June 10 was the last planting date for soybeans in the northwestern corn belt under the federal crop insurance program, in Iowa it’s June 15. Many farmers have decided to take prevented plant, including Elk Point, South Dakota farmer Doug Hanson, who planted his last field of soybeans yesterday. South Dakota could have a record number of prevented plant acres this year and Hanson says that will be the case on his farm.
He’s done the math and says a prevented plant payment isn’t real profitable on corn and soybeans are barely at break even on a per acre basis.
So, Hanson is hopeful the just passed disaster bill will provide an adequate payment on unplanted acres or a buy up on his prevented plant insurance. USDA has not provided any details on the program yet and it is at the Ag Secretary’s discretion.
USDA Secretary Sonny Perdue says they are exploring legal flexibility to provide a minimal per acre MFP payment to those who file for PP and plant an MFP-eligible crop or forage.
