BULLETIN NO.:   MGR-96-071
     
TO:        All Reinsured Companies
           All Risk Management Field Offices
           FSA Headquarters, Program Delivery and Field Operations
                 
FROM:      Kenneth D. Ackerman
           Acting Administrator
     
SUBJECT:   1997 Projected Market Prices for Corn, Grain Sorghum, 
           Soybeans and Corn
           Silage
     
     
The Risk Management Agency (RMA) today announced the projected market
prices, which are the maximum price elections for 1997 crops:  corn -
$2.45 per bushel; grain sorghum - $2.30 per bushel; soybeans - $6.15 per
bushel; and corn silage - $16.70 per ton.  These price elections are
available to all producers who insure their 1997 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.  When the maximum price election are higher
than the preliminary price elections, producers originally electing the
preliminary price may be impacted.  When the market price is higher than
the established price, the level of subsidy may change.  Exclusion of
hail and fire provisions also may be affected. 
     
The prices for catastrophic coverage are:  corn - $1.47 per bushel;
grain sorghum- $1.38 per bushel; soybeans - $3.69 per bushel; and corn
silage - $10.02 per ton.