October 2024 Newsletter

Forage Underwriting Reports due October 15th

The window to report any changes to your Forage Production acres for coverage in 2025 ends October 15th. Information that needs to be reported by this deadline includes any new seeded alfalfa fields, any fields that have been destroyed, any new ground acquired with insurable alfalfa acres and any ground with previously insured alfalfa acres that you will no longer be farming.

Harvest and Claims

It is important to file a claim in a timely manner! There are no penalties for filing a claim or having a claim be released. So if you are unsure, it is best to file a claim! We are happy to help determine if there is a loss or not. Don’t forget, lower harvest prices can create a possible loss on Revenue Products.

2024 September Newsletter

looking at coverage for 2025 crop year

September marks the beginning of the 2025 crop year for crop insurance. Crazy to start thinking about 2025 already, but crop insurance agents are doing just that!

In the fall take a look at levels and coverage for Forage Production, Winter Wheat and Rye. This is the only time of year we are able to make to make changes to these crop contracts, levels and options.

Wheat, forage Production

& rye

Fall contract changes are due by

Fall Sales Closing

Deadline to:

  • Add Fall Crops and New Counties to MPCI Policy

  • Change Plan, Coverage Levels and Options on Fall Crops

  • Transfer or Cancel a Policy

  • Request a Written Agreement for Fall Crops

  • Create a New Entity or Corporation

 

Important Fall Deadlines by Crop

Click on “+” to expand

    • September 30th- Sales closing date. Changes to wheat coverage need to be completed.

    • November 15th- Production Reporting due for winter & spring wheat. Please separate spring wheat and winter wheat bushels and report bushels produced per field or legal description.

    • November 15th- Deadline to report planted Winter Wheat Acres to FSA and Crop Insurance.

    • September 30th- sales closing date for making changes to forage (alfalfa and grass alfalfa mixed) levels, coverage and options

    • October 15th- Forage Acres and stand counts due for 2025 crop year. Any new or destroyed alfalfa should be reported at this time.

    • November 14th- Forage Production due. Bale counts and weights need to be submitted to crop insurance and broke by field and legal description.

    • September 30th- sales closing deadline to add crop or make changes to levels.

    • November 15th- Rye production reporting is due. Report production in bushels by field or legal description to crop insurance.

    • November 15th- Planted acres are to be reported to FSA and crop insurance

    • December 2nd- Sales closing date to make changes to PRF contract levels and options.

    • December 2nd-deadline to report your PRF acres for 2025 crop year.

Projected and Harvest Price Discovery

The Risk Management Agency (RMA) provides farmers with essential information on crop prices for decision-making and risk management. Projected and Harvested Prices are available on RMA’s price discovery page RMA Price Discovery - Home (usda.gov)

Farmers can access current prices for commodities like corn, soybeans, wheat, and cotton, which are updated regularly. The RMA also sets base prices for federal crop insurance, helping protect farmers from price fluctuations.

Please view the table below for Prices as of 9-4-24

July 2024 Newsletter

Acreage Reporting Deadline is Monday, July 15

Don’t forget to report your acres

Contact CIP Agency at 605-845-2850 to report your acres if you have not done so already.

If you have reported already, Thank you! We are mailing out folders with your crop insurance summary and maps. Please review this folder for accuracy and let our office know if there are any corrections or questions.

 

Putting a crop to an alternative use

Please notify us if you plan to hay or graze any insured crop.

Many times oats, millet or corn is planted and used as hay, silage or grazed instead of combined. Please notify us before the crop is cut or grazed so it can be appraised.

If your crop has received any damage, please notify us immediately. Include the county, crop, time and type of damage.

June 2024 Newsletter

TIME TO REPORT ACRES!

When reporting your planted acres to crop insurance, accuracy is crucial. Ensure that you document the exact number of acres planted for each crop, following the guidelines provided by your insurance provider. Double-checking the information before submission can help avoid discrepancies that may affect your coverage later on. It is advisable to keep detailed records of your planting activities and be prepared to provide supporting documentation if needed. Timely and precise reporting of your planted acres will help ensure a smooth process and accurate coverage under your crop insurance policy.

Information needed for Acreage Reporting

  • Crop, Type and Plant Date

  • Planted Acres and/or Prevented Planting Acre

  • Legal Description and CLUs

  • List Any Person Sharing and Percentages

If you have any questions or would like assistance in filling out your maps, please contact our office before the deadline and we would be happy to help!

May 2024 Newsletter

Prevented Planting Resources

Prevented Planting

Prevented Planting is a risk management strategy utilized by farmers when it is not possible to plant crops due to unfavorable weather conditions or other factors. This option allows farmers to receive indemnity payments if they are unable to plant an insured crop by the final planting date. By choosing prevented planting, farmers can mitigate potential financial losses caused by circumstances beyond their control.

To determine if you qualify for prevented planting, you should contact your crop insurance agent. They will review your specific situation and provide guidance on eligibility based on the relevant criteria outlined in your insurance policy. It is important to reach out to them promptly to understand your options and next steps.

To file prevented planting, you need to contact your crop insurance agent within 72 hours of deciding not to plant. Your agent will provide you with the necessary forms to submit a prevented planting claim. It's essential to document the decision-making process and keep records of field conditions as evidence for the claim. Submit the required forms promptly to ensure a smooth processing of your prevented planting claim.

For more information click on “Resources” below to view our website

March 2024 Newsletter

2024 projected price

Spring Wheat….………$6.84

Spring Oats….…………$3.38

Corn……………..…….. $4.66

Grain Sorghum……..….$4.67

Oil Sunflower…...……..$0.238

Confection Sunflower…$0.288

Soybeans………………. $11.55

Projected Crop Insurance Prices Released

Crop insurance price is a significant factor for farmers when considering risk management strategies. The cost of crop insurance can vary depending on various factors such as the type of crop, location, coverage level, and historical yield data. Farmers often evaluate different insurance options to find the best coverage that suits their needs while remaining cost-effective. Understanding the intricacies of crop insurance pricing is essential for farmers to make informed decisions to protect their crops and livelihoods.

Sales Closing Deadline March 15th, 2024

Deadline Approaching for Changes to Crop Insurance Contract

Attention all farmers!

Please be advised that the deadline for adjusting your crop insurance policy is quickly approaching. It is crucial to act promptly and make the necessary modifications to ensure that your coverage aligns with the changing needs of your farm.

We strongly urge you to conduct a detailed review of your current insurance policies to guarantee optimal protection for your crops. Don't hesitate to get in touch with CIP Agency as soon as possible to discuss customized insurance options that are designed to meet your individual requirements before the deadline.

Thank you for your attention to this matter.