A higher spring base price for crop insurance may allow farmers to take advantage of the Enhanced Coverage Option on their crop insurance. NAU Country Vice President of Farm Services Rich Morrison says higher commodity prices mean farmers have something worth protecting. “One year ago, if we had this policy I probably won’t have been too excited. With the higher price commodities, this can act like a put option.” Morrison explains. “If prices were to drop 10 percent and you have a crop, you’ll get a payment. If there’s enough acres of both corn and soybeans, that could happen.” Time is running out with the deadline to make changes to your crop insurance program on March 15. Contact your crop insurance agent for more details.
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