PRF (Pasture, Rangeland, Forage) is a crop insurance product used to protect against less than average rainfall.   Let's take a look at how PRF has performed so far in 2023.  Below is a chart showing the average rainfall for each PRF interval against the actual rainfall in 2023. This data is specific to a [...]

Many farmers were attracted to Margin Protection in 2023 due to the opportunity to lock in high prices, $6.11 on corn and $13.56 on soybeans. With reduced commodity markets in 2024, farmers may feel that Margin Protection lost it's value. But take and look and see. Higher expected county yields, lower input costs, and lower [...]

Corn Butler 212.40 Franklin 208.10 Grundy 233.00 Hardin 212.60 Marshall 225.6   Soybeans Butler 58.6 Franklin 59.6 Grundy 66.7 Hardin 61.3 Marshall 64.9   If you would like to compare to 2023 Expected County Yields.

Here are the 2024 Margin Protection Prices:   Corn $5.09 Soybeans $12.95   Margin Protection can be purchased through September 30th.  

Here is an update on 2023 Margin Protection for corn before we head into harvest. Current Corn Overview  Projected Price $6.11 Variable Input Costs Projected vs Harvest The Harvest Price for interest and corn will be calculated in October. County yields will be determined next spring.   Since current price level is well below the [...]

Here are a few crop insurance reminders: Revenue Protection Claims Corn Prices have declined from the $5.91 Projected Price. On September 1, December corn futures is at $4.81, $1.10 lower. If prices continue at this level, the probability of a Revenue Protection claim is high. Example: 220 APH x $5.91 Projected Price x 85% Coverage [...]

Precision reporting is the best way to keep crop insurance records. You only need 3 items! 1. Planting Map 2. Harvest Map 3. Calibration Report Planting For acreage reporting, you get to use your actual planted acres, not FSA acres. The acres do not have to match! In many cases, FSA acres are higher than [...]

Worried about combine fire this fall? Your Revenue Protection Policy does NOT provide coverage for combine fire. You do have fire coverage on your Crop Hail Policy. What if you don't have a Crop Hail Policy? You can purchase a Grain Fire Policy before harvest to cover your crop. The Grain Fire Policy rate is [...]

Yield Guarantee Crop insurance is a great risk management tool to use to guarantee bushels. Price Guarantee Price guarantee works similar to a put option, you are selling a floor price in February. If the harvest price is lower, you may collect an insurance indemnity. If the harvest price is higher, you are guaranteed the [...]

Here are the crop insurance prices for the 2022 season. Corn Harvest Price $6.86 Spring Price $5.90 Soybeans Harvest Price $13.81 Spring Price $14.33   Many farmers carry Revenue Protection, which guarantees the higher of the spring or fall price. This year the harvest price for corn is higher than the spring price. This allows [...]