Prevent Plant SEMINAR 2019

1. Prevent Plant SEMINAR 2019

2. Meeting Agenda • Replant • Final Plant (Late Plant Period) • Prevent Plant • Scenarios • Questions • Virgil Schmitt, Field Agronomist, Iowa State University

3. Replant • 20/20 rule is in effect • Call before you replant! • Replant payment for 2019 • Corn = $32.00/acre • Soybeans = $28.62/acre

4. Final Plant Date • The last day to plant before you are penalized on your MPCI elected coverage • Lose 1% per day on elected coverage, for up to 25 days (known as the late plant period) Example • Elected 85% • Planted 25 days after Final Plant Date • Now have 60% coverage

5. Final Plant Dates – Late Planting Period Iowa Dates * 1% per day reduction in guarantee after Final Plant Date – 25 days in LPP

6. Final Plant Dates – Late Planting Period Illinois Dates * 1% per day reduction in guarantee after Final Plant Date – 25 days in LPP

9. Late Plant Example

10. Prevent Plant Definition • Failure to plant an insured crop prior to the final plant date. • Insured will receive: • 55%* on corn • 60%* on soybeans (*of your elected coverage) • Cannot plant another crop for harvest, haying or grazing

11. Prevent Plant Eligibility • 20/20 Rule = 20 acres or 20% of unit, whichever is less. • Has your operation had major changes in last FOUR years? • Increased significant amount of acres? • Went all corn acres? If YES – see your agent to discuss Eligible Acres

12. What Doesn’t Qualify? • Ground coming out of CRP? • Not Eligible • Alfalfa coming out of rotation? • Not eligible if it has been 4 years since it was planted, harvested and insured. • Added Ground? • Eligible if you can prove it was planted, harvested and insured once in the last 4 years • New Breaking? • Not Eligible

13. Effects on your APH

14. Effect on APH and TA yield 2019 - 204.5 - 121 0 2020 guarantee 173 179

15. Prevent Plant Payment Calculation • Payment is based on projected (Spring) price only

16. Scenarios

17. Replant After Crop Failure • Insureds will not be allowed to plant a second crop until after 10 days of the final plant period for the 1st crop. • If a producer plants corn on May 15 and has a crop failure on June 1st, the earliest he could plant a crop other than corn on that acreage would be June 10th.

18. Crop after PP Example 1: If soybeans are planted on PP corn on June 10th • There would be no PP payment for corn • Soybeans would have full coverage • Because its before the June 15th late plant date of soybeans Example 2: If soybeans are planted on PP corn ground on June 26th, THEN • The PP corn payment would be 35% of the PP corn guarantee. • AND 35% of original premium due on corn! • The soybeans original coverage would be reduced by 1% per day after June 15th.

19. Prevent Plant • Field intended to be 100% planted to corn • No corn is planted in the field • Conditions improve late so field is partially planted to soybeans • Cannot claim PP corn on the unplanted acres • Exception: • Field has two-crop history once in the last 4 years. • PP acres in the field must meet the 20/20 rule.

20. Scenario - Cover Crop If a cover crop is hayed, grazed, harvested, or chopped prior to November 1st • Prevent Plant payment reduction to 35% • AND a 60% yield plug included in your APH

21. Frequently Asked Questions Seed corn would be eligible for PP as long as female crop is not taken to harvest. What if I have planted female seed corn but have been prevented from planting male rows?

22. QuestionsConcernsCommentsCall Lee Agency800-225-9252

23. Resources From Today’s Meeting • Prevent Plant/Late Plant/Replant Presentation • Iowa State Prevent Plant Calculator • Prevent Plant/Late Plant/Replant Decision Making FlowChart Visit www.leeagencyinc.com/ag/farmcrop

24. Dates to Remember • June 7th – TruAcre 3rd Annual Field Day • July 15th – Acreage Reporting Date • August 29th – Lee Agency’s Fall Ag Seminar • September 5th – #notyournormalfieldday with Growing Ag, LLC

25. Thank you for your attendance today!