NEWS
Kub's Den
Elaine Kub Contributing Analyst
Tue Oct 30, 2012 09:08 AM CDT

Even if the heart of U.S. grain futures trade had developed 800 miles to the east of its present location (in New York instead of Chicago), and if the futures markets were therefore closed for the first two stormy days of this week, we still wouldn't be able to calculate the fully official insurance payments due to row-crop farmers after the drought of 2012. That's because Revenue Protection insurance products and certain other crop insurance products base their ultimate losses on either a projected base price -- which is the average of the December futures contract closes during the month ...

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