This is Tanya Stimpson with this weeks crop insurance updated brought to you by the Sewell Agency in Chillicothe and ASI Insurance.
Are you ready for the 2010 Crop year for wheat? It is time to inform your insurance agent and sign up for 2010 Wheat coverage. The deadline to sign up is Wednesday, September 30th.
The RA Wheat price Guarantee came in at $5.42 off the Kansas City Board of Trade, and the CRC Wheat price Guarantee came in at $5.29 off the Chicago Board of Trade. Both of these products are virtually the same except where the price is established off of. These 2 products have yield and price protection. If you would have a loss before harvest, than they would pay you off the base price established. Then at harvest time they set the harvest price from the Board of trade and if the price is higher than base then they will pay you the higher of the 2 on any yield loss. If the harvest price is lower than the base price then, you could get paid for price loss depending on your harvested yield and your guarantee. You need to check with your agent on which product would be best for you.
Again Deadline to sign up for wheat coverage or to change any coverage’s you currently have is Wednesday Sept 30th.
If you have any questions or if we can help you with your crop insurance needs call 800 281 4020 your connection to crop protection.