High crop prices raise the stakes

NATIONAL CROP INSURANCE SERVICES

8900 Indian Creek Parkway, Suite 600

Overland Park , KS 66210

FOR IMMEDIATE RELEASE Feb. 1, 2007
For more information contact Jan Eliassen at 410-778-0120. Data in this story was provided by the Risk Management Agency.

Spring crop insurance deadline

The demand for biofuels has dramatically increased the risk exposure of Southern farmers and made the February 28 deadline for signing up for federally subsidized crop insurance all that more important.

The rise in crop prices means higher crop values with more value per acre at risk. It also means higher insurance premiums. What many producers may not realize is that farmer paid premiums will likely be a lower percentage of the protection they get than it was last year.

Producers who want to make sure that their upside price potential is protected should contact a crop insurance agent well before the February 28 deadline.

Some state departments of agriculture are suggesting that you always get a coverage and premium quote from your agent to avoid surprises later. You should also ask for side-by-side quotes of different insurance plans and coverage options as decision aids.

Among the many crops that share the February 28 deadline in nine Southern states are: rice, cotton, corn, grain sorghum, peanuts, and soybeans.

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