Some Wheat Producers Have Insurance Options

MSU Wheat Producers

Some producers of winter wheat, such as this grown during the 2013-2014 season at the Mississippi State University R.R. Foil Plant Science Research Center, are eligible for a Supplemental Coverage Option in addition to their crop insurance policies.
(File Photo by MSU Ag Communications/Kat Lawrence)

STARKVILLE, Miss. (Press Release) — Winter wheat producers in five Mississippi counties can add a Supplemental Coverage Option to their crop insurance for 2015.

Growers in Bolivar, Coahoma, Sunflower, Tallahatchie and Washington counties are eligible for the Supplemental Coverage Option that was authorized in the Agricultural Act of 2014.

Depending on whether the producer’s crop insurance coverage is a yield protection or a revenue protection policy, the supplemental coverage option will provide an indemnity payment when yield or market revenue measured at the county level falls below 86 percent of the expected county revenue as determined from county yield histories and futures prices.

Wheat producers in the five eligible counties will need to make decisions about Supplemental Coverage Option participation by Sept. 30, 2014.

Producers are not required to purchase Supplemental Coverage Option insurance. The coverage is not available for acreage enrolled in the Farm Service Agency’s Agricultural Risk Coverage program.

For fall-planted wheat for the 2015 crop year only, a special exemption applies to producers who apply for the Supplemental Coverage Option and later want to participate in the Agricultural Risk Coverage program.

Producers in the five eligible counties who intend to plant winter wheat this fall should contact their crop insurance agents regarding this important decision.

Categories: Local News

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