The 2012 harvest prices for crop insurance were officially announced by the RMA on November 1st. Harvest prices are: $7.50/bushel for corn and $15.39/bushel for soybeans. These prices apply to Revenue Protection policies without the Harvest Price Exclusion.
If you did not exclude the harvest price and haven't yet received an indemnity payment, you will receive $7.50/bushel for corn on your guaranteed bushels instead of the spring price, which was $5.68/bushel. If you have already received a partial indemnity payment on your bushels at the $5.68 spring price, you will now receive an additional payment of $1.82/bushel on your guaranteed bushels, to make up the difference.
If you have not yet received a payment on soybeans and you did not exclude the harvest price, then you will receive $15.39/bushel. If you already received a partial indemnity payment on your bushels at the $12.55/bushel soybean spring price, you will now receive an additional payment of $2.84/bushel on your guaranteed bushels, which is the difference.