Spring closing date for crop insurance March 15

Feb 10, 2009      Mt. Vernon Register-News

Feb. 10, 2009 (McClatchy-Tribune Regional News delivered by Newstex) -- SPRINGFIELD -- The sales closing date for the 2009 crop insurance is March 15 for spring planted crops such as corn, grain sorghum, soybeans, hybrid seed corn, green peas, oats, popcorn, cabbage, sweet corn and processing beans.

Last year, about $9.8 billion in protection was provided to Illinois farmers through more than 102,400 policies on crops, according to Brian D. Frieden, director of the Springfield regional office of the Risk Management Agency.

"Given current crop price fluctuations and the constant threat of natural disasters, obtaining some level of risk protection is essential for most family farmers," Frieden said. "With Illinois experiencing its second-wettest year on record in 2008, excess moisture and flood losses were the major cause of crop losses. From prevented planting and crop replanting issues in the spring to flood losses in the summer and fall, the past growing season reinforced the need for crop risk protection. Along with the weather extremes of past growing seasons...this year is a vivid reminder that eventually every producer will have to cop with crop losses or low prices. Appropriate or revenue insurance protection will help producers survive these hardships."

Frieden reminds producers that price guarantees for revenue products such as Revenue Assurance, Crop Revenue Coverage and the Group Risk Income Protection policies are based on the Chicago Board of Trade.

"In this uncertain market, producers should pay particular attention to the 2009 price guarantees when they are announced around March 1," information states. "The announced prices will greatly impact coverage level and premium cost on revenue policies."

Since the March 15 sales closing date falls on a Sunday, the insurance application will be accepted through Monday, March 16.

More information and a list of crop insurance agents is available at www.rma.-usda.gov/tools/agents.

Newstex ID: KRTB-0392-31638115

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