Table 3 FNP estimates by scenario, RP80...

Table 3

FNP estimates by scenario, RP80 + SCO vs RP85, state-level averages

		FNP difference = Alternative – Baseline
	Baseline FNP	Low yield correlation	High APH	Low APH	High price volatility	Low price volatility
Corn
Illinois	0.30	0.013	−0.02	0.04	−0.004	0.000
Indiana	0.31	0.008	−0.02	0.04	−0.006	0.001
Iowa	0.25	0.010	−0.02	0.03	−0.006	0.003
Kansas	0.45	0.003	−0.03	0.04	−0.003	−0.002
Kentucky	0.39	0.015	−0.03	0.04	−0.003	0.003
Michigan	0.36	0.002	−0.03	0.03	−0.004	0.006
Minnesota	0.31	0.005	−0.02	0.04	−0.005	0.005
Missouri	0.41	0.004	−0.03	0.04	−0.004	−0.002
Nebraska	0.39	0.005	−0.03	0.04	−0.003	0.005
North Carolina	0.41	0.002	−0.03	0.04	−0.003	0.001
North Dakota	0.44	0.001	−0.03	0.04	−0.003	0.000
Ohio	0.33	0.005	−0.03	0.04	−0.005	0.004
Pennsylvania	0.41	0.003	−0.03	0.05	−0.004	0.002
South Dakota	0.42	0.002	−0.03	0.04	−0.005	0.001
Tennessee	0.39	0.004	−0.03	0.03	−0.004	0.002
Texas	0.48	0.000	−0.04	0.04	−0.003	−0.003
Wisconsin	0.38	0.003	−0.03	0.05	−0.005	0.006
Soybeans
Arkansas	0.51	0.000	−0.03	0.03	−0.002	0.000
Illinois	0.34	0.007	−0.03	0.04	−0.003	−0.003
Indiana	0.36	0.004	−0.03	0.04	−0.004	0.001
Iowa	0.33	0.004	−0.03	0.04	−0.004	0.001
Kansas	0.50	0.000	−0.03	0.02	0.000	−0.003
Kentucky	0.44	0.000	−0.03	0.05	−0.003	−0.001
Louisiana	0.51	0.000	−0.02	0.03	−0.002	0.000
Michigan	0.44	0.000	−0.03	0.04	−0.003	0.001
Minnesota	0.40	0.001	−0.03	0.03	−0.003	0.002
Mississippi	0.49	0.000	−0.04	0.05	−0.002	−0.001
Missouri	0.47	0.000	−0.03	0.05	−0.002	0.000
Nebraska	0.42	0.001	−0.03	0.04	−0.003	0.001
North Dakota	0.48	0.000	−0.04	0.05	−0.004	−0.003
Ohio	0.40	0.000	−0.03	0.04	−0.004	0.001
South Dakota	0.45	0.000	−0.03	0.04	−0.003	−0.001
Tennessee	0.44	0.000	−0.03	0.05	−0.002	0.002
Wisconsin	0.46	0.000	−0.03	0.04	−0.002	0.000

		FNP difference = Alternative – Baseline
	Baseline FNP	Low yield correlation	High APH	Low APH	High price volatility	Low price volatility
Corn
Illinois	0.30	0.013	−0.02	0.04	−0.004	0.000
Indiana	0.31	0.008	−0.02	0.04	−0.006	0.001
Iowa	0.25	0.010	−0.02	0.03	−0.006	0.003
Kansas	0.45	0.003	−0.03	0.04	−0.003	−0.002
Kentucky	0.39	0.015	−0.03	0.04	−0.003	0.003
Michigan	0.36	0.002	−0.03	0.03	−0.004	0.006
Minnesota	0.31	0.005	−0.02	0.04	−0.005	0.005
Missouri	0.41	0.004	−0.03	0.04	−0.004	−0.002
Nebraska	0.39	0.005	−0.03	0.04	−0.003	0.005
North Carolina	0.41	0.002	−0.03	0.04	−0.003	0.001
North Dakota	0.44	0.001	−0.03	0.04	−0.003	0.000
Ohio	0.33	0.005	−0.03	0.04	−0.005	0.004
Pennsylvania	0.41	0.003	−0.03	0.05	−0.004	0.002
South Dakota	0.42	0.002	−0.03	0.04	−0.005	0.001
Tennessee	0.39	0.004	−0.03	0.03	−0.004	0.002
Texas	0.48	0.000	−0.04	0.04	−0.003	−0.003
Wisconsin	0.38	0.003	−0.03	0.05	−0.005	0.006
Soybeans
Arkansas	0.51	0.000	−0.03	0.03	−0.002	0.000
Illinois	0.34	0.007	−0.03	0.04	−0.003	−0.003
Indiana	0.36	0.004	−0.03	0.04	−0.004	0.001
Iowa	0.33	0.004	−0.03	0.04	−0.004	0.001
Kansas	0.50	0.000	−0.03	0.02	0.000	−0.003
Kentucky	0.44	0.000	−0.03	0.05	−0.003	−0.001
Louisiana	0.51	0.000	−0.02	0.03	−0.002	0.000
Michigan	0.44	0.000	−0.03	0.04	−0.003	0.001
Minnesota	0.40	0.001	−0.03	0.03	−0.003	0.002
Mississippi	0.49	0.000	−0.04	0.05	−0.002	−0.001
Missouri	0.47	0.000	−0.03	0.05	−0.002	0.000
Nebraska	0.42	0.001	−0.03	0.04	−0.003	0.001
North Dakota	0.48	0.000	−0.04	0.05	−0.004	−0.003
Ohio	0.40	0.000	−0.03	0.04	−0.004	0.001
South Dakota	0.45	0.000	−0.03	0.04	−0.003	−0.001
Tennessee	0.44	0.000	−0.03	0.05	−0.002	0.002
Wisconsin	0.46	0.000	−0.03	0.04	−0.002	0.000

Note(s): FNP estimates are the frequency with which the RP85 benchmark indemnities exceed alternative coverage indemnities

Source(s): Table created by authors

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