TREND-ADJUSTED (TA) APH YIELD OPTION - TA summary, TA APH examples, Guarantees vs Costs, Corn Map, and Soybean Map
LOWER CORN AND SOYBEAN RATES- RMA announcement, 2012 vs 2011Comparision, and Rate change maps
CROP INSURANCE AND FSA ACREAGE REPORTING DATES NOW MATCH- RMA announcement, Reporting date table
PREMIUM FOR SPRING CROPS NOW DUE AUGUST 15, INTEREST CHARGES START OCTOBER 1
GUIDE TO AGRICULTURAL RISK MANAGEMENT FOR 2012 - 4 page version See 2011 Guide too- 2 page version
BIOTECH YIELD ASSURANCE (BYA) DROPPED IN FAVOR OF TA APH YIELD OPTION- Monsanto announcement
BIOTECHNOLOGY YIELD ENDORESEMENT (BE) ENDS- RMA announcement
ENTERPRISE AND BASIC UNIT DISCOUNTS HAVE CHANGED- 2012 vs 2011 Comparision
SPECIALTY TYPE SOYBEANS CAN BE INSURED UNDER REVENUE PROTECTION
SPECIALTY TYPE SOYBEANS CAN BE INSURED SEPARATE FROM OTHER SOYBEANS
ENTERPRISE 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: |
Revenue Protection and use of Harvest Price. New for 2012
Insured separately 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-2012 PDF
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REVENUE PROTECTION:
(formerly CRC & RA) |
Fall Harvest Price limit now the same: 200% up, 100% down
Revenue Protection Plan Highlights PDF
Revenue Protection Plan Policies
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| ENTERPRISE UNITS: |
No acreage minimum and can aggregate acres from sections to meet 20/20 rule. New 2011.
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.
20/20 Rule Examples PDF
Enterprise (& Basic) Unit Estimated Discount 2012 PDF |
| 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: |
Both Revenue and Yield Protection prices based on CBOT. New 2011
"Combo" Price Elections (Defined and Historic) PDF
Official RMA documents/links below:
Commodity Exchange Price Provisions (CEPP) PDF.
Corn CEPP PDF
Soybeans CEPP PDF
Wheat CEPP PDF
CEPP for other crops
Official link to price discovery/tracking from RMA
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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. May increase to $200,000 for 2012!
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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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