The deadline for purchasing or modifying crop insurance policies for the 2011 growing season is March 15, state Acting Agriculture Commissioner Darrel J. Aubertine is reminding farmers.
Crop insurance provides farmers with a level of assurance against weather, disease and market risk as it relates to the crops produced on their farms.
Crop insurance can protect farm revenue or crop yields depending on your need. Crop insurance coverage is required to qualify for federal disaster payments, should a weather disaster occur. With the help of a crop insurance agent, you can review risk and determine what is best for you.
The deadline applies to most spring-planted field crops.
To insure by written agreement, the producer must have production records for the last three years for the crop to be insured or for a similar crop. Spring wheat and other crops for which premium rates are not established for the county may be able to be insured by written agreement if filed by the March 15 deadline.
The projected insurance prices for grains are as follows:
· Corn insured as grain is $6.01/bushel
· Corn insured for silage with a tonnage guarantee is $42.25/ton
· Organic corn insured as grain is $10.75/bushel
· Soybeans are $13.52/bushel
· Organic soybeans are $24.20/bushel
· Spring barley is $5.93/bushel
The March 15 deadline also applies to first-time buyers of Adjusted Gross Revenue-Lite (AGR-Lite), revenue insurance for diversified growers that provides whole farm production coverage.
Producers insuring multiple or large farms may wish to insure using “enterprise units” to receive up to a 50 percent premium discount.
A list of agents who sell crop insurance is available on the web at http://www3.rma.usda.gov/apps/agents/ or at the St. Lawrence County USDA Farm Service Agency office at 1942 Old DeKalb Road, Canton, 386-2401.
“I urge all producers to review the prices announced for calculating crop insurance protection for spring planted crops and discuss crop insurance coverage with an agent," Acting Commissioner Aubertine said.
"Crop insurance coverage can protect farm income in the event of a poor season. With corn and soybean prices this high, it makes good sense to consider revenue coverage, which is one way to protect the higher investments being made in the field in terms of fertilizer and seed.”