BULLETIN NO.:  MGR-95-053

TO:       All Reinsured Companies
          All Risk Management Field Offices
          FSA Headquarters, Program Delivery and Field Operations

FROM:     Kenneth D. Ackerman
          Deputy Administrator

SUBJECT:  1996 Projected Market Price Elections for Corn, Grain Sorghum, 
          Soybeans, and Corn Silage


The Federal Crop Insurance Corporation today announced the projected market 
price elections for 1996 crops:  

  Corn              $ 2.65 per bushel 
  Grain Sorghum     $ 2.50 per bushel 
  Soybeans          $ 6.75 per bushel 
  Corn Silage       $17.90 per ton  

These price elections are available to all producers of corn, grain sorghum, 
soybeans, and corn silage who insure their 1996 crop(s) at levels above 
catastrophic coverage.  Price election choices must be made on or before the 
sales closing date for the crop in a county.

The preliminary price elections were $2.45 per bushel for corn; $2.30 per 
bushel for grain sorghum; $5.80 per bushel for soybeans; and $16.70 per ton 
for corn silage.  Because the projected market prices are all higher than the 
preliminary price elections, producers originally electing the preliminary 
price will be impacted.  The market price election is used to determine 
subsidy levels.  When the market price is set at a level higher than the 
established price, the level of subsidy changes.  Producer fees and exclusion 
of hail and fire provisions also may be affected.

The prices for catastrophic coverage are:  

  Corn              $ 1.59 per bushel 
  Grain Sorghum     $ 1.50 per bushel 
  Soybeans          $ 4.05 per bushel 
  Corn silage       $10.74 per ton