The scale for the vertical axis of the figures generally runs from a negative 25% to a positive 125%, since, for the majority of the programs, the net amount priced varies between these two levels. However, a few programs have more extreme values of the percentage priced. Note that the amount priced is a measure of within-crop year price risk, as the higher the proportion of a crop priced, the lower the sensitivity of the value of the farmer’s position to crop price changes. When 100% of the crop is priced there is no price sensitivity, which.
