October 2020Upcoming EventsEvery Saturday morning “Insights into Insurance” radio show KATE 1450AM 8:45amOct.13-Dec.11 Dairy Margin Protection FSA Sign upOct. 15 - Farmer Lunch DeliveryOct 15-18 MEA WeekendOct 15-Dec 7 - Medicare Annual Election PeriodOct 31 - Happy Halloween!Nov 1-Dec 22 - Individual Health Open EnrollmentNov 26-27 - Happy Thanksgiving! -Office ClosedDec. 1 - MPCI Crop Insurance Interest Charge Date on Unpaid Balances Dec 3-4 - Americana Insurance Group Christmas Open House Dec 11- CFAP2 Sign Up DeadlineDec 24-25 Merry Christmas! - Office ClosedFarm HighlightsFarm Labor Contractors! In the past, neighboring farms were able to use a handshake to confirm a business relationship. As farms have increased in size, and the relationships have become increasingly complex, it is advisable for businesses of any size to have written contracts that clearly spell out the terms and conditions of the business relationship. This is especially true when hiring a farm labor contractor that supplies workers. Having a formal written contract can help avoid disagreements between parties when a loss occurs and help decide which party is responsible to take care of the problem. It can make the difference in paying nothing or paying millions of dollars and putting your entire business at risk.Case Study ExampleCrop InsuranceA new 508(H) program, Enhanced Coverage Option (ECO), has been approved by The Federal Crop Insurance Corporation Board of Directors.Enhanced Coverage OptionSimilar to Supplemental Coverage Option (SCO)Provides area-based coverage for a portion of the underlying policy deductibleUses same expected and final area yields, projected and harvest prices and payment factors as SCOCoverage band from 86% up to elected 90 or 95% of expected crop valueYield or Revenue coverage provided based on the underlying policy plan of insuranceAvailable for 2021 crop year nationwide for 31 crops with a contract change date of November 30, 2020, or later (see attached pre fact sheet for a list)Option must be elected by sales closing date for underlying policyCan purchase both SCO and ECOElection of ECO on acres under ARC is allowedNot available with Margin Protection, Area Risk Protection, Hurricane Insurance Protection-Wind Index Endorsement, Catastrophic Risk Protection Endorsement, High Risk Alternative Coverage Endorsement, or Stacked Income ProtectionPlease see the attached Enhanced Coverage Option pre fact sheet for full details and examples of coverage, premium and subsidiesECO Pre Fact SheetGrain MarketingDemand from China Boosts soybean, corn prices Corn and soybean prices have increased by nearly 20% since early August thanks to robust ordering from China and lower-than-expected corn yields. China's hog herd is recovering from African swine fever, boosting demand for soybean-based feed, said Rick Anderson, risk manager at Ag Partners.Read More...USDA Farm ProgramsWHIP+ Disaster Farm Program There is another USDA farm payment disaster program that many of you will qualify for. It is Whip+. Our office has been putting together packets for our Crop Insureds to help them provide documentation that your local FSA is requesting. If you would like to request your own information for this program please sign up below.Yes I want to receive my WHIP+ packetRead MoreCoronavirus Food Assistance Program 2-Are you a farmer or rancher whose operation has been directly impacted by the coronavirus pandemic? USDA is implementing Coronavirus Food Assistance Program 2 for agricultural producers who continue to face market disruptions and associated costs because of COVID-19.CFAP2 Fact Sheet Would you like to receive our ShareCropper Newsletter?