The forecasted marketing year average price is provided as a guideline for what a reasonable price expectation may be for the upcoming marketing year and is to be used with the Cash Equivalent Statement to calculate the tax credit on a share crop lease.
Applicants shall use the prices corresponding to the nearest date prior to the date the owner signed the lease.
The price shall be used for all three tax credit years in the application at the time of submission.
These forecasted prices should not affect the lease arrangement in any way or actual marketing decisions and should only serve as a means to calculate the tax credit. These forecasted prices, which are based on deferred Chicago Mercantile Exchange (CME) Group futures prices adjusted for Nebraska average basis and monthly sales patterns, should not be construed as marketing advice or recommendations by NextGen, the Board of Directors, or the Nebraska Department of Agriculture.
Instructions on using the price to complete the Cash Equivalent Statement may be found on page two of the Cash Equivalent Statement located on the Applications and Forms page.