The deadline to sign-up for crop insurance for the 2016 crop season is quickly approaching and this safety net will be more critical than ever this season. Tyler Leighton is a Farm Credit Services of American insurance officer in Mitchell. He says so far the February average prices for corn and soybeans look like they will be below a year ago, raising the importance of this risk management tool.
Leighton says compliance requirements have been tightened for 2016 for farmers to receive their government crop insurance subsidy.
He says there aren’t many other changes for 2016, except for the whole farm revenue insurance pilot expansion. However, they’ve analyzed the program and don’t think it’s a good fit in this area.
The sales closing date for crop insurance is March 15.
