double crop

stonerock73 · Nov 15, 2012

around here [centeral ohio] take the wheat off plant beans. beans usually only make 15-20. insure bean crop for 40 bta it caust 20.00 per acre to buy insurance and you have made out good!!

IaGary · Nov 15, 2012

Your insurance rate is based on your yield history. Your insured rate is also discounted for late planting as well.

Now if you plant enough single crop beans to keep your yield up you may be able to to have a 45 bushel proven yield average. Then insure at the 85% level to be garantted 40 bushel. But the 20 bushel yields will drag your yield down for following years.

You won't have that 40 bushel insurance level very long with the 20 bushel harvest.

Remember you can be spot checked to make sure your yield history is correct. And if you collect more than $200,000 on any one crop it is an automatic audit of your history and yields.

Gary

Erik Ks farmer · Nov 15, 2012

I can't even insure after harvest beans.

stonerock73 · Nov 15, 2012

i havent done this was told about it this year..

RGMartin · Nov 15, 2012

Sounds like fraud via a loophole.

paul · Nov 15, 2012

Just fraud, no loophole?

Your insurance is based on yield histeries, even if you fraud somehow, the lower yields will dwindle you down to where it wouldn't work long.

Not to say their aren't problems with the insurance program, mtself I think it encourages folks to not replant or try to get asd many bu as thay can. Don't think it should be insuring a profit.

But also don't think it can work the way described, either.

--->Paul

Animal · Nov 16, 2012

Are you doing this or just thinking? In my kneck of the woods this kind of action would get your throat cut...As bad as the last couple of years has been Insurance adjusters have been working overtime and they are not above showing up at your farm for a visit. Insurance and the FSA are working together more and more every day. I believe they would really bust you hard for insurance fraud.

rustacres sd · Nov 16, 2012

Around here, they plant the winter wheat and insure it. If it doesn't do good in spring, they collert and harvest it for hay ro silage if it makes it that far along, then they will plant late beans or corn and not insure it. It will make lower bushels or silage. Can only insure and collect on one planting per year.

Anonymous-0 · Nov 17, 2012

Can you get crop insurance on beans planted (after wheat) the first week of July?

rustyacres sd · Nov 18, 2012

Depends on your states regulations. Most states of a deadline for each crop to be able to insure them.

double crop

stonerock73

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IaGary

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