 Most producers in Illinois, Indiana, Michigan and Ohio will see
a premium rate reduction for corn and soybeans this year because
of a change in the method RMA uses to set premium rates.Corn
and soybean producers will also have a new option that adjusts a
producer's actual yield to reflect the yield increases because
of improved production practices and crop genetics. This option,
called the Trend-Adjusted Actual Production History, increases a
producer's past yields based on the county's historical yield
trend. Check with a crop insurance agent for details and to
elect the Trend-Adjusted APH endorsement. A decision to use this
endorsement must be made by March 15.
Projected prices for corn and soybean will be released in
early March. These prices are based on the Chicago Board of
Trade and are used for all coverage options. Prices for other
crops are either established by RMA or, for some crops, the
producer's contract price. Prices established by RMA can be
viewed on the "Information Browser" at
www.rma.usda.gov.
Frieden encourages producers to review their crop insurance
options with their crop insurance agent by the March 15
deadline.
Producers who qualify as limited-resource farmers may have
administrative fees waived. Crop insurance agents will assist
the qualifying producers with determining eligibility for
waivers.
[Text from file received from USDA
Risk Management Agency,
Springfield] |
