Projected Prices for Crop Insurance Are Sharply Lower for 2014

Recently released prices that are used by the Risk Management Agency of USDA to establish crop insurance protection levels for major crops in Mississippi are sharply lower for the coming crop year. Projected prices for conventional rice production are 11.5% below last year at $13.90 per hundredweight. The projected price for upland cotton is $.78 per pound, down 3.7% from 2013. Projected prices for conventional corn production declined the most, dropping from $5.82 per bushel to $4.53 per bushel, a decline of 22.2%. Soybean projected prices declined 14.6%, to $11.14 per bushel.

The sales closing date for crop insurance in Mississippi for most row crops and rice is February 28.