and there was probably 5000 sitting on that same field. And I went down and there was two other fields that they had jumped. And so there was 5000 here. There’s 2000 here. And there was, you know, just these big pods, geese and ducks in our area. Anyway, I live in the floodplain, and everybody that does knows that the water has been.

00;03;16;28 – 00;03;31;03
Riley Smith
And, it’s been over a lot of county roads in my part of the world, but ducks have been all over the place, too, and looking pretty good for the youth. And besides, it’s going to be warm. That’s this weekend. So anyway,

00;03;31;05 – 00;03;48;00
Dr. Hunter Biram
But yeah, like you said, I mean, you know, we’re out and about, at, extension production meetings, and as you said, February, it’s time to start making decisions, getting in your head back into it. And so, hopefully today we can shed some light on a particular decision that people are. Yeah.

00;03;48;00 – 00;04;20;21
Riley Smith
It’s been it’s been, Been some not very satisfying news. But at the same time, growers need to know this kind of information. But today, what we’re talking about is something very, very, important in farming. As of lately, crop insurance. So, Dr. Hunter Biram is going to be talking about crop insurance. Decision maker, 2025. So to get us cranked out, I just want you to explain to us what is crop insurance, you know, from a 30,000ft view.

00;04;20;23 – 00;04;48;12
Dr. Hunter Biram
Yeah. So think of it as just think of your auto insurance. I mean, what are you trying to do? You’re trying to insure against an accident. So you’re ensuring that you’re going to have pretty much a vehicle or something going to happen, right? Like say you told that thing and you’ve got, depending on whatever coverage you have, just for a real easy example, you know, you get into an accident and then your insurance company gives you an indemnity and boom, you know, you get another car because you’ve insured that you’ve got that car.

00;04;48;14 – 00;05;02;02
Dr. Hunter Biram
Same with your house, same thing, you know, say that, you know, tornado comes through, knocks it down. Or maybe a rat got into some wires and it burned down. And you want to be able to insure that you’re going to have, money to be able to build a new house or buy a new house. And so it’s all about insurance.

00;05;02;02 – 00;05;18;27
Dr. Hunter Biram
So crop insurance, we think of that from the farmers perspective, from the producers perspective. And they’re trying to guarantee that they’re going to have crops. So we’re going to insure we have crops. Now you say, well there’s no way to insure that you have crops. You are correct. But what we can insure is the value of the crop.

00;05;18;27 – 00;05;40;21
Dr. Hunter Biram
Right? So, you know, there’s a yield protection out there and you know, some people, you know, I always like to bring up, why don’t we just say, okay, if a farmer loses some bushels, why doesn’t RMA or, somebody just bring the farmer that lost bushels and say, okay, market them. It’s not very efficient.

00;05;40;29 – 00;05;59;00
Riley Smith
Well, that’s kind of like I’ll give you an example. It’s kind of like cattle. So like when you hedge cattle on the market and you have so many cattle and so many head that you’re supposed to bring on delivery day. And that’s why it’s so important to have your death loss down, because if you lose one, you have to replace that somewhere.

00;05;59;02 – 00;06;09;17
Riley Smith
Let’s be like RMA This is a terrible example. But like RMA bringing a bringing a rancher like, hey, you lost two, you know, two yearlings. Here’s your two yearlings.

00;06;09;23 – 00;06;10;12
Dr. Hunter Biram
To market them.

00;06;10;15 – 00;06;11;03
Riley Smith
Now market them!

00;06;11;10 – 00;06;26;19
Dr. Hunter Biram
Right. And but that’s in principle what’s happening. But we convert that loss into a dollar amount by multiplying it by price. And so, we are insuring the crop. But really what we’re insuring is the value of the crop. So we’re trying to guarantee a certain value of the crop.

00;06;26;22 – 00;06;34;02
Riley Smith
So is that like okay. Because we talk about so many acronyms you have yield protection but you also have revenue protection.

00;06;34;02 – 00;06;56;05
Dr. Hunter Biram
That’s right. Yeah. And so that’s a great segue into what we’re going to talk about as rice and the crop insurance decision maker 2025, which is a totally free online web based decision tool, which there’ll be a link in the, newsletter for our readers. But what the decision tool shows is, a different expected revenues, net of cost.

00;06;56;05 – 00;07;16;29
Dr. Hunter Biram
And those costs are going to be based on our USDA crop enterprise budgets. And the expected revenues are going to be based on, more or less a simulation of prices and yields. So what we’re trying to do is simulate, the growing season several times and create a distribution of prices and yields and create possible outcomes of revenue.

00;07;17;02 – 00;07;38;03
Dr. Hunter Biram
And then we’re going to take an average of that. And then we’re going to just do that average minus the cost. And so we have that for a case with no insurance as well as eight scenarios where we have the 50, 55, 60, 65, 70, 75, 80, 85 cover percent coverage level. And there’s eight coverage levels and all these products, as Riley just said, there is a yield protection.

00;07;38;05 – 00;07;55;20
Dr. Hunter Biram
There’s also a revenue protection. And then there’s another one called revenue protection harvest price exclusions. So those are what your top three, what I would say our individual plans of insurance. And I’m not even going to into the weeds a whole lot on that. I will include a link to the workbook and a link to the short course, in the newsletter.

00;07;55;22 – 00;08;18;29
Dr. Hunter Biram
But yes, those are going to be the main, products being considered here. Those are the different coverage, the different coverage levels versus a no insurance case. And then there’s two primary sets of results. One is if you’re risk averse. And so maybe you’re really afraid of losing money. Maybe you’re really afraid of drought. Maybe you’re really afraid of rainfall, excess precip, excess precip.

00;08;19;01 – 00;08;34;16
Dr. Hunter Biram
Let’s say you’re pretty you’re probably a risk averse person, and most farmers are. And so, there’s a set of results for that. Maybe you’re risk neutral. You’re very indifferent. You’re like, all right, put the put the crop in the ground. We’ll see what happens. Okay, cool. But no, like most farmers are going to be risk averse.

00;08;34;16 – 00;08;47;19
Dr. Hunter Biram
And so we’ve got a risk neutral set which is just the expected revenue minus the cost. And then the risk averse case gives you, you know, if someone is risk averse and takes into account, what I would call a risk preference.

00;08;47;19 – 00;08;58;26
Riley Smith
So in your professional and expert opinion in crop insurance, I know that you’re not a grower, but in your expert opinion, is crop insurance ever worth it?

00;08;58;29 – 00;09;17;09
Dr. Hunter Biram
It totally is. It totally is. And I know that it costs money. So, listen, I’ve spoken with probably hundreds of producers in Arkansas about this, and we’ve had great dialog and great conversations. And, you know a lot who will say, well, I just don’t want to pay the premium or the premiums to expensive, I get it, I totally do.

00;09;17;12 – 00;09;40;01
Dr. Hunter Biram
But whenever we run these models, the, the outcome would tell me that at least by something I’m not saying by the max insurance, but by something, because nearly every single case I want to say I do want to. I think it is every single case that we look at every county, every crop, between Arkansas. And then I’ve got a friend who has a grad student in Kentucky.

00;09;40;01 – 00;09;46;23
Dr. Hunter Biram
We’ve looked at Kentucky as well. And it’s like, almost by and large, it is always better to get some insurance versus no insurance.

00;09;46;23 – 00;10;03;26
Riley Smith
Well, that’s like people in vehicles, not everybody’s dealers. So therefore you get you get car insurance on your vehicle no matter if it’s liability or premium. Yeah. You got to have some kind of insurance on that vehicle. Otherwise you’d be buying a new vehicle all the time.

00;10;03;28 – 00;10;04;18
Dr. Hunter Biram
That’s exactly.

00;10;04;18 – 00;10;04;26
Dr. Hunter Biram
Right.

00;10;04;26 – 00;10;06;28
Riley Smith
Newer I shouldn’t say brand new, but.

00;10;06;28 – 00;10;08;12
Dr. Hunter Biram
And paying out of your own pocket.

00;10;08;12 – 00;10;09;07
Riley Smith
Absolutely.

00;10;09;07 – 00;10;18;06
Dr. Hunter Biram
So yes, the short answer to that question is, yes. And, we we show that with all these different scenarios in the tool.

00;10;18;08 – 00;10;29;28
Riley Smith
So even with that. So we were talking about premiums. So even with a premium you find that crop insurance is always optimal. No. to no crop insurance. Why is it.

00;10;30;00 – 00;10;50;00
Dr. Hunter Biram
Yeah I mean we do have the premium to contend with. And that’s what I always hear and I get it. But that’s insurance right. Like it’s not it’s not it’s not more or less of an income transfer. You’re insuring a level of revenue for a price. And that price is the premium. And so this, this, these, that this tool does include that premium in here.

00;10;50;00 – 00;11;15;07
Dr. Hunter Biram
So it is already built. It’s already baked in. And so even with that premium what what the insurance does is it guarantees a certain level of, crop value, a certain level of crop revenue, and a farmer won’t make anything below that. But that’s totally a function of the, coverage level. So, like, if you get 75% of 10% of $1,000 is 7 or $50, so.

00;11;15;07 – 00;11;33;28
Dr. Hunter Biram
Okay, but 50%, that’s $500. So think about this. The more you’re going to guarantee, the more it’s going to cost, because there’s a whole lot more crop value. Excuse me. Two to insure. So yes, you will have to pay more to get more. But that’s just it. Like you’re going to guarantee a higher level.

00;11;33;28 – 00;12;05;03
Riley Smith
Of well, it’s in the same principle applies to just insurance in general. You pay a premium on health insurance that’s just less out of your pocket when you have to go to the hospital. Or take an ambulance ride, or because of my dad’s an EMT and a volunteer firefighter, and he’s always preached to me, get get coverage no matter if you use it once, but if you have to take a helicopter ride, he said, it’s a lot better than getting that $20,000 bill in the mail.

00;12;05;05 – 00;12;08;05
Riley Smith
When it cost you $15 a month.

00;12;08;07 – 00;12;23;28
Dr. Hunter Biram
It’s something else. You’re I mean, you that’s a great example. And something else that, you know, I’ve spoken with folks about is it helps people to secure operating loans, helps people to secure production loans. Because why you’re guaranteeing the revenue, you’re guaranteeing that gross farm. Yeah.

00;12;23;29 – 00;12;27;08
Riley Smith
Now, you know, now your lender has security knowing that you’re covered.

00;12;27;14 – 00;12;28;03
Dr. Hunter Biram
Exactly.

00;12;28;05 – 00;12;45;03
Riley Smith
So with that, I know we’ve I’ve, we’ve chewed it pretty fine here. Talking about in the difference between the results and how our listeners can interpret. But is there anything else that you want to, I guess, chew a little finer? Yeah. Might want to bring more to light.

00;12;45;10 – 00;13;04;26
Dr. Hunter Biram
Yeah. So, here in the studio, this is where I wish that we had, like, a video portion, maybe one of these days. But here’s to you. I’ve actually pulled up, the tool, and, Rory and I are looking at it right now. And so in the newsletter, you’re going to see the, screenshot of, I chose Craighead County for soybeans in Arkansas.

00;13;04;28 – 00;13;27;00
Dr. Hunter Biram
And so currently what we’re looking at is actually in this case, it looks to be maybe the 80% coverage level for yield protection is going to, result in the highest net revenue per acre or that highest expected revenue, net of the cost. So it looks like 80% in that case. Now that’s with optional units. Now, there’s also, basic units.

00;13;27;00 – 00;13;48;00
Dr. Hunter Biram
And so you can change the basic units. And we see that it goes from 80% wipe up to 85% wipe is optimal. Go to enterprise units which are the cheapest units. And then we see that it’s still 80%, wipe but are starting to, start. They started to make an entrance as, maybe an optimal, coverage as well.

00;13;48;02 – 00;14;07;15
Dr. Hunter Biram
On top of that, you can choose, if you’re going to go Arc or PLC, which we will do another episode on on that, later. But for now, for some folks in the Tulsa. So you can go in there and you can put arc in and you can see how that changes, which are optimal level is you can put PLC in there and see if that changes your optimal level or not, and your optimal coverage.

00;14;07;15 – 00;14;20;00
Dr. Hunter Biram
And so you can see how those title one farm programs work, in conjunction with, crop insurance and how that can help you, to secure more expected revenue.

00;14;20;03 – 00;14;23;23
Riley Smith
Let’s going to some, very compelling stuff.

00;14;23;25 – 00;14;26;20
Dr. Hunter Biram
Yeah. It’s, you know, it’s the.

00;14;26;22 – 00;14;38;22
Riley Smith
Reason why I say that is, is because Doctor Biram gets over my head sometimes when he talks about insurance because he. I’m that guy that sitting in here. I’m one of the listeners. I’m trying to interpret it as fast as I can know.

00;14;38;22 – 00;14;49;12
Dr. Hunter Biram
You’re doing great. I mean, really the the main takeaway from this is you’re guaranteeing value, guaranteeing crop value. You’re guaranteeing revenue, you’re guaranteeing gross income. That’s really what you’re trying to do.

00;14;49;15 – 00;14;52;21
Riley Smith
That guarantee doesn’t mean that you make a profit.

00;14;52;24 – 00;14;55;06
Dr. Hunter Biram
That is an excellent point. You’re absolutely right.

00;14;55;12 – 00;15;03;14
Riley Smith
Because I don’t want I don’t I don’t want listeners and growers to get this idea that, oh, if I get if I get crop insurance, that may make me a profit.

00;15;03;17 – 00;15;16;06
Dr. Hunter Biram
Indeed. No, you’ve nailed it. Riley And I mean, I’ve heard people come, you know, ask me questions and make that point to me and say, well, why should I do it? I’m not going to make any money on it. And, you know, it’s it’s there is kind of a doomsday scenario, really.

00;15;16;11 – 00;15;25;11
Riley Smith
But this past year was a good example. When you got $4 bushel corn and $9 bushel beans having crop insurance would have been a very safe play. Yeah.

00;15;25;11 – 00;15;41;02
Dr. Hunter Biram
And you know, one thing that insurance does is it it provides those within season, safeguards. And so you mentioned the four in the $9. I did not look at last year’s. I can pull that up real quick though. So let’s just see what the price change was year over year.

00;15;41;03 – 00;15;44;07
Riley Smith
Well, just to get you prepared, I’m fixing to address the elephant in the room.

00;15;44;08 – 00;16;08;14
Dr. Hunter Biram
Time out. Okay, so last year, everybody, the projected price for soybeans last year was $11.84 And in the spring, the harvest for us was $10.03 The price fell $1.81 cents. So you could have guaranteed that $11.84 in lock that in with a revenue policy. So that’s something to to be thinking about. Now we’re sitting and sitting on a $10.50.

00;16;08;14 – 00;16;18;25
Dr. Hunter Biram
So the guarantee might not be as high. I hope that we don’t get to ten and down into nine. But you know, if if the tariffs take off like they did last time, we might be seeing that now.

00;16;18;25 – 00;16;24;21
Riley Smith
My uh my Curiosity’s peak. Now, what happens if that harvest price is $1.83 above.

00;16;24;23 – 00;16;25;12
Dr. Hunter Biram
Very good.

00;16;25;12 – 00;16;31;20
Riley Smith
So if dollar 81 or no $1.80. Yeah. Dollar 81. Yeah.

00;16;31;22 – 00;16;40;12
Dr. Hunter Biram
So in that case if you have R.P., you actually get to set your guarantee based on that higher price, which is really nice. But with the HPE you wouldn’t be able to do that.

00;16;40;14 – 00;16;56;01
Riley Smith
Okay. Well you were talking about how the price was locked in, and I didn’t know if that was kind of like hedging cattle. You know, you you have to take the price that you locked in. Even if the market price goes up, you deliver them on that day. And based on what the price that you guaranteed it. Yeah.

00;16;56;02 – 00;16;57;11
Riley Smith
Okay. I didn’t know if that was the same.

00;16;57;11 – 00;17;07;22
Dr. Hunter Biram
Kind of at Foward Contracting. It’s very similar to that. So that’s that’s one way to think about it. Yeah. It’s like a, it’s like a spring time. You’re locking in price. With this particular policy. Okay.

00;17;07;25 – 00;17;35;02
Riley Smith
So my question kind of address the elephant in the room, because I know I’ve actually seen this when I was at one of the meetings. A lot of growers, you know, or very, I would say not pessimistic about crop insurance, but leery of crop insurance. You know, it was looked at if you were taking out crop insurance on your crops, that you weren’t a very good farmer in this case, in this time, that’s not the case.

00;17;35;09 – 00;17;49;27
Dr. Hunter Biram
No, no. And I mean, it’s one of those things where, I mean, if something happens, something happens. I mean, if it’s too wet at planting, if it, if there’s rainfall, but you got maybe a one inch stand, you know, you got to replant, you know, I mean, that things just happen.

00;17;49;27 – 00;18;01;03
Riley Smith
And something that I learned at that particular meeting, I think, you know what I’m talking about. At that particular meeting, you know, that one individual come up and he felt bad because he actually did good because he had crop insurance.

00;18;01;03 – 00;18;01;23
Dr. Hunter Biram
Yeah. No.

00;18;01;23 – 00;18;10;03
Riley Smith
And then and then they brought up the point you were talking about replant that I think everything insurance wise now is 100% replant.

00;18;10;05 – 00;18;27;08
Dr. Hunter Biram
Yeah. I mean that’s an option. So replant is an option. It is included in these policies that we’re talking about right now. Prevent plant is included in these policies that we’re talking about right now. But you know you also get that production guarantee. So there’s like three different coverages that are all embedded in that one policy.

00;18;27;14 – 00;18;34;14
Riley Smith
But I guess the take home message is, is that crop insurance now is not like it was 40 years ago, 30 years ago.

00;18;34;14 – 00;18;35;14
Dr. Hunter Biram
There have been a lot of changes.

00;18;35;14 – 00;18;43;19
Riley Smith
A lot of changes. And that can mean life or death for your operation. Now, if he would just get some kind of crop insurance.

00;18;43;27 – 00;19;03;19
Dr. Hunter Biram
Indeed. And parting thought on. This is just a change in perspective. Maybe a frame of reference. You know, I think it’s it’s I think you I think we should think about an insurance premium almost as a cost of production. Why? Because when you pay that premium, you’re already guaranteeing that value, right? You’re already guaranteeing that yield. Essentially.

00;19;03;19 – 00;19;07;05
Riley Smith
Don’t look at it as an additional. Just go ahead and factor that into your costs.

00;19;07;12 – 00;19;28;00
Dr. Hunter Biram
Because people are going to put fertilizer in as they should. They’re going to put that herbicide application on as they should, and they’re trying to guarantee a level of production. But what that does and you should but put in, you know, do your inputs, do your sound management, do all that thing, do all those things. But what the fertilizer does not do is guarantees that the value is going to be there.

00;19;28;03 – 00;19;31;23
Dr. Hunter Biram
It just gives you a higher probability of getting a better yield, is what that does.

00;19;31;24 – 00;19;33;00
Riley Smith
It’s just a gamble.

00;19;33;02 – 00;19;35;25
Dr. Hunter Biram
But insurance warranty that you have the value.

00;19;35;29 – 00;19;38;00
Riley Smith
Right just lowers your risk.

00;19;38;02 – 00;19;40;03
Dr. Hunter Biram
Indeed, that’s what it’s all about risk management.

00;19;40;03 – 00;19;41;20
Riley Smith
Risk management. That’s what we’re here to do.

00;19;41;21 – 00;19;42;17
Dr. Hunter Biram
We’re all about.

00;19;42;20 – 00;19;49;29
Riley Smith
Well, last and parting question. When is the deadline for our listeners to get with a crop insurance agent?

00;19;50;01 – 00;20;06;16
Dr. Hunter Biram
So I’m in Arkansas. February the 28th is going to be sales closing. So I would recommend go ahead and try and talk with your agent. Now evaluate last year’s policies if you’re a returning customer, if you’re a brand new customer, you know, there are many agents that are out there. There’s actually an agent finder online.

00;20;06;16 – 00;20;21;24
Dr. Hunter Biram
If you go to USDA RMA you know, crop insurance agent finder, they’ll help you find one. Or if you want to, you know, reach out to me, there are a whole long laundry list of folks that I know that I’d be happy to put you in touch with. So, something to be thinking about if you do things too expensive, I get it.

00;20;21;26 – 00;20;28;29
Dr. Hunter Biram
I totally get it. But I think it is worth it still, to know what you might be buying or what you might not be buying either way.

00;20;29;05 – 00;20;34;20
Riley Smith
Right. And, with that, Doctor Biram I appreciate it.

00;20;34;22 – 00;20;36;01
Dr. Hunter Biram
Thank you, thank you.

00;20;36;08 – 00;20;55;20
Riley Smith
And, listeners, growers, go get some crop insurance. If you don’t if you don’t already have it already, go talk to an agent. Do your own research. Don’t have to be a premium, but having some kind of insurance, it’s just like having car insurance. It’s always covering you on the back end.

00;20;55;23 – 00;20;56;13
Dr. Hunter Biram
Indeed.

00;20;56;15 – 00;21;20;11
Riley Smith
So anyway, well thank you guys. And y’all stay tuned for my market report. Thanks. All right guys back with the market report current or March 25 Corn. Excuse me. Current prices at $4.93 per bushel. Month ago, price was at $4.58 per bushel. That’s up $0.35 a year agos prices at $4.39 per bushel. That’s up $0.54. March 25 Rice 13.

00;21;20;13 – 00;21;44;10
Riley Smith
Current price is at $13.50 per cwt month agos prices is at $13.90 per cwt. That’s down $0.40. And a year ago, price was at $18.58 per 100 white. That’s down $5.08 March 25 Soybeans current price is at $10.57 per bushel. A month ago, those prices at $9.98 per bushel. That’s up $0.59 in the year ago prices at $12 a bushel.

00;21;44;12 – 00;22;12;01
Riley Smith
That’s up $1.43 per bushel, down $1.43 per bushel. July 25 Wheat current price is at $5.97 per bushel. Month agos price is at $5.61 per bushel. That’s up $0.36 in a year agos prices at $6.06 per bushel. That’s down $0.09. March 25 cotton current prices at $0.66 per pound. A month ago, price was at $0.69 per pound.

00;22;12;01 – 00;22;35;25
Riley Smith
That’s down $0.03. And a year ago price was at $0.88 per pound. That’s down $0.22 weekly U.S average peanuts current price is at $518 per ton. Month aogs price at $484 per ton. That’s up $34 year agos price is at $530 per ton. That’s down $12. That’s your weekly commodity futures this week. Your fertilizer prices this week. They haven’t changed at all.

00;22;35;27 – 00;23;11;11
Riley Smith
Expect those to change next week. And we’re also going to include AG lime again urea $492.50 per ton. Ammonium nitrate $465 per ton. Ammonium sulfites $472.50 per ton. DAP is at $780.50 per ton, triple super phosphates at $704.50 per ton. Potash is at $438.50 per ton pellet lime is at $225 a ton. And your diesel prices this week off road diesel at $2.68 per gallon, highway diesel is at $3.31 per gallon.

00;23;11;11 – 00;23;30;00
Riley Smith
And your Mississippi River level at Memphis, Tennessee this week. Current level is at 12.38ft, and a year ago was at 22.55ft. I want to thank you all again for joining in on another episode of Morning Coffee and AG Markets! We hope you enjoyed it. Enjoyed your morning coffee this morning and as you tuned in. We hope everyone has a great rest of their workweek.

00;23;30;06 – 00;23;33;17
Riley Smith
And until next time, we’ll catch you on the flip flop. Bye bye now!