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Inputs:
Crop - Item which has been planted. Valid crops include Corn, Soybeans, Wheat.
Coverage Level - The percentage level of coverage
that you desire. Valid coverages include 50, 55, 60, 65, 70, 75, and 80%.
Spring Price - Price calculated during February based on Chicago Board of Trade daily closing price.
Harvest Price - Price calculated during October or November depending upon the plan based on the Chicago Board of Trade daily closing price.
Acres - The number of acres planted in a given crop.
Approved Yield - The four-year history of actual production. This may be found on insurance documentation.
Actual Production - Total bushels actually produced.
Interest / Share - Your interest in the farm.
Outputs:
Guarantee - Guaranteed bushels per acre.
Actual Production Yield - Actual production per acre.
Actual Production Loss - Guaranteed bushels per acre minus the actual production yield.
Minimum Guarantee - Minimum revenue guarantee based on the Spring price of the crop.
Final Guarantee - Final revenue guarantee based on the higher of the Spring price or Harvest price of the crop.
Crop Value - Value of the crop based on the MCPI loss adjustment process.
Revenue Loss - Final guarantee minus the crop value.
Claim - Revenue loss multiplied by the number of acres.
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