Hi! This is Tanya Stimpson with this week’s crop insurance update. This week’s topic is Biotech Endorsement and 2009 RA pricing and brought to you by the Sewell Agency in Chillicothe.
The new Biotech Endorsement for MO is allowing a discount on your corn premium if you use the Stated Hybrid seed. You have to plant at least 75% of your unit to this seed and replant has to be Hybrid seed. There will be spot checks on random policies for the proof to receive the discount. And this endorsement is not available for Ground that is located in the high risk areas.
February is here and corn and bean prices are on the watch. As of Friday morning RA corn was $.4.13 and Soybean were $9.19. Prices will run until the end of February and if you are watching the markets they have been very unsteady, so no one knows where they will land. Just a reminder on RA What ever the average price is at the end of February will be the price you are guaranteed on your insurance policy all year. Then in the fall there will be a harvest price set and if it is higher then anyone that had a loss during the year will receive the difference between the two prices and if it is lower then everyone has a chance of receiving the difference depending on your guarantee. Visit with your agent to get the full explanation or give me a call.
View this update and others online at blog4020.blogspot.com. If we can help you with your crop insurance needs phone 800 281 4020 your connection to crop protection.
Friday, February 13, 2009
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