USDA Chief Economist Seth Meyer, while speaking at the 2022 National Crop Insurance Industry Annual Convention this week, hinted that the price guarantee for corn in 2022 may be $5.80/bushel, with soybeans possibly looking at $14.11. The adjusted guarantees are reflective of increased demand. As crop threats like tar spot in corn and anticipated drought conditions roll through most of the corn and soybean belts, a supplemental coverage option (SCO) is a popular risk management tool to provide peace of mind going into growing season. ProAg also offers an Enhanced Coverage Option (ECO) that provides additional area-based coverage for a portion of the underlying crop insurance policy deductible.
Enrollment and election for both Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) is open through March 15, 2022. Unsure which is right for you? We’ve broken down the differences between each coverage option here.
Read more on crop insurance election prices and coverage here.
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