Every year you report your production to your crop insurance agent. This yield history creates your approved APH yield used to determine your crop insurance coverage. There are a few factors that can modify your actual yields to increase your approved APH yield. What factors can modify approved APH yields? Yield Floor - This coverage [...]
Some farmers purchased Margin Protection last September as crop prices were above $5 for corn with a concern of increasing input costs. As time has passed through fall and winter, crop prices have continued to rise. Now we are looking at purchasing our crop insurance for the 2022 season and ECO is one of those [...]
If you purchased Margin Protection last September for the 2022 crop season, you may be wondering how the inputs are tracking. Margin Protection includes fixed costs and variable costs to determine the Expected Margin by county. The variable costs will impact a potential claim payment. The projected variable costs were determined in Aug/Sept of 2021. [...]
Several insurance companies are moving away from accepting Iowa Workforce Development form 14-0061 to exclude sole-proprietors and LLCs without employees from workers compensation audits. Iowa House File 259, passed in April 2015, mandated a new reporting website for sole-proprietors and LLCs without employees to file their workers compensation exemption. That website is now fully operational. [...]
2021 Crop Insurance Prices calculated through the month of October. Corn - Harvest Price $5.37 - Spring Price $4.58 Below is a chart showing the 2021 Corn Price against the Average of 2012-2021. You can see the 2021 went against the trend. Other notable years were 2012 and 2020 that went against trend and [...]
Here are a few reminders to getting Climate ready for harvest. Update software: Both Fieldview Apps and Yield Monitor software. CAB App version 14.7.1 Confirm the Drive is connected to iPad on the bottom corner of the Cab App Home screen. If not, go to settings and devices to connect. Select your harvest equipment. Make [...]
For crop insurance, shrink corn to 15% and soybeans to 13%. Example: 1,000 wet bushels of corn @ 20% moisture Look up the 20% moisture factor (.9400) Take 1,000 bushels x .9400 shrink factor = 940 dry bushels (15%) Here are the crop insurance shrink factor tables for corn and soybeans. Corn Shrink [...]
Below are a few crop insurance reminders for the upcoming 2021 harvest season. Appraisals Chopping Silage: Need to get an appraisal if you have loss. Need to get an appraisal if you chop more than 50% of the unit. It is beneficial to get an appraisal in any situation. Grain Bin Measurements: Need to have [...]
Price is one of the biggest contributing factors to a Margin Protection claim payment. Right now the initial price is tracking around $5.09 for corn. Below are a few examples that illustrates Margin Protection's sensitivity to declining prices at harvest. Let's take a look at a few 95% Margin Protection price scenarios when all [...]
Enhanced Coverage Option vs. Margin Protection. ECO and MP are both great tools to use as top end crop insurance coverage. Although, you can't elect both ECO and MP coverage. Below is a list of similarities and differences between the products that can help you make a decision. Here are a few similarities between [...]
Get Social