CORN
Crop Insured
CRC provides protection against a decline in market prices as
well as a shortfall in production. The guarantee is in dollars and a loss
situation occurs when the dollar value of your production falls below your
dollar guarantee. CRC offers protection whether prices rise of fall:
- In most years when the price usually decline as harvest
approaches, you are guaranteed a predetermined amount of income per acre.
- In a year of rising prices, a production shortfall would
be compensated at the higher market based harvest price. This is
critical if any lost production must be replaced at higher market prices for
on farm feeding or to fulfill delivery on a forward contract.
Causes of Loss
Adverse weather conditions 1
Failure of irrigation water supply 2
Fire
Harvest price is less than base price
Insects 3
Plant disease 3
Wildlife
Reporting Requirements
You must notify your agent or insurance company representative within 72
hours of discovery of any damage to your crop.
- If crop damage is initially discovered during harvest,
you must notify your agent immediately and leave representative samples of
the un-harvested crop at least 10 feet wide and extending the entire length
of the field.
- If you expect a revenue loss on the unit, you must give
notice no later that 45 days after the harvest price is released.
- You must also give notice before harvesting for silage
any acreage that was insured as grain.
Important Dates
Sales Closing ............................ February 28 or March 15