ADM Pre-Harvest Checklist: 8 Things to Do Before Heading to the Field
August 16, 2024
While most of the hard work at harvest takes place in the field, there are other steps you can take to make life easier off the field and avoid
ADM is proud of an exclusive relationship with Crop Risk Services (CRS). We encourage you to work with a CRS agent early in the crop year and to integrate your insurance with a proactive grain marketing plan. ADM has a team of crop risk specialists who can make this process easy and seamless, providing you the expertise needed to maximize your revenue with the right mix of defensive and offensive strategies that include both crop insurance and grain marketing.
Success in farming is all about optimizing margin per acre. Revenue protection crop insurance helps cover both a lower yield per acre due to poor crop conditions and a lower price per bushel due to falling markets. Price times yield makes up the revenue portion. The base price is established for the crop prior to planting, with the opportunity to catch a higher harvest revenue price if you elect that coverage and markets move higher.
In this respect, crop insurance is a powerful tool to improve your margins. With a “safety net” in place on a portion of your new-crop bushels, you can confidently market those bushels in the first and second quarters of the year, when prices are typically better than they are after harvest. Historically, many farmers who forward-marketed during a difficult crop year ended up with some of their best revenue, through a combination of higher prices and indemnity payments.
You can choose a conventional revenue protection policy, which includes two price guarantees, or consider adding an additional price discovery period with a RevNet* policy from Crop Risk Services. In the RevNet option, you can know the price you’re guaranteeing before buying the policy.
Along with decisions on what percentage of your crop to protect, there are lots of angles to work with crop insurance. Talk to an experienced CRS crop insurance agent or an ADM crop risk specialist who can help you navigate the complexities and protect your bottom line. The combination can help you lock in a profit, remove stress, and set you up for success.
* RevNet is available for select crops in many, but not all, ADM territories.
ADM is not a crop insurance agent or licensed to offer or sell crop insurance. ADM is providing this communication for informational purposes, and it is not a solicitation or offer to purchase or sell commodities. The recommendations in this communication do not take into account any particular individual’s or company’s objectives or needs, which should be considered before engaging in any commodity transactions based on these recommendations. The sources for the information and recommendations in this communication are believed to be reliable, but ADM does not warrant or guarantee the accuracy of the information or recommendations. ADM or its affiliates may hold or take positions for their own accounts that are different from the positions recommended in this communication. The information and recommendations in this communication are subject to change without notice.
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Please contact me so we can have a conversation about Crop Risk Services.
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