High-Risk Map Changes
The RMA recently released 2024 spring crop high-risk maps for Missouri counties. We are working to obtain more details, but in comparing 2023 to 2024 we have noticed some significant changes to counties located in Northern Missouri. No matter where you farm in the state, we encourage you to review the maps of your farms with your agent for changes that may impact your 2024 premium costs.
Hemp APH Insurance
The RMA recently announced hemp will be insurable in Missouri for 2024 in 105 counties. To be insurable it will require at least one year of production history, be grown for grain or fiber, be grown according to a processor contract that is properly executed by the acreage reporting date, and the insured must be officially certified or licensed by the appropriate governing authority. Insured causes of loss are like other MPCI insurance policies except the policy will not insure against the following:
- THC levels exceeding 0.3% on a dry basis.
- Failure to adhere to the processor contract.
- Production infected by microbial organisms (mold, yeast, fungus, etc.).
- Any damage making the hemp unable to be marketed due to an uninsurable cause of loss.
If you are interested in exploring hemp coverage, please contact one of our FCS Financial agents today.
Following Another Crop (FAC) Written Agreement Details
For Missouri Counties where FAC (double cropping) is not already an insurable practice, RMA has announced changes to the written agreement process for 2024. For producers making new requests in qualifying counties by the March 15th Sales Closing Date (SCD), a blanket written agreement will be available for FAC soybeans and grain sorghum. Producers requesting the blanket written agreement are not required to have prior double cropping experience, but it may be used if the history is available. Any new requests after the sales closing date will go through the traditional RMA underwriting process and may require passing appraisal requirements before they can be approved. If you had a double crop written agreement in place for 2023 and wish to renew it, the 2024 request must be submitted by the sales closing date. For any situation in which you would like to request insurance on double crops we encourage contacting your agent in advance of the March 15, 2024, sales closing date.
