Iowa State University's Ag Decision Maker website is a great resource to evaluate ARC-CO and PLC. As a reminder, PLC is  triggered if the Marketing Year Average Price is lower than the Effective Reference Price. The Effective Reference Price is $3.70 for corn and $8.40 for soybeans. ARC-CO is triggered [...]

Reminder You will need to elect PLC or ARC-CO by March 15, 2021 for the 2021 crop year. Farm Bill elections will be an annual election in 2021, 2022, and 2023. If you fail to make an election by March 15, you will default to the 2019 & 2020 election. [...]

ECO dollar per acre coverage will be determined by your individual APH. You can elect 95% coverage, which gives you a 9% coverage band. Or you could elect 90% coverage which gives you a 4% coverage band. Let's take a look at how the ECO dollars per acre coverage is [...]

Starting in 2021, a Beginning Farmer & Rancher (BFR) can use a Previous Producer's yield history. There are a few requirements to meet: The BFR must have been involved in the decision making of a farming operation. The BFR must have actively participated in the crops being planted. The Previous [...]

Written by: Kyle Meyer, CPA This newsletter is meant to give you a brief overview of how insurance proceeds are treated in the tax law and give you some strategies to avoid unnecessary taxes. Crop Insurance Proceeds from crop insurance, as a result of crop damage or revenue protection, are [...]

2020 Harvest Price Corn $3.99 Soybeans $10.55   Both corn and soybean harvest prices are higher than the Projected Price that was set last February.   2020 Projected Price  Corn $3.88 Soybeans $9.17   Most farmers carry Revenue Protection and are guaranteed the higher of the Projected Price (spring price) [...]