While there was no widespread crop loss in the Eastern Corn Belt this year, that does not mean there will not be any crop insurance claims filed. Jason Alexander, with Farm Credit Mid-America, says most of the damage was confined to local areas, “We had some areas where flooding was a problem and some areas where drought was an issue.” He added that grain quality was also an issue on many farms which could trigger a claim.
Alexander says your yields and market price action may make you eligible for a crop insurance claim, “When you look at your final yields, and factor in market prices and your level of coverage, you may find you qualify for a claim for 2016.” More information on crop insurance, and other financial tips and resources, is available at e-farmcredit.com.