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 [...]

What is PRF? PRF stands for Pasture, Rangeland, and Forage. This product is designed to compensate a farmer for reduced haying/grazing from a lack of normal rainfall.   How does the coverage work? Claims are based off precipitation totals in a gridded area. Below you can see the average rainfall for Ackley, IA by interval. [...]

2023 Margin Protection Prices Corn $6.11 Soybeans $13.56   Margin Protection can be purchased through September 30th.

Have you sold grain for 2023? Have you purchased majority of inputs for 2023?   Answering these questions will help you determine if Margin Protection makes sense for you. Review the 4 scenarios below:   SOLD GRAIN & PURCHASED INPUTS You have captured your margin You need bushels for delivery You would be fine to [...]

What is your risk heading into next season? Price Yield Input Costs Margin Protection can help you manage these risks. Price: Margin Protection allows you to lock in a price during August/September prior to the crop year, instead of waiting until federal crop insurance price discovery in February. In the fall, you are beginning to [...]