Table 4 FPP estimates by scenario, RP80...

Table 4

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

		FPP difference = Alternative – Baseline
	Baseline FPP	Low yield correlation	High APH	Low APH	High price volatility	Low price volatility
Corn
Illinois	0.20	0.024	0.01	−0.01	0.06	−0.11
Indiana	0.19	0.021	0.01	−0.01	0.06	−0.11
Iowa	0.21	0.024	0.01	−0.01	0.05	−0.10
Kansas	0.14	0.045	0.02	−0.01	0.05	−0.08
Kentucky	0.17	0.035	0.01	−0.01	0.05	−0.09
Michigan	0.16	0.031	0.01	−0.01	0.04	−0.09
Minnesota	0.18	0.025	0.01	−0.01	0.05	−0.09
Missouri	0.16	0.043	0.02	−0.01	0.05	−0.09
Nebraska	0.17	0.014	0.01	−0.01	0.05	−0.10
North Carolina	0.14	0.055	0.02	−0.01	0.04	−0.06
North Dakota	0.13	0.047	0.02	−0.01	0.04	−0.06
Ohio	0.18	0.028	0.01	−0.01	0.05	−0.10
Pennsylvania	0.15	0.041	0.02	−0.01	0.05	−0.08
South Dakota	0.15	0.036	0.02	−0.01	0.05	−0.09
Tennessee	0.16	0.035	0.02	−0.01	0.05	−0.09
Texas	0.11	0.062	0.02	−0.01	0.03	−0.05
Wisconsin	0.16	0.022	0.01	−0.05	0.04	−0.09
Soybeans
Arkansas	0.08	0.038	0.01	−0.01	0.03	−0.05
Illinois	0.15	0.024	0.00	−0.01	0.05	−0.09
Indiana	0.14	0.024	0.00	−0.01	0.04	−0.09
Iowa	0.14	0.030	0.00	−0.01	0.04	−0.09
Kansas	0.09	0.049	0.01	0.00	0.03	−0.05
Kentucky	0.11	0.040	0.01	−0.01	0.03	−0.06
Louisiana	0.07	0.056	0.00	−0.01	0.02	−0.03
Michigan	0.11	0.038	0.01	−0.01	0.03	−0.06
Minnesota	0.11	0.040	0.01	−0.01	0.04	−0.06
Mississippi	0.08	0.050	0.01	−0.02	0.02	−0.05
Missouri	0.10	0.041	0.01	−0.01	0.03	−0.06
Nebraska	0.12	0.025	0.00	−0.01	0.04	−0.08
North Dakota	0.09	0.051	0.01	−0.02	0.03	−0.04
Ohio	0.12	0.034	0.00	−0.01	0.04	−0.07
South Dakota	0.10	0.044	0.01	−0.01	0.03	−0.06
Tennessee	0.11	0.045	0.01	−0.01	0.03	−0.06
Wisconsin	0.10	0.045	0.01	−0.02	0.03	−0.06

		FPP difference = Alternative – Baseline
	Baseline FPP	Low yield correlation	High APH	Low APH	High price volatility	Low price volatility
Corn
Illinois	0.20	0.024	0.01	−0.01	0.06	−0.11
Indiana	0.19	0.021	0.01	−0.01	0.06	−0.11
Iowa	0.21	0.024	0.01	−0.01	0.05	−0.10
Kansas	0.14	0.045	0.02	−0.01	0.05	−0.08
Kentucky	0.17	0.035	0.01	−0.01	0.05	−0.09
Michigan	0.16	0.031	0.01	−0.01	0.04	−0.09
Minnesota	0.18	0.025	0.01	−0.01	0.05	−0.09
Missouri	0.16	0.043	0.02	−0.01	0.05	−0.09
Nebraska	0.17	0.014	0.01	−0.01	0.05	−0.10
North Carolina	0.14	0.055	0.02	−0.01	0.04	−0.06
North Dakota	0.13	0.047	0.02	−0.01	0.04	−0.06
Ohio	0.18	0.028	0.01	−0.01	0.05	−0.10
Pennsylvania	0.15	0.041	0.02	−0.01	0.05	−0.08
South Dakota	0.15	0.036	0.02	−0.01	0.05	−0.09
Tennessee	0.16	0.035	0.02	−0.01	0.05	−0.09
Texas	0.11	0.062	0.02	−0.01	0.03	−0.05
Wisconsin	0.16	0.022	0.01	−0.05	0.04	−0.09
Soybeans
Arkansas	0.08	0.038	0.01	−0.01	0.03	−0.05
Illinois	0.15	0.024	0.00	−0.01	0.05	−0.09
Indiana	0.14	0.024	0.00	−0.01	0.04	−0.09
Iowa	0.14	0.030	0.00	−0.01	0.04	−0.09
Kansas	0.09	0.049	0.01	0.00	0.03	−0.05
Kentucky	0.11	0.040	0.01	−0.01	0.03	−0.06
Louisiana	0.07	0.056	0.00	−0.01	0.02	−0.03
Michigan	0.11	0.038	0.01	−0.01	0.03	−0.06
Minnesota	0.11	0.040	0.01	−0.01	0.04	−0.06
Mississippi	0.08	0.050	0.01	−0.02	0.02	−0.05
Missouri	0.10	0.041	0.01	−0.01	0.03	−0.06
Nebraska	0.12	0.025	0.00	−0.01	0.04	−0.08
North Dakota	0.09	0.051	0.01	−0.02	0.03	−0.04
Ohio	0.12	0.034	0.00	−0.01	0.04	−0.07
South Dakota	0.10	0.044	0.01	−0.01	0.03	−0.06
Tennessee	0.11	0.045	0.01	−0.01	0.03	−0.06
Wisconsin	0.10	0.045	0.01	−0.02	0.03	−0.06

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

Source(s): Table created by authors

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