Canola Crop Insurance Written Agreements Need to Be in ASAP- Bambi SidwellFri, 01 Aug 2014 18:07:28 CDT
Canola growers should be planning ahead in getting their crop insurance for the 2015 crop. Bambi Sidwell of Sidwell Insurance said the deadline for canola crop insurance is August 31th. Radio Oklahoma Ag Network Farm Director Ron Hays talked with Sidwell at this week's Canola Conference in Enid about canola crop insurance coverage - you can hear their full conversation by clicking on the LISTEN BAR below.
Going into a new crop year, Sidwell said there are a number of additional approved counties this year
"It is true that if your county was not approved in past years, you may not have to do a written agreement this year," Sidwell said. "But August 31st is upon us and if you are outside one of those approved counties you will want to start the paperwork soon, so you know after the written agreement is approved if you have the proper crop insurance or not for the 2015 crop year."
In June the US Department of Agriculture's Risk Management Agency added five new Oklahoma counties that are now eligible for winter canola crop insurance. This includes Canadian, Comanche, Cotton, Logan and Noble counties. Oklahoma counties already eligible for coverage include Alfalfa, Blaine, Caddo, Custer, Dewey, Garfield, Grant, Kingfisher, Major and Woods counties.
For farmers outside of the approved counties, Sidwell advised growers to get submit their application as soon as possible. Applications are approved by the RMA on a first come, first serve basis.
"From my past experience, getting those in the first of August, we usually have a real quick, at most two week turn around and we are able to know before the beginning of the planting period which is September 10th," Sidwell said. RMA officials told attendees at the Canola Conference that as of that day- they did not have a single Written Application for Canola Insurance sitting on their desks in Oklahoma City. If someone got their application in quickly, it would easily be approved well ahead of the fall planting window.
The longer farmers wait the more applications RMA has to process, which increases their processing time. This can also compounded with other headaches like seed availability.
In submitting a written agreement, Sidwell said farmers are required to have three years of wheat production history in that county, maps, Farm Service Agency producer prints and completed written agreement that will be submitted by crop insurance agent.
The fall of 2013 was very challenging with the government shutdown and many Oklahoma farmers didn't know until December if they were approved for crop insurance for their canola crop. Sidwell said that was outside the timeframe of coverage, so a lot of canola acres did not get planted. This year should go much smoother with five additional counties approved for coverage. Sidwell said all of the t-yields, county averages have been updated for every county.
"That will be important to look at to know what your guarantees will be if you are planting the crop cause they have changed from the 2014 crop year," Sidwell said.
The price of canola is being tracked from July 15 August 15, 2014. Sidwell said as of Tuesday the average price was at .185 per pound, which equates to $9.25 per bushel. She said later on this month they will release a price, which will be the crop insurance guarantee.
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