Crop Insurance

MPCI: Multi-Peril Crop Insurance

MPCI is a federally funded crop insurance plan that covers the insured against multiple perils. Some of the most common perils are:

• Adverse weather
• Insects
• Plant disease
• Wildlife
• Fire (caused by nature)
• Price Decline

There are two ways to cover your crops:

1. RP – Revenue Protection (recommended)
   Revenue Protection policies insure producers against yield losses due to natural causes such as drought, excessive moisture, hail, wind, frost, insects, and disease, and revenue losses caused by a change in the harvest price from the projected price.
   
   
2. YP – Yield Protection
   Yield Protection policies insure producers in the same manner as APH polices, except a projected price is used to determine insurance coverage. The projected price is determined in accordance with the Commodity Exchange Price Provisions and is based on daily settlement prices for certain futures contracts.

Important Dates

SALES CLOSING DATES:
Any NEW policies or existing policy changes must be made by this date.

• Spring Crops: March 15th
• Fall (Wheat): September 30th

ACREAGE REPORTING DATES:
All planted acres need to be reported to FSA & your crop insurance by this date.

• Spring Crops: July 15th
• Fall (Wheat): November 15th(NE) / December 15th(KS)

PRODUCTION REPORTING DATES:
Production should be reported as soon as possible after harvest!

• Spring Crops: ASAP (no later than Dec 10th)
• Fall (Wheat): November 14th

2024 Crop Prices

CORN:

• Projected Price: $4.66
• Harvest Price: $4.16

SOYBEANS:

• Projected Price: $11.55
• Harvest Price: $10.03

WHEAT:

• Projected Price: $7.38
• Harvest Price: $5.69