Dry Bean Projected Prices Released for 2021 CY/in Ag Business, Crops, Weekly E-News /by Red River Farm Network
New Crop Insurance Option for 2021/in Ag Business, Crops, Weekly E-News /by Red River Farm Network
Select Counties Can Hay/Grazing Cover Crops Early/in Crops, Policy, Weekly E-News /by Red River Farm Network
RMA Extends Deadlines, Defers Interest Accrual Date/in Ag Business, Crops, Weekly E-News /by Red River Farm Network
Crop Insurance Flexibilities Added/in Ag Business, Crops, Weekly E-News /by Red River Farm Network
Crop Insurance Premiums Due Jan. 31/in Ag Business, Crops, Weekly E-News /by Red River Farm Network
USDA’s Risk Management Agency is reminding farmers that crop insurance premiums are due January 31. Accrual of interest had been deferred for the 2019 crop year. If it’s not paid by then, the interest will attach on February 1, calculated from the date of the premium billing notice. The extended interest deferral built on other steps taken by USDA to support farmers and ranchers impacted by flooding and other disasters. As of January 13, RMA has paid roughly $8.1 billion in overall claims for the 2019 crop year.
RMA to Defer Interest on Crop Insurance Premiums/in Ag Business, Crops, Weekly E-News /by Red River Farm Network
To help farmers hurt by the extreme weather, USDA’s Risk Management Agency will defer the accrual of interest on 2019 crop insurance premiums until the end of January. USDA Under Secretary Bill Northey made that announcement at the National Association of Farm Broadcasting convention. The Agriculture Department had previously announced a deferral until November 20 from the established September 30 deadline. Northey, who spent time last week in Minnesota and North Dakota, said the extension is needed due to the very delayed harvest.
Prevent Plant ‘Top Up’ Payments to be Paid in October/in Ag Business, Crops, Weekly E-News /by Red River Farm Network
Farmers who filed a prevent plant claim will automatically receive a ‘top-up’ payment. A ten percent payment will be made to farmers with Yield Protection and Revenue Protection with the Harvest Price Option. Those with Revenue Protection will receive 15 percent.
“This has been such a tremendously tough year for producers and frankly, insurance guarantees aren’t as high as we’d like them based on the low commodity prices,” said Martin Barbre, administrator, Risk Management Agency. Barbre says the crop insurance companies will begin making the ‘top-up’ payments in mid-October. “I applaud the companies for stepping up and signing this agreement to bring these important funds to their producers.
USDA RMA Press Release
Crop Insurance Interest Accrual Deferred/in Ag Business, Crops, Weekly E-News /by Red River Farm Network
USDA’s Risk Management Agency will defer accrual of interest for all farmer’s spring 2019 crop year premiums, due to the extreme weather conditions, for two months or until November 30. That’s for all policies with a premium billing date of August 15. According to the USDA, any premium not paid by one of these new deadlines will accrue interest consistent with terms of the policy. Without the deferral, policies with an August 15 premium billing date would have an interest attach starting October 1 if policies weren’t paid by September 30.
Northarvest Bean Grower – Our Mission:
NHBGA, growers representing growers through the check-off system, is North America’s largest supplier of quality dry beans. Working together to better the industry through promotion, research, market development, education of consumers and monitoring of governmental policy. Our future goals must be continued market exposure and careful monitoring of new ideas, consumer choices, and producer needs.
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