Wheat producers eligible for Supplemental Coverage Option
by MBJ Staff
Published: August 13,2014
MISSISSIPPI DELTA — Wheat growers in Bolivar, Coahoma, Sunflower, Tallahatchie and Washington counties are eligible for the Supplemental Coverage Option that was authorized in the Agricultural Act of 2014.
Depending on whether the producer’s crop insurance coverage is a yield protection or a revenue protection policy, the supplemental coverage option will provide an indemnity payment when yield or market revenue measured at the county level falls below 86 percent of the expected county revenue as determined from county yield histories and futures prices.
Wheat producers in the five eligible counties will need to make decisions about Supplemental Coverage Option participation by Sept. 30, 2014.
Producers are not required to purchase Supplemental Coverage Option insurance. The coverage is not available for acreage enrolled in the Farm Service Agency’s Agricultural Risk Coverage program.
For fall-planted wheat for the 2015 crop year only, a special exemption applies to producers who apply for the Supplemental Coverage Option and later want to participate in the Agricultural Risk Coverage program.
Producers in the five eligible counties who intend to plant winter wheat this fall should contact their crop insurance agents regarding this important decision.
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