date:Feb 20, 2013
es. We have suggested that prices would return to the pre-drought levels around $11. That is consistent with the recent projections by both the Congressional Budget Office and the USDA.
It now appears that the cash price implied by the projected price for crop revenue insurance, the average of November 2013 closing futures prices during February, will be well above $11. The average futures price during the first 11 days of the averaging period was $13.01 and the average for the month would be $