With significant changes made to federal crop insurance, Illinois farmers will need to start planning their coverage needs in advance of the March 15 sign-up deadline.
The changes include a trend-adjusted Actual Production History (APH) option and elimination of the biotech yield endorsements for corn and soybeans, according to Country Financial.
“The APH option will allow eligible farmers to have their actual production history based on their county’s historical yield trend,” said Sheri Bane, director of commercial/agribusiness for Country.
Farmers can secure coverage through yield, revenue and county protection policies. Some farmers could qualify for Enterprise Unit coverage that insures all acres of an individual crop within a county.
Farmers can further reduce risk by developing a grain marketing plan. Country financial representatives can help farmers secure market analysis and grain contracts through AgriVisor LLC, a joint venture of Growmark Inc. and Illinois Farm Bureau.