PEANUT POLICIES

Things to Consider

Our team at Agriliance insures peanuts in many different states across the country and we provide risk management advice for each farm individually.  All farms have different risk depending on location, financial risk tolerance, markets, soil types, access to irrigation, etc and it is our goal to provide a risk management solution that fits the needs for every operation that we have the pleasure of doing business with.

The Risk Management Agency (RMA) administers crop insurance policies for peanuts in many different states and has different options and tools for farmers to protect their financial risk during the growing season. Our team has partnered with several different Approved Insurance Providers (AIP’s) who offer many different private products that can help supplement a peanut farmers risk management plan. It is our goal to provide the most complete risk management plan in the most economical way possible. Please give us a call to discuss your peanut crop insurance plan and learn more about how we can add value to your specific operation.

Building Policy Unit Structure

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Optional Units

Optional Units

It is important to consider geography, wildlife pressure, and timing of harvest when selecting unit structure. Peanuts that is planted in smaller fields surrounded by wooded areas are typically more susceptible to deer and hog pressure. We believe the biggest risk a peanut crop has is getting excessive rain at harvest and not being able to dig and/or gather the peanuts when they are mature. Optional units may be a valuable option when it gets too wet during the middle of harvest and you can't gather a portion of the peanut crop in the field.

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Enterprise Units

Enterprise Units

This is a more cost effective way to insure because this policy groups all of the peanut production produced in the county together. We typically do not like to see enterprise units on peanuts because of the way we harvest and the timing of harvest. There are certain operations that can benefit from enterprise units but this is not common.

Enterprise by Practice

Enterprise by Practice

In order to keep non irrigated production and irrigated production separate this unit structure needs to be selected. If a hurricane happens during the middle of peanut harvest and you can only harvest your irrigated peanuts and not your non irrigated peanuts before the storm hits, it is beneficial to have each practice's production contained separately.

Multi-County Enterprise Unit

Multi-County Enterprise Unit

This allows a grower to enterprise production across county lines and it is the best way to manage premium cost if there is only one farm number in a separate county.

Important options to elect

Yield Exclusion

Optional Units

When 50% of the acres grown in the county yield below the county t-yield that production year can be excluded from the 10 year actual production history (APH). This is election can be the most important election made in certain areas and on certain crops.

Trend Adjustment

Trend Adjustment

Over a 10 year APH database corn varieties and genetics have improved. Each yield in the 10 year APH database is adjusted upward by the trend adjustment factor, times the number of years that have passed since the yield was recorded.

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Level by Practice

Level by Practice

This allows a grower to elect a coverage level for non irrigated corn and a different level of coverage for irrigated corn. Irrigated corn may have less or different risk than non irrigated corn and this option gives you flexibility on how to manage these risks separately.

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SCO vs ARC

SCO vs ARC

If ARC is elected through the FSA programs on corn then that makes a grower ineligible for SCO through crop insurance. It is important to compare the county yield for both SCO and ARC as well as the market conditions when making a decision to participate in the SCO endorsement.

Yield Adjustment

Yield Adjustment

Allows 60% of the t-yield to replace the actual yield when the actual yield comes in below the benchmark.

Yield Cup

Yield Cup

This option prevents the approved actual production history yield on a database from dropping more than 10% from the previous years approved APH yield.

Contract Price

Contract Price

This option allows peanut growers to take advantage of a higher contract price if the standard planting price sets lower than the contract they have with the buying point.

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