SPECIALTY TYPE SOYBEANS CAN BE INSURED SEPARATED FROM OTHER SOYBEANS
BIOTECHNOLOGY ENDORSEMENT EXPANDED TO NEW STATES, VARIETIES, MORE IRRIGATION ALLOWED
ENTERPIRSE UNIT QUALIFICATION HARDER OR IMPOSSIBLE FOR SOME WITH NEW 20/20 RULE
COMPANION PRODUCTION PLAN HAIL ENDORSEMENT BECOMING MORE POPULAR AND CHEAPER
| SPECIALTY TYPE SOYBEANS: |
Specialty or food grade soybeans may now be insured separately (under an APH policy) from other/conventional soybeans. New in 2010.
Must be grown under contract.
Can be insured at contract price (not to exceed limits set by variety)
Can be insured at different level or unit structure too.
Specialty Type Soybeans PDF
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| BIOTECHNOLOGY ENDORSEMENT: |
Premium discount if over 75% acres in unit planted to qualifying hybirds.
Specific varieties from Monsanto, DuPont, and/or Syngenta
More states added. Irrigation allowed on more varieties. Search varieties here.
Biotechnology Endorsement PDF
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| CRC & RA: |
Fall Harvest Price limit now the same: 200% up, 100% down
CRC and RA Highlights PDF
CRC and RA Policies
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| ENTERPRISE UNITS: |
New 20/20 rule may make it harder (or impossible) for some to qualify. New in 2010.
Subsidy is higher, makes premium lower! Change was effective in 2009.
2010 Enterprise Unit Discount PDF
20/20 Rule Examples PDF
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| COMPANION PRODUCTION PLAN HAIL: |
CPP is a yield-based hail policy protecting up to 130% of your APH. Commonly carried in addition to CRC/RA and/or with Enterprise Units. Note: maximum price per bushel announced March 1st.
85% soybean CPP example PDF
80% corn CPP example PDF
Excel spreadsheet to create scenarios specific to your operation. Can be modified for any crop.
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| PRICE ELECTIONS: |
MPCI is set vs. CRC/RA based on CBOT.
Official link to revenue prices from RMA
CRC Price Formula PDF
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| REPORTING ACCURACY: |
Misreport by over 10%, loss payment will be reduced!
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| SOCIAL SECURITY/TAX ID NUMBERS: |
Report correctly by 3/15. Spouse’s also.
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| FSA FARM NUMBERS: |
Misreported farm numbers cause problems with USDA.
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| NEW LAND: |
Let us know about new land ASAP.
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FINAL PLANT DATES:
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Corn |
Soybeans |
Oats |
Spring Wheat |
| Minnesota |
May 31 |
June 10 |
May 15 |
May 15 |
| Iowa |
May 31 |
June 15 |
April 30 |
April 30 |
| Wisconsin |
May 31 |
June 15 |
May 15 |
varies by cty |
| Illinois |
June 5 |
June 15 |
April 30 |
varies by cty |
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| LATE PLANTING: |
Coverage is reduced 1% per day when planting is delayed.
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| PREVENTED PLANTING: |
Report a prevented planting loss within 72 hours.
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| FORAGE: |
Do not plow up any forage/hay/alfalfa before calling us
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| SILAGE APPRAISALS: |
Contact us any time you chop for silage
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| HAIL DAMAGE: |
Notify us of hail damage within 10 days.
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| LOSSES: |
Report earlier of harvest OR December 10th for corn/soybeans.
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| 1st CROP/2nd CROP: |
Caps the maximum loss at 135% on the same acres.
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| UNINSURED ACRES: |
All acres must be reported, even if they are uninsurable.
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| HIGH DOLLAR LOSSES: |
County/crop losses over $100,000 require 3 year audit.
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| ADMINISTRATION FEES: |
CAT = $300. Buyup = $30. Per crop, per county.
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| ORGANIC: |
Must be on the application. Additional documentation needed. |
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