October Crop Insurance Updates

Let Us Make Production Reporting Easy!

It’s that time of year again—harvest is here and production reporting is just around the corner.  At Ursa Farmers Coop, we try to make production reporting as easy as possible.  We can access your Proof of Yield and Loads Report here at the coop, making that one less thing you have to worry about. 

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When figuring losses, we use the Revenue Loss Estimator from NAU Country Insurance.  This handy worksheet easily lets us plug in your 2018 yields, and based on your guarantee and the fall harvest price, easily determine if there is potential for a claim.  All claims have to be reported by December 10, 2018, or 60 days after the crop is harvested in order to be eligible for a loss payment.  With the potential for lower harvest prices compared to the spring prices ($3.96 corn and $10.16 beans) – there will likely be revenue claims to turn in.  These can be hard to estimate without running all the numbers.  Please contact your crop insurance agent prior to December 10, 2018 to make sure you are not missing out on any loss payments! 

Contact Peggy Duesterhaus at Ursa (217.964.2714), Hannah Wollbrink at Bowen (217.617.3572) or Jennifer Wood at Canton (217.257.8812) to have any of your crop insurance questions answered. 

Revenue Loss Estimator Example

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Enter total bushels in first yellow square to figure if there is a revenue or yield loss.  The 2018 harvest price is still TBD.  Once this is finalized around November 1, we can figure exact loss amounts. 

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Crop Insurance Updates

You have until March 15, 2019 to make any changes or updates to your crop insurance policy.  Were you satisfied with your coverage this year?  Do you have any high-risk acres that might be misclassified?  Do you have enough coverage to confidently forward contract prior to harvest?  Any of our UFC crop insurance agents are available to review your current policy, at no cost, to make sure you have all the tools you need to ensure a successful crop year. 

 

Important Dates

  • October 20, 2018—Final Wheat Plant Date IA & IL
  • October 31, 2018—Final Wheat Plant Date MO
  • November 15, 2018—PRF (Pasture Rangeland Forage) Deadline
  • December 10, 2018—Claims Deadline
  • March 15, 2019—Sales Closing Date 2019 Crop Insurance

 

Contact any one of UFC’s Crop Insurance Agents today with questions!

Ursa Farmers Cooperative is an Equal Opportunity Provider.

 

 

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