Ken Ripley

So the big thing is whether you're starting or whether you've been farming for 40 plus years, it all comes back to an APH.

So we have for every section, depends on where you're at in the country.

Like in Iowa here, it's going to be by section.

Some parts of the country, it's based on farm shill number.

But in Iowa, this is just for example, 10-year history of each section is going to give you your APH, your actual approved history.

which is what we base the insurance on.

So it's always going to be you're buying a percentage of that history for coverage.

So you'll anywhere from 50% to 85% and now some area plans will get you up into that 95% coverages.

So that's kind of what sets your bushel protection is that going off that history.

And then we take what we call our spring price or a projected price discovery.

So for corn, that's the month of February.

We look at December futures.

For soybeans, we look at November futures during that same price discovery, and that's how we determine the projected price or the spring price.

And then for revenue losses, we're going to look at in the fall, the month of October, we're going to look at what did that price do.

And again, over November futures for beans and December futures for corn.

If there's a shortfall there, you get paid on that shortfall.

But it's your production.

It's your data.

Like I say, area plans, I know we'll talk more about some of that stuff coming up, but these area plans have definitely changed the landscape, especially since those are giving us some 95% triggers that are based off of your APH, which is exciting about those products.

Yeah, so if you had not turned in a claim by towards the end of December, you would have missed a deadline to turn in a claim for last year's crop.