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
Tuesday, December 30, 2008
Biotech Endorsement for Crop Insurance
Hello, this is Lonnie Sewell with this week’s crop insurance update, brought to you by the Sewell Agency in Chillicothe.
Well, here we are beginning a new year and I think it’s a good time to talk about new changes in crop insurance.
The biggest change this year for corn is the B.E. or Biotech Endorsement. This is an agreement between the grower and the government saying if the grower will use the new biotechnology seed, the government will allow a considerable discount in your crop insurance premium. This sounds great and it is. You don’t have to use it on all your acres, but the insurance companies are required to test a high percentage of the acres with this discount. The grower must keep good records to know for sure which fields are and which aren’t biotech seed. You will get to choose the fields they test, but we need to be sure because if the test fails, not only the discounted fields lose their coverage - you lose all corn coverage.
Before you take advantage of this discount, make sure your seed qualifies and you are prepared to keep track of it.
For more information, call the Sewell Agency at 660-646-4020.
Your Connection to Crop Protection
Well, here we are beginning a new year and I think it’s a good time to talk about new changes in crop insurance.
The biggest change this year for corn is the B.E. or Biotech Endorsement. This is an agreement between the grower and the government saying if the grower will use the new biotechnology seed, the government will allow a considerable discount in your crop insurance premium. This sounds great and it is. You don’t have to use it on all your acres, but the insurance companies are required to test a high percentage of the acres with this discount. The grower must keep good records to know for sure which fields are and which aren’t biotech seed. You will get to choose the fields they test, but we need to be sure because if the test fails, not only the discounted fields lose their coverage - you lose all corn coverage.
Before you take advantage of this discount, make sure your seed qualifies and you are prepared to keep track of it.
For more information, call the Sewell Agency at 660-646-4020.
Your Connection to Crop Protection
Monday, December 22, 2008
Happy Holidays from the Sewell Agency
Hello, this is Lonnie Sewell with your Holiday Crop Insurance update, brought to you by the Sewell Agency in Chillicothe.
I think we all will remember 2008 and its roller coaster ride of challenges and emotions. Starting out with record high crop prices to replanting, flooding and unprecedented rain. Then, to top it all off, drastically lower Fall prices. I think we are all ready to welcome in a new year.
I hope financially you all had a good year, either by crop sales or crop insurance loss payments.
We at the Sewell Agency had four times the amount of high dollar loss payments as ever before. Thank goodness for Revenue insurance! Whatever the reason, I hope you had a rewarding 2008.
From Lonnie, Earlene, Tanya and Laura, the Sewell Agency hopes we informed and educated you about your crop insurance coverage, and we all wish you a Merry Christmas and a Happy New Year!
I think we all will remember 2008 and its roller coaster ride of challenges and emotions. Starting out with record high crop prices to replanting, flooding and unprecedented rain. Then, to top it all off, drastically lower Fall prices. I think we are all ready to welcome in a new year.
I hope financially you all had a good year, either by crop sales or crop insurance loss payments.
We at the Sewell Agency had four times the amount of high dollar loss payments as ever before. Thank goodness for Revenue insurance! Whatever the reason, I hope you had a rewarding 2008.
From Lonnie, Earlene, Tanya and Laura, the Sewell Agency hopes we informed and educated you about your crop insurance coverage, and we all wish you a Merry Christmas and a Happy New Year!
Tuesday, November 11, 2008
Pasture & Hayland Program Meeting
A farm informational meeting will be held Friday morning at the Grand River Inn in Chillicothe.
David Mannely of the Livingston County FSA will speak on the new Farm Programs for 2009.
Then, David Brown from Pro Ag Crop Insurance will speak on the new Rainfall Insurance for hay and pasture.
This meeting is open to the public and will start at 7:30 a.m. with a complimentary buffet style breakfast, and should be over before 10:00 am. The Sewell Agency is sponsoring this meeting, along with Chillicothe MFA Exchange and rafterconline.net.
RSVP not required, but to insure plenty of food it would be appreciated. To RSVP, phone the Sewell Agency at 646-4020 or MFA at 646-5000.
That’s this Friday 7:30 am at Grand River Inn in Chillicothe.
David Mannely of the Livingston County FSA will speak on the new Farm Programs for 2009.
Then, David Brown from Pro Ag Crop Insurance will speak on the new Rainfall Insurance for hay and pasture.
This meeting is open to the public and will start at 7:30 a.m. with a complimentary buffet style breakfast, and should be over before 10:00 am. The Sewell Agency is sponsoring this meeting, along with Chillicothe MFA Exchange and rafterconline.net.
RSVP not required, but to insure plenty of food it would be appreciated. To RSVP, phone the Sewell Agency at 646-4020 or MFA at 646-5000.
That’s this Friday 7:30 am at Grand River Inn in Chillicothe.
Friday, November 7, 2008
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.
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.
Thursday, October 30, 2008
Wheat AR & Spring Crop PR & Farmers Meeting
This is Tanya Stimpson with this week’s crop insurance update brought to you by Sewell Agency. This week’s topic is wheat Acreage reports, corn and bean production report and information on a farmers meeting for Pasture and Forage coverage.
There has been some heavy field work this week. With this also come records. Wheat has to be planted by October 31 and then reported to your insurance agent by end of November. And as you are cutting your beans and corn, keep your yields out and the first rainy day get them reported to your agent. It does not take a lot of time and then you will be able to put those tickets away. For claim purposes you have 15days from the last harvest day per unit to turn your yields and claim into your agent.
We are working together with David MeNeely CED of the Livingston county Office to put on a farmers meeting November 14th @ 7:30AM. David will be talking about the Sure and Disaster Programs and we will hit on the new Pasture and Hayland Drought coverage. RSVP is not required but is really appreciated. You can call us at 1-800-281-4020.
There has been some heavy field work this week. With this also come records. Wheat has to be planted by October 31 and then reported to your insurance agent by end of November. And as you are cutting your beans and corn, keep your yields out and the first rainy day get them reported to your agent. It does not take a lot of time and then you will be able to put those tickets away. For claim purposes you have 15days from the last harvest day per unit to turn your yields and claim into your agent.
We are working together with David MeNeely CED of the Livingston county Office to put on a farmers meeting November 14th @ 7:30AM. David will be talking about the Sure and Disaster Programs and we will hit on the new Pasture and Hayland Drought coverage. RSVP is not required but is really appreciated. You can call us at 1-800-281-4020.
Friday, October 17, 2008
Wheat Season & Pasture/Hay Rainfall Coverage
This is Lonnie Sewell with this week’s crop insurance update. Brought to you by the Sewell Agency in Chillicothe and ASI Crop Hail Insurance.
Wheat signup is over and next will be acreage reporting. Be sure to report your planted wheat acres as soon as you have finished planting or have decided not to plant. The early price on wheat is over 8 dollars.
The harvest price on 2008 soybeans is half way through the month and is tracking in the mid 9 dollar range. That means we may have a revenue loss, even if we have an average yield. Be sure to check with your agent immediately after harvest. The length of time to report a claim is limited after the harvest of that unit.
Pasture and Hay Rainfall Coverage will be available for 2009, but you must sign up in November 2008. The premiums look pretty good. We will probably have some meetings on this soon.
For more information, phone the Sewell Agency in Chillicothe at 660-646-4020.
Wheat signup is over and next will be acreage reporting. Be sure to report your planted wheat acres as soon as you have finished planting or have decided not to plant. The early price on wheat is over 8 dollars.
The harvest price on 2008 soybeans is half way through the month and is tracking in the mid 9 dollar range. That means we may have a revenue loss, even if we have an average yield. Be sure to check with your agent immediately after harvest. The length of time to report a claim is limited after the harvest of that unit.
Pasture and Hay Rainfall Coverage will be available for 2009, but you must sign up in November 2008. The premiums look pretty good. We will probably have some meetings on this soon.
For more information, phone the Sewell Agency in Chillicothe at 660-646-4020.
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