1) PP claim must be reported within 72 hours of decision not to plant in late planting period.
2) Eligibility based on 20/20 rule. 20 acres or 20% of unit (BU, OU, EU, or MCEU) whichever is less.
3) Eligible acres will be based on greatest number of insured or certified acres for that crop in the last 4 crop years.
a) If added land - factor will be added if you didn’t lose acres from past years.
b) MCEU – Eligible acres determined at county level.
c) Land must have been planted, harvested and insured at least once in the last 4 years.
4) Eligible irrigated acres can be increased when irrigation is added.
5) Payment Calculation = (55% corn) (60% soybeans/wheat) * MPCI coverage per acre * Spring Price - Corn - $4.00 Soybeans - $9.54 Spring Wheat - $5.77
6) PP acres must be reported on your Acreage Report.
7) PP acres are not included when determining EU eligibility or discount.
8) A second crop planted for harvesting, haying or grazing may NOT be planted on PP ground to receive 100% PP Payment.
a) Second crop must be planted after the later of the Final Planting Date or the end of the Late Planting Period for the first crop to get a PP payment.
i) Ex 1 – If soybeans are planted on PP corn on June 10th, there would be no PP payment for corn and soybeans would have full coverage.
ii) Ex 2 – If soybeans are planted on PP corn ground on June 26th, the PP corn payment would be 35% of the PP corn guarantee and 35% of original premium due on corn. The soybeans coverage would be reduced by 1% per day after June 10th.
b) If a cover crop or volunteer crop is hayed or grazed after the end of the late planting period on any ground prevented from planting prior to November 1st, the PP payment will be reduced by 65%. A crop can NOT be harvested or chopped at any time without a 65% PP payment reduction and a 60% yield plug.
9) Actual Production History (APH) for PP Acreage
a) PP acreage upon which a second crop was not planted within the same crop year will NOT be included in APH records. However, if a second crop is planted and harvested on the PP acreage within the same crop year, the insured will receive a yield plug equal to 60% of the approved yield for the first insured PP acreage. Also, the second crop’s actual production will be used in that crop’s APH records. Insurance can not be waived on the second crop and must be insured if it meets insurability requirements.
10) Remember to call!