Farmers have until the end of this month to decide if they’d like to take USDA’s new Margin Protection Crop Insurance plan. Known as M-P, the program most closely aligns with the current A-R-P, or Area Revenue Protection, crop insurance plan. University of Illinois Agricultural Economist Gary Schnitkey says while there is difference the one of note is the price …
Cotton the Main Crop Taking the Brunt of Losses from Harvey
Cotton producers in the path of Harvey will be filing a lot of crop insurance claims over the next few weeks. Gary Crawford has the details. Sponsored ContentNuseed Carinata Covers New GroundJuly 15, 2024CIR Agriculture Harvester ProductsJuly 1, 2024TriEst Ag Group: Partners in ProfitabilityApril 1, 2024
Crop Insurance Industry Responds to GOA Report
The crop insurance industry is calling a report by the Government Accountability Office “disheartening.” The GAO last week recommended to Congress that it considers directing the Department of Agriculture to adjust the expected rate of return for crop insurance. In 2010, USDA negotiated with insurance companies to set a 14.5 percent target rate. According to GAO’s analysis, the reasonable rate …
GAO Recommends Lowering Crop Insurance Expected Rate of Return
The Government Accountability Office is recommending that Congress considers directing the Department of Agriculture to adjust the expected rate of return for crop insurance. In 2010, USDA negotiated a set rate of return with crop insurance providers. The return is how much companies can profit from insurance policies. In a report released last week, the GAO found that the expected …
AFBF, AFBIS, Others, Propose Dairy Revenue Protection Insurance Concept
A proposal submitted to the Federal Crop Insurance Corporation by the American Farm Bureau Federation (AFBF), American Farm Bureau Insurance Services (AFBIS), and others would provide a revenue-based insurance option for dairy farmers, different from the current margin-based insurance options available. AFBF Market Intelligence Director John Newton explains how the Dairy Revenue Protection insurance concept will work for dairy farmers. …
Apiculture Insurance Expanded to More States
Increased safety net available to beekeepers in 48 states. Crop insurance for beekeeper operations has been expanded to include 19 additional states and now spans the entire 48 contiguous states. The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) announced changes to the Apiculture Pilot Insurance (API) plan, ensuring greater protection for the producers’ honey, pollen collection, wax, and …
Crop Insurance Comments Could Jeopardize Clovis Nomination
Comments made by Senate Agriculture Committee leaders suggest that Sam Clovis’s position on crop insurance could jeopardize his nomination for a top post at the Department of Agriculture. Senate Agriculture Ranking Democrat Debbie Stabenow and Chairman Pat Roberts both eluded to the nominee’s statements on crop insurance. Clovis has previously questioned the constitutionality of crop insurance. Stabenow said: “It is …
Peanut Planting Deadlines Nearing
The crop insurance planting date deadlines for peanuts is nearing. Tyron Spearman has this reminder. Sponsored ContentNuseed Carinata Covers New GroundJuly 15, 2024CIR Agriculture Harvester ProductsJuly 1, 2024TriEst Ag Group: Partners in ProfitabilityApril 1, 2024
Crop Insurance Industry Fears Budget Cuts
President Donald Trump’s budget is expected to be released on Tuesday and it’s still not known if or how much the president is expected to cut from farm subsidies and other programs that serve rural areas. Early press reports indicate that farm subsidies will be part of $1.7 trillion in proposed cuts to mandatory spending. House Ag Committee Chair Mike …
Crop Insurance Policies Indicate a 1.71 Million Acre Peanut Crop
The number of 2017 peanut crop insurance policies processed through the USDA Risk Management Agency’s system may give us a good indication of the peanut acreage that will be planted this year. Tyron Spearman has the details. Sponsored ContentNuseed Carinata Covers New GroundJuly 15, 2024CIR Agriculture Harvester ProductsJuly 1, 2024TriEst Ag Group: Partners in ProfitabilityApril 1, 2024