For producers wanting to make elections and enroll in the ARC or PLC program, the sign-up period is open through March 15, 2024. It is encouraged to work with the local USDA county Farm Service Agency (FSA) office to complete this process.

With the Sales Closing Deadline approaching, I have been asked several questions regarding the different crop insurance plans and how they work. More specifically, the Enhanced Coverage Option (ECO) and Supplemental Coverage Option (SCO) endorsement. Both endorsements provide coverage for a portion of the deductible of an insured underlying crop insurance policy.

What are good farming practices and why are they important? The Federal crop insurance program covers losses that are unavoidable and due to naturally occurring events. The program does not cover losses due to negligence, or any failure to follow good farming practices.

When it comes to determining the value of your property, whether for buying, selling, refinancing, or other purposes, it's crucial to rely on the expertise of a qualified professional. Two common choices for property appraisal are certified appraisers and real estate agents or brokers. While both can provide valuable insights, there are key differences between the two.

Revenue Protection (RP) provides coverage against yield losses due to natural weather causes and the decline of the commodity price between the Projected Price and Harvest Price. As we reach the end of October, the Chicago Board of Trade (CBOT) has been tracking the harvest price for corn and soybeans in the Midwest. This dollar amount will be released in early November and plays an important factor when determining if a grower or policyholder will have a revenue loss for the 2023 growing season.

My brother and I own land that has been in our direct family lineage for 150 years, and I am proud of this legacy. There is a general admiration for farm operations that have been in a family for several generations. However, there can be surprises in the event of a death or marriage dissolution that a family may be unaware of when there are multiple owners with varying fractions of ownership, resulting in minority ownership.

Throughout my 20-year career at Peoples Company, I have been involved in billions of dollars of real estate transactions and have witnessed firsthand the financial performance of U.S. farmland through numerous economic shocks including the great financial crisis, Ben Bernanke’s quantitative easing experiment, Trump’s trade wars, the COVID-19 pandemic, Russia’s invasion of Ukraine, and now the nation’s battle with persistent inflation. On a pure return basis, farmland has outperformed most traditional equity and fixed income strategies, and has done so with incredibly low volatility compared to other asset classes over that time period.