This is Tanya Stimpson with this week’s crop insurance update brought to you by Sewell Agency. This week’s topic is PRF farmers meeting and RA insurance.
November 14th 7:30am at Grand River Inn we, at Sewell Agency along with David MeNeely CED of the Livingston county Office will be having an educational Farmers meeting on the new Pasture and Hay land Insurance that has come to Mo. David will be talking about the Sure and Disaster Programs and we will hit on the new Pasture and Hayland Drought coverage. Breakfast will start at 7:30 and the meeting will begin at 8am RSVP is not required but is really appreciated. You can call us at 1-800-281-4020.
With the price of the spring crops down everyone is talking about their Revenue insurance and how does it work. It does not matter what you get out of your beans you can be selling it now at the elevator for $5-$6 or you could have contracted them for $15. The insurance goes off of the Chicago Board of Trade and the harvest price came in at $9.22. Example is you were guaranteed $375. per acre your original yield guarantee is 28 bus per acre. You now take the $375 you are guaranteed and divide by the new price of $9.22 which gives you your new bushel guarantee of 40.6 bus per acre. Now if your yield falls below the 40.6 bus per acre you have a claim.
One final thing the wheat acreage reports are due to your agent by the end of November. Even if you have zero acres planted let us know.
Remember you can view all of the updates at Blog4020@blogspot.com or call The Sewell Agency at 800-281-4020 your connection to crop protection.