MPCI in all of its forms provides protection against crop yield loss by allowing policy holders to insure a chosen percentage of their Actual Production History (APH). Policies protect a variety of crops against all natural perils.
Crop-Hail products insure against the perils of hail, fire, lightning and transit. These products allow the grower added flexibility when it comes to protecting one's investment. Policies include various coverage levels and deductibles. Within the crop insurance field it has long been assumed that your MPCI covers your expenses and your Crop-Hail covers your profits.
Good Record Keeping Reminder:
Growers are expected to maintain threeyears of production records plus the current year. Good record keeping practices include the use of soft and hard production records. Verifiable by a third party, hard production records provide proof of the final disposition of the crop and documents the total production. A support to hard records, soft production records are the means by which a grower separates production by units to indicate the amount of production from each unit. Hard records can include settlement sheets, appraisal records, certified scale tickets, and bin measurements* (performed by an authorized person), while soft records include printed and dated combine monitor records, load records (truck/grain cart log), and storage structure markings (in permanent ink indicating unit, field ID, date, and initials.)
* Planning on commingling the 2013 and 2014 crop? Keep your production years separate requesting a bin measurement be made by one of our authorized adjusters.
The 2014 projected spring prices were set in the month of February with December 2014 corn futures and November 2014 soybean futures. The corn projected price is set at $4.62 and the soybeans projected price is $11.36. For those on a revenue protection plan, the 2014 harvest prices were determined the month of October, again, using December 2014 corn futures and November 2014 soybean futures. The harvest price for corn and soybeans are $3.49 and $9.65, respectively.
New Farm Bill Highlights by Dennis Reyman, AFM, ARA (ASFMRA) - Provides a brief summary of the PLC, ARC-CO, and ARC-IC plans.
Weekly Fertilizer Review by Bryce Knorr, Farm Futures, August 4, 2014 Fertilizer prices firm despite crop collapse. United States Drought Monitor The U.S. Drought Monitor is jointly produced by the National Drought Mitigation Center at the University of Nebraska-Lincoln, the United States Department of Agriculture, and the National Oceanic and Atmospheric Administration. Map courtesy of NDMC-UNL.A weekly map of drought conditions.
Web Soil Survey (WSS) by USDA Natural Resources Conservation Service (NRCS) (USDA) - Web Soil Survey (WSS) provides soil data and information produced by the National Cooperative Soil Survey.