(NAFB) – The USDA’s Risk Management Agency has set the sorghum crop insurance price election for reinsurance year 2022 at 99.6 percent of the price of corn, compared to 96 percent for 2021.

The price election means that farmers can insure grain sorghum at a price almost identical to that of corn.

“This price election gives sorghum producers their largest amount of price protection relative to corn in the history of the federal crop insurance program,” says National Sorghum Producers CEO Tim Lust. “We are pleased that farmers will have the protection they need to meet the demand currently driving historically strong prices in the marketplace.”

The sorghum crop insurance price election formula is based on a 10-year rolling average of actual sorghum bids at elevators across the U.S. A change to the formula in the early 2000s added $98 million in value to U.S. sorghum producers through increased crop insurance coverage.