Agricultural & Resource Economics
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Item Report on Outreach Efforts(2016-09-13) Leathers, Howard; Goeringer, PaulItem Current Crop Insurance and Federal Policy Situation(2016-09-13) Frerichs, StephenItem Crop Insurance Option for Diversified Operations: Whole Farm Revenue Protection(2016-05-11) Goeringer, Paul; Leathers, HowardThe 2014 Farm Bill authorized USDA’s Risk Management Agency (RMA) to develop a new type of revenue insurance product: Whole-Farm Revenue Protection (WFRP). WFRP provides a risk management tool for all commodities on farms with up to $8.5 million in insured revenue. WFRP is not intended for one specific crop such as corn, wheat, or soybeans like traditional revenue and yield insurance products, but is intended to cover all crops and livestock grown on a farm. This new product has replaced the Adjusted Gross Revenue (AGR) and Adjusted Gross Revenue-Lite policies.Item A Primer on Crop Insurance(2015-08) Leathers, Howard; Goeringer, PaulFundamentally, risk management on a farm is aimed at smoothing out the income or profit stream over time. This is accomplished by accepting lower incomes or profits during good times in exchange for higher incomes or profits during bad times. Crop insurance is an important tool for risk management. This paper describes comprehensively the details about how crop insurance works. Because crop insurance uses futures market prices in some important ways, the paper also briefly reviews how futures markets operate.Item New Crop Insurance Option for Diversified Operations: Whole Farm Revenue Protection(2015-02) Goeringer, Paul; Leathers, HowardThe 2014 Farm Bill authorized USDA’s Risk Management Agency (RMA) to develop a new type of revenue insurance product, Whole-Farm Revenue Protection (WFRP). WFRP provides a risk management tool for all commodities on farms with up to $8.5 million in insured revenue. WFRP is not intended for one specific crop, like corn, wheat, or soybeans like traditional revenue and yield insurance products, but is intended to cover all crops and livestock grown on a farm. This new product will replace the Adjusted Gross Revenue (AGR) and Adjusted Gross Revenue-Lite policies.Item Supplemental Coverage Option Now a Part of the Federal Crop Insurance Program(2015-01) Goeringer, Paul; Leathers, HowardThe 2014 Farm Bill created Supplemental Coverage Option (SCO), a new add-on crop insurance option which provides supplemental coverage on a producer’s underlying crop insurance policy. SCO operates by mimicking a producer’s individual crop insurance coverage and increasing the protection to 86 percent of the producer’s actual production history (APH) yield and price election. An SCO loss payment occurs when the actual current year county yield (or revenue) is less than 86% of expected county yield (or revenue) at the time of planting. SCO became available with the 2015 crop year in select Maryland counties for winter wheat, and all corn and soybean counties except Allegany and Garrett. USDA’s Risk Management Agency (RMA) will begin looking at expanding covered counties and crops covered, and begin distinguishing by practices (such as irrigated compared to non-irrigated).Item Using Farm Bill Programs The “Sum of the Parts” = Protection for Your Farm(2014-09) Gantz, GeneThis presentation was presented as a part of the 2014 Delaware and Maryland Crop Insurance Workshop.Item ARC/ PLC and SCO 2015 Risk Management Decisions(2014-09) Frerichs, StephenThis presentation was presented as a part of the 2014 Delaware and Maryland Crop Insurance Workshop.Item Trend-Adjusted Yield Option Introduced for Crop Insurance(2014-08) Goeringer, PaulFact sheet has been updated to reflect wheat trend adjustments for 2015 crop year.Item Farm Bill Decision Making: Supplemental Coverage Option(2014-08) Connelly, SteveThis presentation provides an overview of the Supplemental Coverage Option (SCO) that is apart of the Price Loss Coverage program in the 2014 Farm Bill