For the past week I've been talking to many of my customers and also getting the word out about a program that looks to be popular this year. It's called RAMP. Revenue Accelerator Maximum Protection. Essentially what it allows producers to do is insure up to 95% of your APH. One of the many reasons I like the program is because of the fact that we have been growing some pretty good crops over the past few years. That in turn has raised farmers APH's quite a bit. In many cases I am seeing APH's between 185 and 200 bushels per acre on corn and 48-55 bushels per acre on soybeans. That is why I like RAMP. In many cases farmers have the opportunity to guarantee themselves 180-190 bushel corn and 48-52 bushel beans in 2017. Another thing I like about is is the fact that you can choose an enterprise MPCI policy and the add on RAMP policy can be on an optional basis. If RAMP is something you're interested in I wouldn't waste any time. The company offering it has put a cap on the amount of premium that can be written and once that cap is met it will no longer be offered. If you're interested, give me a call and I would be happy to go over it with you.
The next month will be pretty important in the crop insurance world. Projected harvest prices will be determined in the next month for corn, soybeans, and wheat. The projected harvest price for corn is the average of the December futures during the month of February. For soybeans it is the average of the November futures during February, and for wheat, it is the average of September futures. You can follow the projected harvest prices by clicking on the tab on the left. Lets hope for a nice run up over the next month. As we get into the month I will be running some quotes to get an idea as to what premiums and guarantees will be for the 2016 year.
It's time to begin looking at crop insurance options for the upcoming 2016 farming year. It always seems to amaze me how each year is so different from the next and how things can vary so much in just one County. In 2015, I saw record breaking yields coming in from some producers, and then the worst yields ever coming in from other producers. And these producers farm five miles apart! It is certainly true that hail and wind have minds of their own and choose to stop and start wherever they want.
One thing still remains the same from year to year though. Farmers are eternal optimists and will give it their all to produce a great crop this year.