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Important risk management decisions loom
Farmers will be making a lot of important risk management decisions over the next two months.
Farm business management analyst Kent Thiesse with the Green Solutions Group says the spring crop insurance price is set in February.
“So if we do get some strength in the market here, due to South America (or other factors), that certainly would help our risk coverage because the higher the guaranteed price it makes it even more attractive.”
He tells Brownfield March 15th is the deadline to elect crop insurance coverage and April 15th is the deadline for farm program signup.
“If you are considering using SCO coverage in tune with the Price Loss Coverage Program in the farm program, you really need to make that farm program decision by March 15th because you need to sign up for the SCO coverage by March 15th.”
Thiesse encourages growers to take time now to consider how risk management tools like SCO and PLC might interact so they are prepared for upcoming deadlines.
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