2023 MPCI Price Elections and Reminders

Mar 6, 2023 | Home Featured News, Insurance News

2023 PRICE ELECTIONS 

 

CROP

YIELD PROTECTION/ REVENUE PROTECTION  

  

 

CROP

 

APH

Barley 5.59 Dry Peas Varies By Type
Canola Spring Oleic

Canola (Spring Rapeseed)

.272

.376

Dry Beans Varies by type
Corn (Grain) 5.91 Flax 17.00
Corn (Silage) 44.50 Oats 4.28
Soybeans 13.76 Safflowers .253
Sunflowers (Oil)

(Confection)

.305

.326

Buckwheat Contract Price

$15.36 Max

Wheat  (Spring)

(Durum)

8.87

10.11

Mustard Contract Price

 

REMINDERS FOR MPCI DEADLINE – MARCH 15, 2023

  • New applications, cancellations, transfers
  • Add crops and/or delete crops
  • Change levels of coverage
  • Change plans of coverage (yield protection, revenue protection)
  • Verification of entity type and Social Security or Federal Tax ID number
  • Fall Seeded Crops – In order for insurance to attach, an acreage report must be on file. Appraisals will be made when the crop comes out of dormancy, to determine that an adequate stand exists for insurability.

Written Agreements

  • If you have new breaking of alfalfa or CRP and want these acres insured, you may need to request coverage with a written agreement. NOTE: Requesting insurability for new breaking on Native Sod must be done by March 15th.
  • If you intend to plant a crop or a type/practice that is not insurable in a county and would like to have those acres insured, you need to request coverage with a written agreement. Production History for that crop or a similar crop may be needed to complete the request.
  • Beginning Farmer Rancher (BFR) – increases yields and provides additional subsidy
  • Veteran Farmer Rancher (VFR) – increases yields and provides additional subsidy

 Please check the 2023 FCS Crop Insurance News for all updates for the 2023 crop year.

Please call to schedule an appointment before March 15, 2023 to review and/or make changes to your crop insurance policy.

Farm Credit Services of Mandan is an Equal Opportunity Provider

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