Multi-Peril Crop Insurance

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 Insurance

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.

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ARC/PLC Timeline


Base Acre Reallocation and Yield Updates

•  Deadline: February 27th, 2015
• Owners have a one-time opportunity to reallocate the farm's base acres or update yields. 

ARC/PLC Election

• Deadline: March 31st, 2015
• Producers make  election which will remain in effect for the 2014 - 2018 crop years, of the following: 

1. PLC or ARC County on a covered commodity-by-commodity basis; or
2. ARC Individual for all covered commodities on the farm. 

ARC/PLC Enrollment

• Time frame: Mid-April 2015 to Summer 2015
• Producers sign contracts to participate in ARC/PLC for 2014 and 2015 crop years. 

 

Projected (Spring) Price/Harvest (Fall) Price: 

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.



2014 Projected prices:                   2014 Harvest prices:
Corn: $4.62                                          $3.49
Soybeans: $11.36                                $9.65


2013 Projected prices:                   2013 Harvest prices:
Corn: $5.65                                         $4.39
Soybeans: $12.87                               $12.87


2012 Projected prices:                   2012 Harvest prices:
Corn: $5.68                                         $7.50
Soybeans: $12.55                               $15.39


http://www3.rma.usda.gov/apps/pricediscoveryweb/DailyPrices.aspx
http://prodwebnlb.rma.usda.gov/apps/PriceDiscovery/GetPrices/YourPrice


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In the News:

Cold January Forecast 
by Laura Edwards January 5th, 2015

Base Reallocation, Yield Updates, Price Loss Coverage (PLC) & Agricultural Risk Coverage (ARC)
USDA Farm Service Agency (FSA)

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. 

Agricultural Economics Publications
2014
(Purdue University) - Purdue Agricultural Economics Report (quarterly) and selected recent publications.