CARMI, Ill. (RFD-TV) — As harvest continues across the country, crop insurance providers are finalizing projected harvest prices for insured crops. These figures play a key role in determining how policies perform and whether farmers will qualify for indemnities.
Brooks York with Agri-Sompo says this year’s focus is on where prices for major commodities stand heading into the final stretch. He explains that harvest prices are used to calculate actual revenues and compare them against coverage guarantees — a critical step in assessing potential losses.
York adds that lower discovery prices in some regions could trigger claims in certain areas of the country, which we might begin to see as the season wraps up.
Related Stories
Farm legal and taxation expert Roger McEowen discusses the rise of drone technology in agriculture and how the ”plain view” doctrine could inform future regulatory law and insurance inspections of farmland.
Recent trade action could really begin to show up.
Farm legal and taxation expert Roger McEowen briefly discusses a range of topics related to farm-related taxes, estate planning, and farm transitions.
Recurring (and recent) tax and legal issues impacting farmers and ranchers – it’s the topic of today’s Firm to Farm blog post by farm legal and tax expert Roger McEowen with the Washburn School of Law.
