John Deere Risk Protection (JDRP) is now offering the Crop Delivery Contract Policy. This policy provides coverage to corn and soybean producers, who have delivery contracts with companies or cooperatives contracting grain. This includes ethanol and biodiesel plants. This policy, available once the multi-peril crop insurance policy is with JDRP, insures yield shortfalls below contracted volumes in the event the price to replace the corn or soybeans rises above the federal crop insurance coverage and contract price.
Overview
Triggers when a producer’s total harvested and/or appraised production is below their contracted volumes AND the price to replace the crop is above the contract price and both their spring and harvest MPCI price. Coverage is capped at $1/bu on corn and $2/bu on soybeans above the higher of the revenue spring or harvest price.
Works on top of JDRP CRC or RA policy to provide additional protection for contracted bushels. (underlying RA must have Fall Harvest Price Option)
Production to count will be calculated the same as the underlying FCIC revenue product.
Underlying MPCI must be CRC or RA with Fall Harvest Price Option.
Benefits
Provides confidence in contracting more production when better pricing opportunities are available.
Simplifies the process of securing replacement grain in the event of a production shortfall.
Assists in covering the costs associated with replacing the contracted crop shortfall when those costs exceed your federal crop insurance coverage.
*John Deere Risk Protection, Inc. (dba JDRP Crop Insurance Services in California) is the crop insurance Managing General Agent for The Insurance Company of the State of Pennsylvania and Westfield Insurance Company and Westfield National Insurance Company. Coverage may not be available in all jurisdictions and is subject to actual policy language. See your authorized John Deere crop insurance agent for details. John Deere Risk Protection, The Insurance Company of the State of Pennsylvania, Westfield Insurance Company, and Westfield National Insurance Company are equal opportunity providers.
