Harvest season is here, and Ontario corn and soybean producers can now wrap up their Production Insurance participation for the year. Reporting yields early and keeping Agricorp informed about crop damage can help producers get the payment process started early. And, by signing up for direct deposit, producers can get cash in their account faster.
Call us early to report yields
Don't wait for the deadline. The sooner yields are reported, the sooner producers can check it off their to-do list and the sooner Agricorp can process potential payments. Most farmers complete their harvest around the same time and therefore call us at the same time to report their yields. Producers can avoid longer-than-normal wait times around the deadline by reporting their yields as soon as they can. The deadline for reporting corn and soybean yields is December 15.
If wet conditions delay harvest beyond the yield reporting deadline, customers still need to call Agricorp to report a partial yield and confirm the status of their coverage.
Questions about damage? We're here to help
Harvest is a good time to assess crops for damage. If producers notice any crop damage, they should contact Agricorp to report the damage or to update an existing damage report. This ensures more accurate and timely claim payments.
Get your payment faster
Producers have enough to do without the hassle of collecting, signing, tracking, and depositing cheques. Producers who receive claims can get their payment into their account faster with direct deposit. See how easy it is by visiting agricorp.com/directdeposit.
Claim prices for corn and soybeans
The 2017 floating claim prices for corn and soybeans are now available. Customers who are in a claim position can estimate their potential payments at the following prices:
2017 claim prices
| Fixed ($/bu) | Floating ($/bu) |
|---|
|
Corn | Conventional | $3.85 | $4.42 |
|---|
| Organic | $8.65 | N/A |
|---|
|
Soybeans | Conventional | $10.55 | $11.69 |
|---|
| Organic | $26.40 | N/A |
|---|
| Tofu | N/A | $13.19 |
|---|
| Natto | N/A | $14.68 |
|---|
Floating claim prices are set at harvest time to compensate farmers with the at-harvest market price needed to replace their production shortfall. Fixed claim prices are set at renewal time and are based on forecasted market prices. The fixed option is often a low-cost alternative to the floating option, while the floating option usually produces a higher claim price than the fixed.
For more information about Production Insurance for corn and soybeans, visit the
corn and
soybean sections on agricorp.com.
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