Current futures prices suggest harvest-time 2013 prices of $5.80 per bushel for corn and $12.40 per bushel for soybeans.
Given these prices, 2013 farm incomes likely would be above average.
Worst case incomes depend on levels of projected prices used to set crop insurance guarantees. Likely projected prices will provide significant downside revenue protection.
To quantify income projections, farm incomes for a 1,200 Illinois grain farm are simulated and presented.
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