FOR IMMEDIATE RELEASE
For more information contact Jan Eliassen at 410-778-0120. Data in this release
was provided by the Risk Management Agency.
Big crop insurance deadline two weeks off
Choices to be made
In 39 states, across the northern two thirds of the country, March 15 is the
farmer deadline for signing up for federally subsidized crop insurance on most
Spring planted crops.
It is also the deadline for making any changes to existing policies, a special
consideration for soybean growers who are looking at very high Spring futures
prices and may want to switch to revenue insurance policies like Crop Revenue
Coverage (CRC) or Revenue Assurance (RA).
Ag economists report that the Spring futures price for commodities like corn,
wheat, and soybeans is higher than the harvest time price eight out of ten
years. RA and CRC policies allow the producer to lock in a Spring price for a
large portion of the expected yield.
Corn, spring wheat, and a large variety of other Spring crops also share the
March 15 deadline. Some states have as many as 16 different insurable crops with
this deadline.
The number of crops insurable, and the types of policies available, varies from
state to state and from county to county. Any producer wishing to sign up for
(or to make any changes to), crop insurance policies must contact a crop
insurance agent before the deadline.
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