Cover crop insurance Cover crops are a conservation practice with wide ranging benefits, from improving soil health to protecting water quality. Many farmers who planted fall cover crops are now eligible for a discount on their crop insurance premium, thanks to a new program announced June 1.
The Pandemic Cover Crop Program (PCCP), available from the U.S. Department of Agriculture’s Risk Management Agency, offers a discount of $5 per acre on a farmer’s 2021 crop insurance premium, but no more than the full premium price.
To be eligible, a producer must report their fall cover crops to the Farm Service Agency no later than June 15. The Report of Acreage form (FSA-578) will require information such as cover crop variety, number of acres, planting dates, and irrigation practices. Once the report has been submitted, eligible farmers will be automatically enrolled and see the discount reflected on their premium later in the year.
2021 Crop Insurance Options Explained
wxerfm.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wxerfm.com Daily Mail and Mail on Sunday newspapers.
2021 Crop Insurance Options Explained
wtaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wtaq.com Daily Mail and Mail on Sunday newspapers.
MT. JULIET, Tenn. (DTN) Spring crop insurance guarantees for corn and soybeans will be $4.58 and $11.87 per bushel, respectively, increases of $0.70 and $2.70 from last year.
For corn, it’s the highest spring guarantee since 2014; it’s the highest since 2013 for soybeans.
The guarantees are an integral part of revenue protection crop insurance policies. While farmers have several types of federally subsidized crop insurance to choose from, revenue protection is the most popular. The spring guaranteed prices are calculated by averaging the daily close of the December corn and November soybean contracts throughout February. They’re then combined with the farm’s historical yield average to calculate a level of insurable revenue. Farmers can elect to cover up to 85%, with most farmers choosing to purchase 75%, 80% or 85%, depending on what the premiums are in their area.