February is when reference prices are set for crop insurance, so it’s a very important time of year. Deadlines are approaching in just over a month, so it’s important to pay attention now and not let it sneak up on you. Pat Swanson, District 9 director of the Iowa Soybean Association, said this year’s price is projected to be lower than last year, which has its pros and cons.
Even though we were able to produce a great crop despite the continued dryness, that doesn’t mean insurance is now suddenly less important or useful. Swanson said farmers should still look at maintaining their crop insurance levels or even raise them.
For more information, visit iasoybeans.com.