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Little Change in 2013 Crop Insurance as Important Deadlines Loom

Iowa farmers have until March 15 to pick a federal crop insurance program and report any intentions of bringing pasture or hay into row-crop production.

Crop Insurance DatesAgriculture.com reported that last year about 92 percent and 91 percent of Iowa’s corn acres and soybean acres, respectively, used revenue protection coverage, and those percentages aren’t expected to fall in 2013. Dry subsoil moisture and the memory of last the 2012 Drought is contributing to expectations of little change to the crop insurance program this season.

Missouri Farmer Today reported that the dry weather has yet to affect premiums, noting that one option for farmers may be to choose revenue protection with a trend-adjusted yield option, which was offered for the first time in 2012 as a way of reflecting the long-term trend toward higher yields.

The early corn-planting date is unchanged, and falls on April 11. The early soybean-planting date is April 21.

The deadline for destroying established cover crops is May 10, which will give farmers up until that time to handle spring haying, harvesting or grazing without affecting eligibility, according to a report by High-Plains/Midwest Ag Journal.

The final crop insurance payment is due Oct. 1.

“Farmers should talk with their insurance agent about their various choices regarding their 2013 crop insurance decisions,” wrote Steve Johnson, a Farm Management Specialist with the ISU Extension in Polk County, Iowa, on Agriculture.com.

“Remember, those decisions might include adding policies for specific perils such as hail or wind. Purchasing these endorsements are becoming more common, especially if you elect to use enterprise unit coverage or want to manage the deductible not covered by federal crop insurance.”

To watch a 2013 Land Investment Expo video of climate expert Dr. Simon Atkins share his outlook on the weather, visit us on YouTube and subscribe to the page for notifications of future video releases. Thank you for following Peoples Company.

 

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