TABLE OF CONTENTS. Auburn Agency. Farmer s Almanac

Transcription

1 Multi - Peril MPCI Insured Responsibilities (1) Added Land, Ground out of CRP, & New Breaking (2) Pasture, Rangeland, & Forage (PRF) (3) Precision Farming (4) Indemnity Examples (5-6) Options, Units, Endorsements Actual Production History (APH) (7) Unit Definitions (8) Level by Practice (LP) (9) High-Risk Alternate Coverage Option (HR-ACE) (10) Yield Adjustment (YA) (11) Yield Exclusion (YE) (12) Trend-Adjusted Yield (TA) (13) Yield Cup (YC) (14) Auburn Agency 2018 Crop Insurance Farmer s Almanac TABLE OF CONTENTS Claims Information Dates & Claim Precautions (15) Record Retention (16) Replant (17) Prevented Planting (18-20) 1 st -Crop / 2 nd -Crop (21) Good-to-Know Plant Dates (22) Production Cost Insurance (23-24) Yield Exclusion Years (25-27) T-Yields (Transitional Yields) (28-29) Historical Revenue Protection Prices (30) Cover Crop Termination Zones (31) Common Acronyms (32)

2 INSURED RESPONSIBILITY All POLICY LEVEL changes must be done before the sales closing date. If death within the policy (entity or SBI) occurs in the current crop year, the following circumstances will affect how to proceed: 1. If death occurs more than 30 days before the sales closing date: a. The policy will automatically be canceled. b. A new application must be submitted. 2. If death occurs less than 30 days before the sales closing date: a. The policy will remain in effect through the current crop year. b. The policy will be automatically canceled for the following crop year. c. Indemnity and premium will be paid to and by such persons who are entitled. 3. If notice was not provided timely: a. Cancellation will retroactively apply to date that notice should have been provided. b. Any payments made after the retroactive cancellation date must be returned. In the case of any circumstance which requires a policy change or adjustment, contact your agent as soon as possible. Your agent will help you determine the steps needed to remain compliant. Please notify your agent in the case of the following policy changes: Name Change John Smith John Smith Revocable Trust John Smith Smith Family Farms Entity Change Individual Spousal Spousal Trust Individual LLC Change in Identification Number SSN EIN Timely FSA Documentation * Reports must reflect the date Required when there is: of July 15 th, or earlier, of the Name Change current crop year. Entity Change ** Report must be filed with Share Changes* the FSA under the correcty entity name on or before the Planted Acres* premium billing date of the Conservation Compliance policy to receive the proper Documentation subsidy. (AD-1026)**

3 ADDED LAND, GROUND OUT OF CRP, & NEW BREAKING If you are going to break out pasture/grassland and farm it for the first time, notify your agent as there must be a special agreement from the RMA to insure this ground. You must provide us with the Farm Serial Number, tract number, section-township-range, and any other supporting information. Only with a special agreement from RMA does the ground become insurable. There are three types of added land and they are defined as follows: 1. Land farmed before by someone else, but new to you: Does not require a written agreement Will need to sign a form additional to an acreage report provided by your agent If the acreage being added as a new BU or separate OU(s) is Less than 2,000 acres Greater than or equal to 2,000 acres 2. Land coming out of CRP The APH database will be established using The higher of the following: (1) Applicable variable T-yield; or (2) SA T-Yield Applicable variable T-Yield Does not require a written agreement 100% of T-Yield for the first year planted Please contact your agent if you have any questions or need clarification on any of these topics. 3. New Breaking Ground - Pasture/Grass Requires a written agreement by March 15 th, or it is uninsurable. 80% of T-Yield for the first year planted 4. Native Sod Acreage that has never been tilled. Cannot confirm that ground has ever been tilled for the production of an annual crop. If the acreage meets the above requirements and was tilled or planted after February 7 th, 2014 it is considered native sod. If the acreage was tilled prior to February 7 th, it is not subject to a reduction in benefits. For the first four crop years of planting, these acres will be subject to a reduction of benefits - 65% of T- Yield and 50% less in premium subsidy.

4 PASTURE, RANGELAND, & FORAGE Overview PRF is a subsidized risk policy for farmers and ranchers who rely on pasture, rangeland, and forage for haying and/or grazing. It offers coverage for a significant reduction of the rainfall index amount in a geographic area, or grid, containing the insured s property. The policy is based on the experience of each grid to determine indemnities rather than individual farms or ranches. It pays the insured in the event a grid s accumulated index is below the insured s trigger grid index (coverage level multiplied by the expected rainfall in within the grid index) for the period of insurance. This coverage is offered for landlords and tenants, as well as owner/operators. Rainfall Index Methodology The Rainfall Index is based on the National Oceanic and Atmospheric Administration (NOAA) rainfall data in 17x17 mile grids. At least two 2-month intervals must be selected. Losses are based on the actual rainfall in the grid and how it differs from normal rainfall within the grid and index interval(s) you selected. PRF coverage is for a single peril: lack of rain. Coverage Levels Levels of coverage: 70, 75, 80, 85, or 90%. Premium rates are set in dollars per one-hundred dollars of protection. Rainfall Example At the end of the insurance period, the FCIC issues a final grid index for the insureds grids. A payment is made only if the final grid index for the insured is less than the trigger grid index, regardless of the individual s precipitation in that index interval. So, if the final grid index is 60 and the trigger grid index selected was 85%, the indemnity is calculated as follows, assuming the insured has 100% share in the acreage: Payment Calculator Factor (Trigger Grid Index Final Grid Index) / Trigger Grid Index (85-60) / 85 =.294 Payment Factor Indemnity Payment Payment Calculation Factor x Policy Protection per Unit.294 x $450 (Factor * Policy Guarantee) = $132 per Acre Related Articles: RMA Fact Sheet - PRF

5 PRECISION FARMING Precision Farming Program: 1. Simplified reporting process 2. Captures planting information on precision farming equipment and provides to Auburn Agency. 3. Data is processed and information reported with only the review and signature required. 4. Map-based reporting system ensures the most accurate reporting possible and also serves as more comprehensive records of your operation. They can be customized to aid you in reporting to your local FSA office. 5. Harvest data provided to an assigned adjuster is considered verified production when precision planting data is used for reporting. 6. Provides the benefit of potential cost savings. Harvest Information: As harvest time nears, an adjuster will contact the producer to establish a time frame for providing the data for processing. A precision farming inspection will be opened for processing the production data, which ensures timely notification of a loss if it is determined that a claim exists. All precision harvest data must be turned in no later than January 15 th. If this deadline is not met, the producer will be required to report production on a traditional basis, leaving the compliance burden on the producer. Related Articles: Auburn Agency Webpage - Precision Farming Deadlines: Planting Information: Precision planting data will be uploaded to Auburn Agency for processing not later than 20 days before the data receipt deadline; June 25 th. Planting data can be utilized even if harvest data won t be collected via precision methods.

6 2012 CORN PRICE INCREASE COMPARISON 2012 Market Increased from $5.68(Spring Market Price SMP) to $7.50(Harvest Market Price HMP) CORN APH = 157 COVERAGE LEVEL = 85% 100 ACRES 100% SHARE Revenue Protection Indemnity Yield Protection Indemnity Actual Yield per Acre = 48bu Base Revenue Guarantee 157(APH) *.85(Coverage Level) = bu (Guarantee) bu (Guarantee) * $5.68(SMP/Base Price) = $ Base Guarantee Final Revenue Guarantee bu (Guarantee) * $7.50(HMP higher of SMP & HMP) = $1, Final Guarantee Actual Revenue 48bu (Actual Yield) * $7.50(HMP) = $360/Acre Actual Yield per Acre = 48bu Yield Guarantee 157(APH) * 0.85(Coverage Level) = bu Guarantee Bushel Lost per Acre bu (Guarantee) - 48(Actual Yield) = bu/acre Loss Payment * $5.68(SMP/Base Price) = $485.36/Acre TOTAL LOSS ON UNIT 100 Acres * $ = $48, Revenue Loss $1,000.88(Final Guarantee) - $360.00(Actual) = $640.88/Acre TOTAL LOSS ON UNIT 100 Acres * $ = $64,088.00

7 2014 CORN PRICE DECREASE COMPARISON 2014 Market Decreased from $4.62(Spring Market Price SMP) to $3.49(Harvest Market Price HMP) CORN APH = 157 COVERAGE LEVEL = 85% 100 ACRES 100% SHARE Revenue Protection Indemnity Yield Protection Indemnity Actual Yield per Acre = 160bu Base Revenue Guarantee 157(APH) *.85(Coverage Level) = bu (Guarantee) bu (Guarantee) * $4.62(SMP/Base Price) = $ Base Guarantee Final Revenue Guarantee bu (Guarantee) * $4.62(SMP higher of SMP & HMP) = $ Final Guarantee Actual Revenue 160bu (Actual Yield) * $3.49(HMP) = $558.40/Acre Revenue Loss $616.54(Final Guarantee) - $558.40(Actual) = $58.14/Acre Actual Yield per Acre = 160bu Yield Base Revenue Guarantee 157(APH) * 0.85(Coverage Level) = bu Guarantee bu(Gurarntee) * $4.62(SMP/Base Price) = $ Base Revenue Actual Revenue per Acre 160bu (Actual) * $3.49 = $ No Loss 160bu Actual Yield exceeds bu Guarantee TOTAL LOSS ON UNIT None NOTE: Producer must have yield loss to have indemnity. TOTAL LOSS ON UNIT 100 Acres * $58.14 = $5, NOTE: Producer does not have to experience a yield loss if the final price decreases.

8 ACTUAL PRODUCTION HISTORY (APH) APH = Four years of actual production building up to 10 years. The APH is the simple average of the number of years reported. The producer must report ALL production The 10-year database may stretch as far back as necessary to develop 10 years of actual history. If crop rotation is a factor, it could take 20, or more, years to complete a 10-year database. If the producer does not have the records to make up at least four years, the APH will be calculated using a combination of Actual Yields and county T-Yields (or a factor of). If in a single year, a producer has an actual yield that is less than 60% of the county T-Yield, a plugged yield may be used to stabilize the APH if Yield Adjustment (YA) is selected. An optional 10% Yield Cup can be placed under the APH from year-to-year to help stabilize the APH. The continuity of APH from year-to-year cannot be broken without significant yield penalty and loss of unit structure. In order for an individual to utilize the production history that is already associated with a unit, the individual must have SBI interest or share within the unit/entity in the current year to use the established entity s records if they should take over these acres. APH Transfer Example: A son that has helped his father farm is now ready to take over the operation. There are no previous shares and no other insurable interest in the county/crop. Transfer of APH requires the son to have participated in the operation, including; aiding in management decisions and performing labor to produce the crop OR have had a share of the crop upon transfer of acres.

9 UNIT DEFINITIONS Basic Unit (BU) By Crop By County By Share Optional Unit (OU) By Crop By County By Share By Practice By Legal Description (Some areas by FSN) Enterprise Unit (EU) By crop in each county Enterprise Unit by Practice (EP) Elect separate enterprise units for irrigated or non-irrigated acreage Requires EU 20/20 qualification Whole Farm Unit (WU) Everything farmed in a county regardless of crop EU Qualification At least two sections within the county must have planted acres that constitute at least the lesser of 20 acres or 20% of the insured crop acreage in the Enterprise Unit(20/20 Rule). Enterprise Units must be elected by the sales closing date of March 15 th. Related Articles: RMA FAQ - Enterprise Units by Practice Unit structure, endorsements, and all other policy changes must be completed with your agent by the SCD of March 15 th.

10 LEVEL BY PRACTICE (LP) Level by Practice Level by Practice (LP) allows producers to elect separate coverage levels for irrigated & non-irrigated practices; but not separate units. Note: Claims & guarantees will still be worked off of the underlying unit structure. This endorsement only separates coverage levels, not payable lines. Example: Your irrigated crops could cause your non-irrigated crops to grow out of a loss. Elections must be made by the sales closing date of March 15 th. Related Articles: RMA FAQ - Level by Practice

11 HIGH-RISK ALTERNATE COVERAGE ENDORSEMENT High-Risk Alternate Coverage Endorsement - HR-ACE Allows producers to separate their high-risk acres from non-high-risk acres on separate coverage levels. Coverage of high-risk acres must be insured at a lower level than the regular-risk acres. Elections must be made by the sales closing date of March 15 th. Related Articles: RMA FAQ - HR-ACE

12 YIELD ADJUSTMENT (YA) Allows producers to replace an actual yield if the producer s actual yield is lower than 60% of the county s T-Yield Must be elected by the sales closing date of March 15 th. Related Articles: Auburn Agency Webpage - T-Yields These charts are downloadable & printable Farm Doc Daily - Use of YA, YE, and TA in Determining Yield for Crop Insurance RMA FAQ - Actual Production History (APH) Yield Exclusion

13 YIELD EXCLUSION (YE) Allows producers to exclude a yield from their APH if the respective county s average yield is at least 50% below the previous consecutive crop year s average yield determined by county, crop, & practice. Must be elected by the sales closing date of March 15 th. Related Articles: Auburn Agency s Webpage - Yield Exclusion These charts are downloadable & printable Farm Doc Daily - Use of YA, YE, and TA in Determining Yield for Crop Insurance RMA FAQ - Actual Production History (APH) Yield Exclusion

14 TREND-ADJUSTED YIELD (TA) Trend-Adjusted Yields were created to allow growers to revise their past yields upwards to reflect long-term technology trends. 1 Allows producers to use Trend-Adjusted APH rather than historical average APH Trend-Adjusted Process: Must be elected by the sales closing date of March 15 th. Each county will have a Trend Yield Factor based on historical county yields as reported by NASS. Historical yields will be adjusted up based on Trend Yield Factor. Trend-Adjusted APH will almost always be higher than the currently used APH. Related Articles: Auburn Agency s Webpage - TA Yield Farm Doc Daily - Use of YA, YE, and TA in Determining Yield for Crop Insurance Iowa State University Extension - Trend-Adjusted Actual Production History (APH) 1

15 YIELD CUP (YC) Applies a cup to the APH that does not allow approved yields to dip below 10% of the prior yield. Helps stabilize the APH from year-to-year. Producer can decide to opt-out of the election by PRD.

16 IMPORTANT CLAIM INFORMATION Important Claim Dates *Date subject to change at March 1 st filing - Contact your agent with questions. Adjuster Consent Required: In order to receive an indemnity, you must have an adjuster s consent and/or release PRIOR to the following: Replant Date* June 1 st - October 15 th June 1 st - November 15 th December 10 th Destroying crop in case of First Crop - Second Crop Silage/Chopping Grinding grain from on-farm storage Event Wind/Green Snap Coverage Hail Coverage Period End of Crop Insurance Cycle - Revenue Loss Claim Deadline Grain Quality Precautions If Aflatoxin, another Mycotoxin, or mold is suspected, you MUST contact your agent before the grain is: Harvested Put into storage Delivered for sale Your insurance provider will: Take samples for testing Submit the samples to an approved facility for grading Because Toxins can worsen in storage, grain quality losses are only insurable if: The grain is pulled by an adjuster and tested in an approved facility BEFORE being put into on-farm or commercial storage. Losses related to toxins are NOT covered under MPCI if: Losses are due to increased toxin levels while in farm storage Losses cannot be documented because proper testing was not completed.

17 RECORD RETENTION Record/Documentation Examples Soft Records* Farm Scale Tickets Elevator Scale Tickets Self-Measured Bins Hard Records Bin measurements completed by an adjuster or the FSA Elevator settlement sheets Grain cart scale tickets Certified Scale Tickets Precision Ag records for both planting and harvest** RMA Requirements to Note: To finalize a claim, all production for each unit, regardless of share, must be reported. Your agent must have record of not only your share but all shares within the unit via hard record. An agent cannot be involved in the settlement of a claim. However, an agent can educate you about necessary steps. The only person that has the authority to work or settle a claim is the assigned adjuster. *Generally, soft records are used as supporting documentation to separate production among units. Only hard records can be used to finalize a claim. ** Precision Ag records may be used for finalizing a claim only if proper documentation has been completed, provided by your agent, are compliant with the RMA. Compliance Reviews Random Reviews Selected by RMA FSA Spot-Check Review Mandatory Review Claims over $200,000 Conflict of Interest

18 REPLANT Replant Replant is planting only to the like crop or agricultural commodity. To qualify for replant a minimum of 20 acres in the unit, or 20% of the unit must be affected. Note: Destroying a corn crop and following with soybeans is not considered a replant. This is considered First Crop-Second Crop. See Page 21 for Earliest Plant Dates. Self-Certification Replant Inspections Once authorized by the insurance company, Self- Certification Replant Inspections can be used if the affected acres are less than or equal to gross acres (before share) on a unit. Replant payments are determined by provisions for the affected policy and related endorsements. Note: Replant claims must be reported to the agent before the acres are replanted. Simplified Claims Process (SCP) Provided all other SCP requirements are met, MPCI policies with basic (BU), optional (OU), whole farm (WFU), or enterprise units (EU) are eligible. SCP tolerance is based on the dollar amount of the production lost. Therefore, if the insured s crop is insured under the revenue protection plan and the harvest price causes the dollar indemnity to exceed the SCP limit, the claim is still eligible for SCP. All planted acres within the affected unit must be harvested. The production must be sold or placed in commercial storage. Related Articles: RMA FAQ - Replanting and Final Plant Dates RMA FAQ - Double Cropping Revision & Practical to Replant It is imperative you call your agent before replanting, Self- Certified or otherwise. In most instances, the fields must be released by an adjuster and given consent to replant in order to receive a proper indemnity.

19 PREVENTED PLANTING (PP) Corn-Intended Options After Final Plant Date Corn is eligible for prevented planting after the final plant date for the respective county/crop. 1. Left Idle - If the acres are deemed eligible*, the producer will receive 100% of the PP indemnity if acres are left idle APH is not impacted by PP; if there are planted acres within the field, a weighted average will determine the APH nd Crop - On a corn-intended field deemed PP, a 2 nd crop may be planted after the late plant period The crop must be insured. 35% of the corn PP indemnity will be paid, 35% of the premium will be due. APH will be determined using 60% of the approved yield within the producer s database. If a 2 nd crop is planted before the late plant period, PP may not be declared for the original crop, with no premium or indemnity due. The 2 nd crop must be insured if it is on the producer s policy. 3. Cover Crop** - Once deemed PP, a cover crop may be planted and the producer will receive 100% of the PP indemnity. The cover crop acres may not be hayed or grazed prior to Nov. 1 st, or otherwise harvested for grain. 4. Late Planting - Late planting is available after the final plant date for the respective county/crop, there will be a 1% indemnity reduction each day after the late plant period until the crop is planted. Example: Soybeans planted 6 days after the late plant period would have a 6% indemnity reduction. *Your agent can work through the appropriate guidelines to determine eligibility. Basic Equation: Subtract planted acres from eligible acres, once zero acres remain, the acres roll to another available crop. **NRCS approved per respective county guidelines. Related Articles RMA Fact Sheet - PP Insurance Provisions Flood RMA Fact Sheet - PP Insurance Provisions Drought Prevent Plant Eligibility Guidelines on Next Page

20 Prevented Planting Claim Eligibility PREVENTED PLANTING ELIGIBILITY 1. PP can only be claimed with an insurable cause of loss. 2. The maximum number of acres that can be declared as PP cannot exceed the amount of acres certified/reported to that crop within the last 4 years /20 Guidelines must be met A unit with 100 or more acres must have at least 20 acres prevented. If the unit has less than 100 acres, the PP acres must equal a minimum of 20% of the unit s total acres. 4. The insured must report their intent to not plant to their agent within 72 hours of making that decision. Your PP acres must be certified as PP with the FSA.

21 PREVENTED PLANTING (PP)

22 FIRST CROP / SECOND CROP Available Options 1. No Second Crop - If an acreage planted with corn suffers and insurable loss causing the crop to fail, and the acreage is released by an adjuster, a second crop does not need to be planted to receive 100% indemnity on the first, failed crop. 2. Plant an Uninsured Second Crop - If an acreage planted with corn suffers an insurable loss causing the crop to fail, and the acreage is released by an adjuster, a second crop can be planted after the late plant period. A producer can decide to not insure the second crop if the producer does not have a policy for the second crop or the second crop is uninsurable per the FCIC. Note: even though the second crop s acres are not insured, the uninsured acres are still required to be reported as such on the acreage report. 3. Plant an Insured Second Crop - If an acreage planted with corn suffers an insurable loss causing the crop to fail, and the acreage is released by an adjuster, an insured second crop can be planted after the late plant period. The following conditions apply: a. After the planted second crop is insured, the corn indemnity is limited to 35% of the insurable loss with 35% of the corn premium due. b. If the insured second crop does not sustain an insurable loss, the producer will receive the remaining 65% of the indemnity and be liable for the remaining 65% of the corn premium. c. If the insured second crop does sustain an insurable loss, a producer can: i. Elect to waive the indemnity on the second crop and receive the remaining 65% of the corn indemnity. The producer will be liable for the remaining 65% of the corn premium along with the premium of the second crop. ii. Elect to keep 35% of the corn indemnity and receive 100% indemnity of the second crop. The producer will be liable for 35% of the corn premium and 100% of the second crop premium. The first crop will be released by an adjuster with the AIP when it has been deemed not practical to replant by the AIP or after the late plant period. The producer will need to declare first crop/second crop intentions.

23 PLANT DATES Earliest Plant Date Corn Soybeans Wheat Final Plant Date Late Plant Period Earliest Plant Date Arkansas 3/11 4/25 5/10 4/16 Final Plant Date Late Plant Period NFAC 6/15 7/05 FAC 6/25 7/15 Final Plant Date Late Plant Period 11/30 12/05 Iowa 4/11 5/31 6/25 4/21 6/15 7/10 10/20 11/04 Kansas 4/05 5/25 6/14 4/26 6/15 7/10 10/31 11/15 Missouri 4/05 5/25 6/14 4/20 6/20 7/15 10/31 11/15 Nebraska 4/10 5/25 6/14 4/25 6/10 7/05 10/15 10/30

24 PRODUCTION COST INSURANCE What is PCI? Farming is a high-risk business, and often volatile price movements in seed, chemical, fertilizer, and commodities make it difficult to predict farm revenue from year to year. Production Cost Insurance alleviates these concerns by providing a predictable annual revenue stream above defined, direct input costs. PCI is a reliable, predictable risk management tool that not only underpins the cost of production in challenging growing seasons but one that promotes best farm management practices each and every day, across virtually all aspects of the operation. When adversity strikes at any phase of the crop production cycle, PCI supports producer confidence and empowers them to make optimal management and agronomy decisions. How it Works Basic PCI coverage is calculated by averaging the cost of seed, chemical, and fertilizer based on the five-year financial history of your farm. An additional 40% may be added to cover unexpected increases in costs. PCI covers the ACTUAL costs of fertilizer, seed, and chemical. Based on the analysis of financial records, producers may have the option to choose an enhanced coverage level in $25 increments up to a maximum of $800 per acre to cover margins in excess of variable inputs. If input costs surge higher over the growing season, PCI coverage may increase by exactly the same amount, dollar per dollar, with no increase in premium; therefore, the margin of risk always remains the same. PCI is written on a whole-farm basis, so virtually any crop can be insured. A PCI policy can stand alone or be combined with other crop insurance plans. What s Included? Three major inputs (fertilizer, seed, and chemical) are covered, plus a specific amount of revenue per acre. As input costs rise over the crop year, coverage may increase as well. Farmers often use this insurance as collateral with major banks and borrow against it.

25 PRODUCTION COST INSURANCE PCI Example A farmer s financial history indicates his variable input costs averaged $300 per acre. This amount is automatically covered by his basic PCI policy. He expects his fixed costs for the crop year to total $350 per acre, and he chooses an enhanced PCI coverage level of $300 per acre. His total PCI coverage is $600 per acre, and his PCI policy ensured $6 million of insured revenue for his 10,000-acre farm. During the course of the growing season, insects infest the farmer s crop. He decides to spend an additional $25 per acre on insecticide, pushing his input costs to $325 per acre. As a result, his PCI coverage may increase to $625 per acre $6.25 million total revenue without an increase in premium. Related Articles Auburn Agency Webpage - PCI ARMtech s PCI Brochure Real-Life Experience This is an article about a client out of Ohio who has used this policy has an effective management tool Global Ag Risk Solutions - FAQ s Global Ag Risk Solutions is a Canadian company that services the PCI policies. Due to lower than expected yields, the farmer sells his crop for only $5.25 million. His Production Cost Insurance policy pays the $1,000,000 necessary to meet his insured revenue of $6.25 million.

26 YIELD EXCLUSION YEARS NEBRASKA NON IRR BUFFALO BUTLER CASS DAWSON GAGE JEFFERSON JOHNSON LANCASTER NEMAHA OTOE Corn Soybeans IRR BUFFALO BUTLER CASS DAWSON GAGE JEFFERSON JOHNSON LANCASTER NEMAHA OTOE Corn Soybeans NON IRR PAWNEE RICHARDSON SALINE SARPY SAUNDERS SEWARD SHERIDAN WASHINGTON YORK Corn Soybeans THRU IRR PAWNEE RICHARDSON SALINE SARPY SAUNDERS SEWARD SHERIDAN WASHINGTON YORK Corn - Soybeans

27 YIELD EXCLUSION YEARS MISSOURI NON IRR ANDREW ATCHISON DE KALB HARRISON HOLT NODAWAY PUTNAM Corn Soybeans IRR ANDREW ATCHISON DE KALB HARRISON HOLT NODAWAY PUTNAM Corn Soybeans IOWA NON IRR ADAIR ADAMS CASS CEDAR FREMONT GUTHRIE HARRISON MADISON MILLS MONONA MONTGOMERY PAGE UNION Corn Soybeans IRR ADAIR ADAMS CASS CEDAR FREMONT GUTHRIE HARRISON MADISON MILLS MONONA MONTGOMERY PAGE UNION Corn Soybeans

28 YIELD EXCLUSION YEARS KANSAS NON IRR BROWN DONIPHAN MARSHALL NEMAHA NORTON Corn Soybeans IRR BROWN DONIPHAN MARSHALL NEMAHA NORTON Corn Soybeans ARKANSAS NON IRR PERRY YELL Corn Soybeans NFAC Soybeans FAC IRR PERRY YELL Corn Soybeans NFAC Soybeans FAC Rice Long Grain

29 T-YIELDS NEBRASKA NON IRR BUFFALO BUTLER CASS DAWSON GAGE JEFFERSON JOHNSON LANCASTER NEMAHA OTOE CORN SOYBEANS WHEAT IRR BUFFALO BUTLER CASS DAWSON GAGE JEFFERSON JOHNSON LANCASTER NEMAHA OTOE CORN SOYBEANS WHEAT NON IRR PAWNEE RICHARDSON SALINE SARPY SAUNDERS SEWARD SHERIDAN WASHINGTON YORK CORN SOYBEANS WHEAT IRR PAWNEE RICHARDSON SALINE SARPY SAUNDERS SEWARD SHERIDAN WASHINGTON YORK CORN SOYBEANS WHEAT MISSOURI NON IRR ANDREW ATCHISON DE KALB HARRISON HOLT NODAWAY PUTNAM CORN SOYBEANS WHEAT IRR ANDREW ATCHISON DE KALB HARRISON HOLT NODAWAY PUTNAM CORN SOYBEANS WHEAT

30 T-YIELDS IOWA NON IRR ADAIR ADAMS CASS CEDAR FREMONT GUTHRIE HARRISON MADISON MILLS MONONA MONTGOMERY PAGE UNION CORN SOYBEANS WHEAT IRR ADAIR ADAMS CASS CEDAR FREMONT GUTHRIE HARRISON MADISON MILLS MONONA MONTGOMERY PAGE UNION CORN SOYBEANS WHEAT KANSAS NON IRR BROWN DONIPHAN MARSHALL NEMAHA NORTON CORN SOYBEANS WHEAT IRR BROWN DONIPHAN MARSHALL NEMAHA NORTON CORN SOYBEANS WHEAT ARKANSAS NON IRR PERRY YELL CORN SOYBEANS NFAC SOYBEANS FAC WHEAT RICE LONG GRAIN - - IRR PERRY YELL CORN SOYBEANS NFAC SOYBEANS FAC WHEAT RICE LONG GRAIN 5,643 lbs 6,784 lbs

31 YEAR 45-YEAR HISTORICAL CORN & SOYBEAN CME DECEMBER CORN REVENUE PROTECTION PRICES 1 The monthly average price of new crop futures sets the RP and YP coverages. 2 The monthly average price of nearby futures settles the RP and RP-HPE claims. If higher, the harvest price is then used to set the coverage in RP. 3 Percent price change is based on Revenue Protection strike and settlement prices. CME NOVEMBER SOYBEANS (SMP) (HMP) PERCENT (SMP) (HMP) PERCENT (SMP) (HMP) PERCENT BASE PRICE 1 HARV. PRICE 2 PRICE CHANGE 3 YEAR BASE PRICE 1 HARV. PRICE 2 PRICE CHANGE 3 YEAR BASE PRICE 1 HARV. PRICE 2 PRICE CHANGE 3 YEAR BASE PRICE 1 HARV. PRICE 2 (SMP) (HMP) PERCENT PRICE CHANGE $ 3.96 $ 3.49 (11.9%) 1995 $ 2.57 $ % 2017 $ $ 9.75 (4.3%) 1995 $ 5.85 $ % 2016 $ 3.86 $ 3.49 (9.6%) 1994 $ 2.68 $ 2.16 (19.5%) 2016 $ 8.85 $ % 1994 $ 6.48 $ 5.41 (16.5%) 2015 $ 4.15 $ 3.83 (7.7%) 1993 $ 2.40 $ % 2015 $ 9.73 $ 8.91 (8.4%) 1993 $ 5.86 $ % 2014 $ 4.62 $ 3.49 (24.5%) 1992 $ 2.70 $ 2.09 (22.7%) 2014 $ $ 9.65 (15.1%) 1992 $ 6.06 $ 5.37 (11.4%) 2013 $ 5.65 $ 4.39 (22.3%) 1991 $ 2.59 $ 2.51 (3.1%) 2013 $ $ % 1991 $ 6.15 $ 5.60 (8.9%) 2012 $ 5.68 $ % 1990 $ 2.47 $ 2.30 (7.1%) 2012 $ $ % 1990 $ 5.95 $ % 2011 $ 6.01 $ % 1989 $ 2.71 $ 2.39 (11.7%) 2011 $ $ (10.0%) 1989 $ 7.24 $ 5.62 (22.4%) 2010 $ 3.99 $ % 1988 $ 2.17 $ % 2010 $ 9.23 $ % 1988 $ 6.43 $ % 2009 $ 4.04 $ 3.72 (7.9%) 1987 $ 1.69 $ % 2009 $ 8.80 $ % 1987 $ 4.71 $ % 2008 $ 5.40 $ 4.13 (23.5%) 1986 $ 2.11 $ 1.69 (19.5%) 2008 $ $ 9.22 (31.0%) 1986 $ 5.15 $ 4.82 (6.6%) 2007 $ 4.06 $ 3.58 (11.8%) 1985 $ 2.66 $ 2.23 (16.1%) 2007 $ 8.09 $ % 1985 $ 6.06 $ 5.05 (16.7%) 2006 $ 2.59 $ % 1984 $ 2.86 $ 2.78 (2.6%) 2006 $ 6.18 $ 5.93 (4.0%) 1984 $ 7.11 $ 6.14 (13.6%) 2005 $ 2.32 $ 2.02 (12.9%) 1983 $ 2.88 $ % 2005 $ 5.53 $ % 1983 $ 6.33 $ % 2004 $ 2.83 $ 2.05 (27.6%) 1982 $ 3.00 $ 2.20 (26.8%) 2004 $ 6.72 $ 5.26 (21.7%) 1982 $ 6.76 $ 5.32 (21.2%) 2003 $ 2.42 $ 2.26 (6.6%) 1981 $ 3.77 $ 2.91 (22.8%) 2003 $ 5.26 $ % 1981 $ 8.26 $ 6.56 (20.6%) 2002 $ 2.32 $ % 1980 $ 3.12 $ % 2002 $ 4.50 $ % 1980 $ 7.29 $ % 2001 $ 2.46 $ 2.08 (15.3%) 1979 $ 2.59 $ % 2001 $ 4.67 $ 4.37 (6.4%) 1979 $ 6.97 $ 6.70 (4.0%) 2000 $ 2.51 $ 2.04 (18.7%) 1978 $ 2.27 $ % 2000 $ 5.32 $ 4.72 (11.2%) 1978 $ 5.76 $ % 1999 $ 2.40 $ 2.01 (16.1%) 1977 $ 2.73 $ 2.09 (23.7%) 1999 $ 5.11 $ 4.85 (5.1%) 1977 $ 6.96 $ 5.31 (23.8%) 1998 $ 2.84 $ 2.19 (23.0%) 1976 $ 2.72 $ 2.65 (2.4%) 1998 $ 6.64 $ 5.46 (17.7%) 1976 $ 5.08 $ % 1997 $ 2.73 $ % 1975 $ 2.72 $ % 1997 $ 6.97 $ 6.82 (2.1%) 1975 $ 5.79 $ 5.25 (9.4%) 1996 $ 3.08 $ 2.84 (7.9%) 1974 $ 2.89 $ % 1996 $ 7.23 $ 7.07 (2.2%) 1974 $ 6.30 $ %

32 COVER CROP TERMINATION

33 COMMON ACRONYMS/TERMS AIP Approved Insurance Provider HR-ACE High Risk Alternate Coverage Option RMA-RO RMA Regional Office AOI Assignment of Indemnity IRR Irrigated RP Revenue Protection APH API AR ARD BFR BU CC CLU COL CPA EP EU FAC FM FN FPD FSA FSN FTF GIS GPS GSI HELC HMP Actual Production History Apiculture Pilot Program Acreage Report Acreage Reporting Date Beginning Farmer Rancher Basic Unit Continuous Cropping Common Land Unit Cause of Loss Contract Price Addendum Enterprise Unit by Practice Enterprise Unit Following Another Crop Foreign Matter Farm Number Final Plant Date Farm Service Agency Farm Serial Number Farm, Tract, Field Geographic Information Systems Global Positioning System Growing Season Inspection Highly Erodible Land Conservation Harvest Market Price LP LP LPD MBAR MP MPCI NB NFAC NI NOL NP NS OU PC PCI POA POD PP PPW PRD PRF PTC PW RMA Late Planting Level by Practice Late Planting Date Map Based Acreage Report Margin Protection Multi Peril Crop Insurance New Breaking Not Following Another Crop Non-Irrigated Notice of Loss New Producer Native Sod Optional Unit Production Certification Production Cost Insurance Power of Attorney Piece of Dirt Prevented Planting Producer Planting Worksheet Production Reporting Date Pasture, Rangeland, & Forage Production to Count Production Worksheet Risk Management Agency RPHPE RPLE RY SA-T SBI SCD SCO SEC SF SMP SOI TA TW T-Yield UH USDA WA WFRP WFU YA YE YP Revenue Protection Harvest Price Exclusion Revenue Plan Loss Estimator Reinsurance Year Simple Average Transitional Yield Substantial Beneficial Interest Sales Closing Date Supplemental Coverage Option Section Summer Fallow Spring Market Price Schedule of Insurance Trend Adjustment Test Weight Transitional Yield Unharvest United States Department of Agriculture Written Agreement Whole Farm Revenue Protection Whole Farm Unit Yield Adjustment Yield Exclusion Yield Protection

34 2018 Precision PRD: 1/15/2018 Traditional PRD: 2/15/2018 *When an insurance deadline falls on a weekend or holiday, the next business day applies. JANUARY FEBRUARY S M T W T F S S M T W T F S aacropsupport@aacrop.com (402) Auburn Agency Crop Insurance Farmer s Almanac AR Spring SCD: 2/28/2018 IA, KS, MO, NE Spring SCD: 3/15/2018 Production Hail SCD: 6/01/2018 Precision Raw Data Due: 6/25/2018 Spring A/R Due: 7/15/2018 Fall Crop SCD: 9/30/2018 PRF SCD & Fall A/R Due: 11/15/2018 MARCH APRIL S M T W T F S S M T W T F S MAY JUNE S M T W T F S S M T W T F S JULY AUGUST S M T W T F S S M T W T F S SEPTEMBER OCTOBER S M T W T F S S M T W T F S NOVEMBER DECEMBER S M T W T F S S M T W T F S