What’s Hot, What’s Not in the Markets
In this week's edition of What's Hot, What's Not in the Markets, Advance Trading risk management advisor Tommy Grisafi looks at planting progress, crude oil values and the impact of prevented plant.
Articles tagged under: Prevented plant
PP Acres Top 19 Million
Nationwide, farmers filed prevented plant claims on 19.1 million acres for indemnities of $4.3 billion. Risk Management Agency Administrator Martin Barbree spoke to the Crop Insurance Industry Convention, saying South Dakota had the largest number of PP acres at 3.9…
Acreage Decisions in Flux
Corn and soybean acreage is expected to increase in the year ahead. NAU Country Vice President of Farm Services Rich Morrison says major changes could still happen. "Bean acres I expect to be at least 10 million (acres) higher and…
Record Prevented Plant Acreage
The Farm Service Agency is estimating 2019 prevented plant acreage at a record 19.6 million acres. That compares to the previous record of just under 11 million acres in 2011. South Dakota leads the nation with nearly 4 million acres…
‘Top-Up’ Payments to be Paid in October
Farmers who filed a prevented plant claim will automatically receive a ‘top-up’ payment. A 15 percent plussed up payment will be made to farmers with Yield Protection and Revenue Protection with the Harvest Price Option. Those without the Harvest Price…
Farm Income May Look Very Different From Last Year
AgCountry Farm Credit Services Senior Tax Specialist Ashley Kieke says weather challenges most likely changed the amount of crop insurance received. The new Market Facilitation Program payment is also unique. "In 2018, the signup period for MFP straddled 2018 and…
Grain Trade Remains Unsure of Planted Acres
Uncertainty continues to surround the grain markets, with many traders unsure of planted acres. Progressive Ag Marketing market analyst Brian Strommen says the planted acres may not be known until fall. "We'll see what happens in about five weeks." Crop…
PP Claims Expected to Exceed $1 Billion
According to USDA Undersecretary for Farm Production and Conservation Bill Northey, numerous prevented plant claims have already been paid out. "I think those claims have climbed over the $100 million mark so far and we expect that probably to pass…
Farmers Seek Cover Crop Seed
With an okay from the USDA to hay and graze cover crops on prevented plant acres starting September 1, farmers and ranchers are securing cover crop seed. Some farmers and ranchers started planning for this announcement two weeks ago. Now,…
USDA Outlines MFP and PP Rules
Farmers must plant a crop to be eligible for Market Facilitation Program payments. USDA issued a statement on trade assistance and disaster programs, saying USDA has no legal authority to make MFP payments for acreage that is not planted. Farmers…
