Posts Tagged ‘ harvest ’

2013 Harvest Season

Harvesting

The 2013 harvest season is here.  During this busy season, it is important that we do not forget about farm safety.  Farmers should be checking their equipment to make sure that all safety equipment is in place – safety shields, fire extinguishers, etc.  The fall season brings us shorter daylight hours, so make sure that you have adequate lighting, flashers and reflective strips on your equipment. Most important of all, let’s all slow down on the rural highways and keep a watchful eye for slow moving vehicles and equipment.

Farm producers need to keep several things in mind when they begin to harvest their crops.  Be aware of your crop insurance coverage.  You will find that this year’s crop yields will be extremely variable.  We experienced many challenges planting the crop and then moisture was very limited during July and August.  If you notice your yields are below or near your insurance guarantees, contact your crop insurance agent immediately so that a claim can be filed.  Claims need to be filed within 10 days of harvest completion.  Please keep load records of yields from each farm and mark your bins if you are co-mingling production from several farm units.  This is important even if you are on enterprise units so that you retain that individual farm yield history in event that you change your insurance plan in the future.  Also, if you are comingling 2013 crop with carry-over 2012 crop inventory, you need to request a measurement of the 2012 crop on hand.  Without a measurement, your 2012 crop would be counted as 2013 production on 2013 crop claim.

If you need a crop appraisal in the field, you need to leave a four- row strip the entire length of the field.  You should have a strip for every 20 acres.

Once harvest is completed, report your yields to your agent as soon as possible while the data is readily available.  This year some producers may have a revenue claim on their crop insurance policy.  This may be the case in corn as currently, December 2013 corn is over $1.00 lower than the established spring price guarantee of $5.65.  If you have any questions about crop insurance, don’t hesitate to ask any of our crop insurance agents.

The harvest season gives our producers time to reflect on their equipment needs as they spend many hours in their tractors and combines.  When evaluating those needs, please consider Citizens Bank Minnesota for financing those needs.  We offer very competitive interest rates and flexible repayment terms.

All of us at Citizens Bank Minnesota hope for a safe and bountiful harvest.

By: Kevin Yager, Vice President

Investment and Insurance Products:

  • Are not insured by the FDIC or any other federal government agency.
  • Are not deposits of or guaranteed by a bank or any bank affiliate.
  • May lose value.

Harvest Season is Upon Us

Fall is here and with it brings the start of harvest season.  This year, we again experienced a variety of weather in our trade area, with an early spring that provided the opportunity to plant unseasonably early.  The planting conditions were ideal in early April and then came some rain that caused delays in planting.  However, that early rain was a godsend, as it provided us with much needed moisture.  From spring on, our rains were extremely spotty and as our summer progressed, the dry conditions persisted.  In fact, most of the significant increase in our corn and soybean prices which, depending if you are a producer or user of these commodities, has made raising livestock profitability extremely challenging.

I want to briefly discuss some things to remember with this year’s harvest.  Crop insurance may be a significant source of income and protection for you for your operation this fall.  As you are combining your corn or soybeans, remember to keep accurate load records of the bushels harvested off of each field for reporting purposes.  Bin measurements are also important.  If possible, do not co-mingle grain as it is harvested.  If you must do so, please take the time to mark your bins so that accurate measurements may be taken if a loss is incurred.

When harvesting, if it is apparent that your crop may not meet your guarantees for each unit, please take the time to call your agent and report a probable loss.  If it is necessary to leave test strips, they should typically be four rows wide and the length of the field.  A test strip should be left for every twenty acres in the field.  If the grain being harvested is being directly hauled to town, then scale tickets will provide satisfactory evidence of your production.  Please remember to identify on the scale ticket the farm where the grain was produced.

Please feel free to call us with your questions regarding your crop insurance.  As the harvest season begins, keep accurate records and report bushels harvested once your harvest is completed.  Above all, take time to be safe and not take chances that could jeopardize your safety and that of those around you.

Thank you for your business over these many years and we look forward to continuing to provide service to you in the future.

Bill Brennan, Sr. Vice President

 

Investment and insurance products:

  • Are Not Insured by the FDIC or any other federal government agency
  • Are Not deposits of or guaranteed by a Bank or any Bank Affiliate
  • May lose value

 

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