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Crop Insurance
iFarm Tools: 2015 Spring-Deadline Crops
simulator  

Status: Available This tool returns estimates of premiums for available insurance products at each coverage election, and then calculates the expected frequency of payments, average payments, net costs, and risk reductions associated with alternative crop insurance products and election levels in an easily understood format. A graphical summary of the probability of achieving various levels of revenue with each product is also provided along with a tabulation of guarantee levels provided for each product and election combination. The tool presents a case farm with the Trend-Adjusted APH in counties where offered, and a standard base case in other counties. This tool will be updated periodically throughout the signup period to reflect the most current price environment during which crop insurance purchase decisions are made.

calculator   Status: Coming Soon This tool provides premiums that are useful when making crop insurance decisions for multiple crops. Estimates are for crops in states that are harvested in 2014. This tool will be updated periodically throughout the signup period to reflect the most current price environment during which crop insurance purchase decisions are made.
FAST Spring  

Status: Available This spreadsheet tool contains four components. The first computes farmer-paid premiums for different user entered parameters.; A "What-if" tool calculates insurance payments for user supplied prices and yields. A history of insurance payments and premiums can be found in the "Historical Analysis" section. The tool also allows comparison of farm yields to county yields.

(Requires Microsoft Excel)
iFarm Tools: 2015 Fall-Deadline Crops
FAST Fall  

Status: Available This spreadsheet tool contains four components. The first computes farmer-paid premiums for different user entered parameters.  A "What-if" tool calculates insurance payments for user supplied prices and yields.  A history of insurance payments and premiums can be found in the "Historical Analysis" section.  The tool also allows comparison of farm yields to county yields.

(Requires Microsoft Excel)>

Crop Insurance Publications
Yield Exclusion: Description and Guidance (January 13, 2015)
hThe Yield Exclusion (YE) allows specific years to be dropped from the calculation of guarantee yields for crop insurance. This option is available because of provisions contained in the 2014 Farm Bill. This article describes YE, provides an example of Actual Production History (APH) yield calculation and premium quotation under YE, and provides guidance for YE's use. More...
Release of 2015 Crop Insurance Decision Tool: Higher Premiums in 2015 (January 6, 2015)
he 2015 Crop Insurance Decision Tool is available for download from the FAST section of farmdoc. This January release will quote corn and soybean premiums for the COMBO an ARPI products, as well as provide quotes for the Supplemental Coverage Option (SCO). A YouTube video demonstrating the tool is available. More...
Crop Insurance Revenue Guarantees Likely Lower in 2015 (November 7, 2014)
Next year, crop insurance guarantees likely will be lower than those for recent years. As a result, farmers will face more downside revenue risks. In this article, 2015 crop insurance guarantees are projected using levels of current Chicago Mercantile Exchange (CME) futures contracts. Revenue guarantees for crop insurance products will be below total costs of production. More...

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Illinois Farm Managment Handbook

Information in this section is useful in a variety of crop insurance decisions. Click here for instructions on using the Crop Insurance Handbook.

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