Multi-Peril Crop InsuranceMPCI 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.
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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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Closed for MLK Day
The Buck Agency office will be closed Monday, January 17th on honor of Martin Luther King Jr. Day. Regular office hour resume the following Tuesday.
Wrapping up the 2021 harvest?
September and October's pleasant weather has the 2021 harvest season well underway for most farmers. With soybean combining wrapping up and corn combining in progress, please take note of the following reminders:
3. Buck Agency is ready when you are! Stop by the office to report your production as soon as you have compiled your harvest records.
Enjoy the nice harvesting weather and have a safe harvest season!
- Keep any eye out for losses! Look to your Schedule of Insurance to find the guaranteed number of bushels on each field/section. Losses need to be reported within 72 hours of discovery.
- Harvest Prices, in discovery the month of October, have been finalized with corn set at $5.37 and soybeans at $12.30.
3. Buck Agency is ready when you are! Stop by the office to report your production as soon as you have compiled your harvest records.
Enjoy the nice harvesting weather and have a safe harvest season!
Comingling Grain? Request a Bin Measurement!
When commingling grain from previous years and the current years harvest, request a bin measurement to provide the necessary paperwork to support your production. Remember that good record keeping prevents hassle if you ever get reviewed.
2021 Harvest Prices Released
The Commodity Exchange Price Provisions Harvest Price, set in the month of October, effects both the Revenue Protection (RP) and the Revenue Protection with Harvest Price Exclusion (RPHPE) plan of insurance.
- Revenue Protection Plan: Policyholders with RP plans of insurance are electing the option to follow market trends and choose the higher of the spring or fall prices with which to base their insurance dollar guarantees on. A price increase in the fall will result in a higher guarantee, but will not change your bushel guarantee.
- Revenue Protection with Harvest Price Exclusion:
By electing the RPHPE plan, policyholders are choosing to not participate in the fall market trends, and therefore, will have a guarantee based on the Projected Price set in the spring. The main consideration to keep in mind when electing RPHPE is that your bushel guarantee will be affected if the Harvest Prices is set higher than the Projected price since the Harvest Price is still used in determining your Harvest Value.
- Revenue Protection Plan: Policyholders with RP plans of insurance are electing the option to follow market trends and choose the higher of the spring or fall prices with which to base their insurance dollar guarantees on. A price increase in the fall will result in a higher guarantee, but will not change your bushel guarantee.
- Revenue Protection with Harvest Price Exclusion:
By electing the RPHPE plan, policyholders are choosing to not participate in the fall market trends, and therefore, will have a guarantee based on the Projected Price set in the spring. The main consideration to keep in mind when electing RPHPE is that your bushel guarantee will be affected if the Harvest Prices is set higher than the Projected price since the Harvest Price is still used in determining your Harvest Value.
Projected (Spring/Base) PriceEstablished: February 1st - 28th
Based on: - Corn: CBOT December Contract - Soybeans: CBOT November Contract |
Harvest (Fall) PriceEstablished: October 1st - 31st
Based on: - Corn: CBOT December Contract - Soybeans: CBOT November Contract |
In the News:
Valuing Drought-Stressed Corn Silage
August 16, 2021 (https://extension.sdstate.edu/)
Valuing corn silage correctly can be challenging under normal conditions because of variations in dry matter content and nutrient composition. Drought conditions magnify those challenges …
Will Grasshoppers Be an Issue for Winter Wheat Emergence in 2021?
August 12, 2021 (https://extension.sdstate.edu/)
Grasshoppers were an issue in some areas of South Dakota during 2020 and continue to be an issue for several parts of the state in 2021.
Drought
August 11, 2021 (https://extension.sdstate.edu/)
Weathering drought conditions takes awareness, preparation and proactive management. SDSU Extension helps farms, families and communities stay ahead of drought impacts though timely climate updates, business insights and the latest research-tested management tips for farms, ranches and properties of all sizes.
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
2016
(Purdue University) - Purdue Agricultural Economics Report (quarterly) and selected recent publications.
August 16, 2021 (https://extension.sdstate.edu/)
Valuing corn silage correctly can be challenging under normal conditions because of variations in dry matter content and nutrient composition. Drought conditions magnify those challenges …
Will Grasshoppers Be an Issue for Winter Wheat Emergence in 2021?
August 12, 2021 (https://extension.sdstate.edu/)
Grasshoppers were an issue in some areas of South Dakota during 2020 and continue to be an issue for several parts of the state in 2021.
Drought
August 11, 2021 (https://extension.sdstate.edu/)
Weathering drought conditions takes awareness, preparation and proactive management. SDSU Extension helps farms, families and communities stay ahead of drought impacts though timely climate updates, business insights and the latest research-tested management tips for farms, ranches and properties of all sizes.
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
2016
(Purdue University) - Purdue Agricultural Economics Report (quarterly) and selected recent publications.