2011 brought a challenging weather year for some, with corn yields varying across Illinois from north to south. Undoubtedly, however rough a year you might have had, you certainly have yields that are greater than a decade ago.
Thanks to your checkoff investment, in 2012 you can select the Trend-Adjusted APH Yield Option when you purchase crop insurance. This endorsement offers you the opportunity to pay less to insure the same number of bushels or to buy up your coverage for a lower incremental cost.
The Illinois Corn Marketing Board’s new crop insurance concept, an endorsement that adjusts Actual Production History (APH) to incorporate a growing yield trend, has been approved and will be made available for the 2012 crop year for select states and counties.
The Trend-Adjusted APH Yield Option insurance plan for corn and soybeans will allow farmers with qualifying APH databases to have their APH yield adjusted based on their county’s historical yield trend. The result is an APH yield that more closely reflects a farmers potential yield, thus crop insurance coverage guarantees are more accurate.
USDA’s Risk Management Agency is working to finalize and release all program details of the Yield Option on its website in time for the 2012 crop year.
The Illinois Corn Marketing Board manages the Illinois corn check-off program and invests funds in research and promotion to benefit corn farmers. This new risk management tool was made possible by individual farmer investment to better their industry.