The USDA projects record corn and soybean yields for 2016, but our regional crop yields look good but variable across Indiana, Ohio, Kentucky and Tennessee. “Though not widespread, we’ve seen pockets of drought and flooding that reduced yields and grain quality,” said Jason Alexander, Vice President-Crop Insurance, Farm Credit Mid-America. “Some hard-hit farms are posting corn yields at just 75 to 100 bushels per acre or less and they won’t be the only ones submitting crop loss insurance claims this year.” For some farmers, low grain prices will be the biggest challenge that triggers a claim. So, what are some questions farmers should be asking themselves right now about crop insurance? There are plenty of crop insurance questions to answer. For example, what if your yield is at or somewhat above your guarantee but the corn price is low? What is your coverage level? Is your policy on enterprise units or optional units? Did you choose 80 percent or 85 percent coverage? These details and others can make a big difference in determining if you should be getting an insurance payment and, if so, how much. “Nationwide, corn crop prices are looking like they will be well below the spring guarantee corn price of $3.86,” Alexander said. “If corn is in the $3.00 to $3.35 range and that will likely trigger many revenue-based crop insurance claims.” In these market conditions, it’s a good idea to stay in contact with your insurance specialist to evaluate potential claims and their impact on your farm’s bottom line. Source - http://ocj.com