2025 March Newsletter

Sales Closing Date March 15, 2025

  • Deadline to make contract changes to spring crops

    • Create a policy for a new person or entity

    • Transfer or Cancel a policy

    • Add or remove a county or crop on policy

    • Make coverage level changes (60% vs 70%)

    • Add options, elections or endorsement (Enterprise by Type, ECO, SCO, etc.)

    • Change unit structure (optional vs enterprise)

    • Apply for a written agreement

Please contact our office at 605-845-2850 to inquire about making any changes your policy before the sales closing date



2025 Spring Projected Prices Released

spring Wheat $6.55

Canola $0.21

Oats $3.51

Flax $12.58

Corn $4.70

Grain Sorghum $4.72

oil Sunflowers $0.24

Soybeans $10.54

Barley $4.48



2025 February Newsletter

spring contracts

Make Changes Today! Call CIP Agency at 605-845-2850

Crop Insurance Selections for 2025

When considering your Multi-Peril Crop Insurance (MPCI) policy for the year, you can make changes to better fit your farming needs. You can adjust coverage levels by choosing different insurance amounts based on your production history and the specific risks of your operation. This allows you to have the right protection against possible losses.

You also have the option to add or remove endorsements, which provide coverage for unique risks linked to specific crops.

It’s important to review the list of insured crops, as updates may be needed to match changes in planting plans or market trends, keeping your policy effective for various crops. For the best results, assess the risks carefully and consult your insurance expert to enhance your crop insurance for the coming year.

Visit: Policyholder Services Account | Rain and Hail

On Rain and Hail's Policyholder Services website, insureds gain access to current MPCI and Crop Hail policy information. Policyholder Services members have the ability to run reports and inquiries as well as view various manuals and documents. Other available tools and content include policy summary information, planted acreage, premium notice and online payment, claim status, a listing of important dates and a variety of coverage quoting tools.

Have questions or need to make changes to your current policy? Please fill out the form below to request a follow up. We are happy to help!

2024 December Newsletter

Thank You!

from cip agency

From our Family to yours, we want to thank you for your continued support

During these busy days between Thanksgiving and Christmas, we want to take a moment to thank you for your business. We want to wish you and your family the very best during this holiday season.

Merry Christmas and a Happy New Year!

Karen, Leon & Susan

 

Production and Claims

It’s every farmer and ranchers favorite time of year! Paperwork season! :) When putting together crop production it’s important to keep a few things in mind.

  • Grain that is sold must have settlement sheets identifying the unit from which the production was harvested

  • Farm stored production may use acceptable weight records, such as a grain cart, to separate production into the field it was harvested from.

  • Accurately report your production for each crop insurance unit for each year and retain verifiable records to support that production for three years

Looking ahead to 2025

As 2024 winds down, we are looking ahead to the 2025 crop year. In January we will attend training for spring crop insurance. Keep an eye out for any changes that may apply you and your operation.

2024 November Newsletter

Fall Production Reporting

Report your winter wheat, spring wheat, rye and forage production by November 14th, 2024.

 

Harvest Prices Released

Table showing Projected (Spring) Price and Harvest (Fall) Price for listed commodities in 2024.

Crop Insurance Claim Using Lower Harvest Price

Introduction

When the harvest price falls below the insured price, farmers have the option to file a crop insurance claim based on the lower harvest price. This process ensures that producers receive the compensation they need to mitigate financial losses caused by unpredictable market conditions.

Understanding Harvest Price

The harvest price is determined at the time of harvest and reflects the market value of the crop. It is crucial for farmers to monitor these prices, as they can significantly impact their overall revenue and insurance payouts.

Filing a Claim

  1. Documentation:

    • Farmers should gather all necessary documentation, including yield records and production reports.

  2. Notification:

    • Notify your crop insurance agent as soon as you determine that the harvest price could create a loss. Timely communication is essential for a smooth claims process.

  3. Claim Submission:

    • Complete the required claim forms provided by your insurance provider. Be thorough and accurate in reporting the details of your harvest and the corresponding production.

  4. Assessment:

    • The insurance adjuster will assess the claim using the provided documentation.

Calculation of Payout

The payout for a claim based on a lower harvest price is calculated by considering the difference between the insured price and the lower harvest price, multiplied by the insured yield. Understanding this calculation is vital, as it affects the total compensation received.

Conclusion

Filing a crop insurance claim using a lower harvest price can help farmers navigate challenging financial circumstances. By ensuring all documentation is in order and staying proactive in communication with insurance agents and adjusters, producers can facilitate a smoother claims process and ultimately receive the support they need.

Pasture, Rangeland and Forage (PRF)

Pasture, Rangeland, and Forage Insurance (PRF) is essential for ranchers and livestock producers, protecting grazing land from insufficient rainfall. PRF helps safeguard income against drought, with flexible coverage options based on local rainfall patterns.

Federally backed, PRF is affordable, with attractive premium rates and possible subsidies.

Investing in PRF insurance is a proactive step to protect your livelihood and sustain your grazing resources.

Sign up for a new policy or make changes to an existing policy and report acres by December 1st, 2024.

October 2024 Newsletter

Forage Underwriting Reports due October 15th

The window to report any changes to your Forage Production acres for coverage in 2025 ends October 15th. Information that needs to be reported by this deadline includes any new seeded alfalfa fields, any fields that have been destroyed, any new ground acquired with insurable alfalfa acres and any ground with previously insured alfalfa acres that you will no longer be farming.

Harvest and Claims

It is important to file a claim in a timely manner! There are no penalties for filing a claim or having a claim be released. So if you are unsure, it is best to file a claim! We are happy to help determine if there is a loss or not. Don’t forget, lower harvest prices can create a possible loss on Revenue Products.

2024 September Newsletter

looking at coverage for 2025 crop year

September marks the beginning of the 2025 crop year for crop insurance. Crazy to start thinking about 2025 already, but crop insurance agents are doing just that!

In the fall take a look at levels and coverage for Forage Production, Winter Wheat and Rye. This is the only time of year we are able to make to make changes to these crop contracts, levels and options.

Wheat, forage Production

& rye

Fall contract changes are due by

Fall Sales Closing

Deadline to:

  • Add Fall Crops and New Counties to MPCI Policy

  • Change Plan, Coverage Levels and Options on Fall Crops

  • Transfer or Cancel a Policy

  • Request a Written Agreement for Fall Crops

  • Create a New Entity or Corporation

 

Important Fall Deadlines by Crop

Click on “+” to expand

    • September 30th- Sales closing date. Changes to wheat coverage need to be completed.

    • November 15th- Production Reporting due for winter & spring wheat. Please separate spring wheat and winter wheat bushels and report bushels produced per field or legal description.

    • November 15th- Deadline to report planted Winter Wheat Acres to FSA and Crop Insurance.

    • September 30th- sales closing date for making changes to forage (alfalfa and grass alfalfa mixed) levels, coverage and options

    • October 15th- Forage Acres and stand counts due for 2025 crop year. Any new or destroyed alfalfa should be reported at this time.

    • November 14th- Forage Production due. Bale counts and weights need to be submitted to crop insurance and broke by field and legal description.

    • September 30th- sales closing deadline to add crop or make changes to levels.

    • November 15th- Rye production reporting is due. Report production in bushels by field or legal description to crop insurance.

    • November 15th- Planted acres are to be reported to FSA and crop insurance

    • December 2nd- Sales closing date to make changes to PRF contract levels and options.

    • December 2nd-deadline to report your PRF acres for 2025 crop year.

Projected and Harvest Price Discovery

The Risk Management Agency (RMA) provides farmers with essential information on crop prices for decision-making and risk management. Projected and Harvested Prices are available on RMA’s price discovery page RMA Price Discovery - Home (usda.gov)

Farmers can access current prices for commodities like corn, soybeans, wheat, and cotton, which are updated regularly. The RMA also sets base prices for federal crop insurance, helping protect farmers from price fluctuations.

Please view the table below for Prices as of 9-4-24

July 2024 Newsletter

Acreage Reporting Deadline is Monday, July 15

Don’t forget to report your acres

Contact CIP Agency at 605-845-2850 to report your acres if you have not done so already.

If you have reported already, Thank you! We are mailing out folders with your crop insurance summary and maps. Please review this folder for accuracy and let our office know if there are any corrections or questions.

 

Putting a crop to an alternative use

Please notify us if you plan to hay or graze any insured crop.

Many times oats, millet or corn is planted and used as hay, silage or grazed instead of combined. Please notify us before the crop is cut or grazed so it can be appraised.

If your crop has received any damage, please notify us immediately. Include the county, crop, time and type of damage.

June 2024 Newsletter

TIME TO REPORT ACRES!

When reporting your planted acres to crop insurance, accuracy is crucial. Ensure that you document the exact number of acres planted for each crop, following the guidelines provided by your insurance provider. Double-checking the information before submission can help avoid discrepancies that may affect your coverage later on. It is advisable to keep detailed records of your planting activities and be prepared to provide supporting documentation if needed. Timely and precise reporting of your planted acres will help ensure a smooth process and accurate coverage under your crop insurance policy.

Information needed for Acreage Reporting

  • Crop, Type and Plant Date

  • Planted Acres and/or Prevented Planting Acre

  • Legal Description and CLUs

  • List Any Person Sharing and Percentages

If you have any questions or would like assistance in filling out your maps, please contact our office before the deadline and we would be happy to help!

May 2024 Newsletter

Prevented Planting Resources

Prevented Planting

Prevented Planting is a risk management strategy utilized by farmers when it is not possible to plant crops due to unfavorable weather conditions or other factors. This option allows farmers to receive indemnity payments if they are unable to plant an insured crop by the final planting date. By choosing prevented planting, farmers can mitigate potential financial losses caused by circumstances beyond their control.

To determine if you qualify for prevented planting, you should contact your crop insurance agent. They will review your specific situation and provide guidance on eligibility based on the relevant criteria outlined in your insurance policy. It is important to reach out to them promptly to understand your options and next steps.

To file prevented planting, you need to contact your crop insurance agent within 72 hours of deciding not to plant. Your agent will provide you with the necessary forms to submit a prevented planting claim. It's essential to document the decision-making process and keep records of field conditions as evidence for the claim. Submit the required forms promptly to ensure a smooth processing of your prevented planting claim.

For more information click on “Resources” below to view our website

March 2024 Newsletter

2024 projected price

Spring Wheat….………$6.84

Spring Oats….…………$3.38

Corn……………..…….. $4.66

Grain Sorghum……..….$4.67

Oil Sunflower…...……..$0.238

Confection Sunflower…$0.288

Soybeans………………. $11.55

Projected Crop Insurance Prices Released

Crop insurance price is a significant factor for farmers when considering risk management strategies. The cost of crop insurance can vary depending on various factors such as the type of crop, location, coverage level, and historical yield data. Farmers often evaluate different insurance options to find the best coverage that suits their needs while remaining cost-effective. Understanding the intricacies of crop insurance pricing is essential for farmers to make informed decisions to protect their crops and livelihoods.

Sales Closing Deadline March 15th, 2024

Deadline Approaching for Changes to Crop Insurance Contract

Attention all farmers!

Please be advised that the deadline for adjusting your crop insurance policy is quickly approaching. It is crucial to act promptly and make the necessary modifications to ensure that your coverage aligns with the changing needs of your farm.

We strongly urge you to conduct a detailed review of your current insurance policies to guarantee optimal protection for your crops. Don't hesitate to get in touch with CIP Agency as soon as possible to discuss customized insurance options that are designed to meet your individual requirements before the deadline.

Thank you for your attention to this matter.