Pre-Deadline Crop Insurance Workshop Presented by DDA

Monday, March 9, 2009     6:30 – 8:30 p.m.
Delaware Department of Agriculture
2320 S. DuPont Highway, Dover, DE
with live ITV link to
Carvel Research and Education Center
16483 County Seat Hwy
Georgetown, DE

The featured speaker will be Clif Parker, recently retired Assistant Deputy Administrator with the USDA Risk Management Agency (RMA). During his career with RMA, Mr. Parker worked with many aspects of the development and administration of federal crop insurance.  His inside perspective will be of interest to Delmarva farmers preparing to make crop insurance decisions prior to the March 16 sales closing and policy change date.

The latest information on Crop Revenue Coverage, Group Risk Plan, Group Risk Income Protection, and traditional Actual Production History coverage will be presented. Discussions will include how to use crop insurance to optimize your potential benefits under the new Supplemental Revenue Assistance Program (SURE) administered by the USDA Farm Service Agency.

The USDA Risk Management Agency has announced the following for crops covered by Crop Revenue Coverage (CRC) and Group Risk Income Protection (GRIP). Coverage and premium examples for these crops will be covered during the Pre-Deadline Crop Insurance Workshop

Crop Revenue Coverage
The following 2009 crop year base prices, along with low and high price factors, have been approved for CRC corn, grain sorghum, soybeans, and spring wheat in counties with a March 15 cancellation date.

Price Factors

Crop Base Price Low High
Corn $4.04/bushel 0.944 0.944
Grain Sorghum $3.56/bushel 0.833 0.833
Soybeans $8.80/bushel 1.831 1.831

Group Risk Income Protection
The following 2009 CY expected prices and volatility factors have been approved for GRIP corn, grain sorghum, soybeans, and wheat in counties with a March 15 cancellation date.

Crop

Expected Price

Volatility Factor

Corn $4.04/bushel 0.34
Grain Sorghum $3.56/bushel 0.34
Soybeans $8.80/bushel 0.31

So that enough workshop materials can be made available, those planning to attend are asked to register by calling the DDA Crop Insurance Info Line – (877) 673-2767.