Replant / Late Plant / Prevented Plant
Mother Nature has once again halted planting & as the calendar nears month number six, farmers are faced with some decisions regarding 2017 planting. Many of you are likely experiencing at least one, if not several of the following scenarios.
Replant - Most replant claims in this part of the country are isolated to a few acres that sit underwater too long. (UNL article on underwater corn here.) To qualify for a replant payment, the lessor of 20 acres or 20% of the unit must be damaged. Payment is based on the spring crop insurance price. 8 bushels for corn & 3 bushels for beans. If your replant claim is less than 50 acres, a self-certified replant claim will make the process very simple.
Late Plant - Our final planting date for corn is May 25. Crop insurance coverage is reduced 1% per day during the late plant period. On irrigated ground, this reduction in guarantee can be a big deal. (185 bu APH planted 5 days late would result in more than 6 bpa of lost coverage or about $24/acre.) For dryland farmers, I’d trade the reduction in coverage for a full profile without blinking. RMA’s final plant dates on dryland corn are a joke in the Western part of the state. We see a lot of phenomenal corn planted June 1.
Prevented Plant - Prevented plant is more complex. The basics. 20 acres or 20% of unit need to be prevented by insurable cause of loss. Maximum acres eligible are acres planted during last 4 years. No income can be earned on pp acres. We have seen changes in coverage for the 2017 insurance year. 55% of guarantee for corn, 60% for other crops in this area. (More info here.)
The devil is in the details. Contact your agent if you are potentially faced with any of these scenarios. Be proactive!