Fall Seeded Canola

You can insure canola if:

• It is grown in the county on insurable acreage;
• Premium rates are provided;
• You have a share; and
• It is planted for harvest as seed.

Fall seeded canola is insurable in:

Illinois - Gallatin and Wayne County.

Indiana - Gibson, Knox and Sullivan County.

Canola may be insurable in other counties by written agreement if specific criteria are met.

You are protected against the following:

• Adverse weather;
• Earthquake;
• Failure of irrigation water supply;
• Fire;
• Insect damage and/or plant disease, unless you have insufficiently or improperly applied pest or disease control measures;
• Volcanic eruption; or
• Wildlife.

Coverage begins on the later of:

• The date we accept your application; or
• The date you plant the canola.

Coverage ends at the earliest of:

• Total destruction of the crop;
• Harvest of the crop;
• Final adjustment of a loss;
• Abandonment of the crop; or
• October 31, 2018.

• Sales Closing Date ………… September 30, 2017
  
• Cancellation Date ………August 31, 2017
  
• Final Planting …………September 15, 2017
  
• Acreage Report…………December 15, 2017
  

Crop insurance premiums are subsidized as shown in the following table. For example, if you choose the 75 percent coverage level, the premium subsidy is 55 percent and your premium share is 45 percent of the base premium.

Yield Protection - Only protects against a production loss.

Revenue Protection - Protects against loss of revenue due to a production loss, change in price, or a combination of both.

Revenue Protection with Harvest Price Exclusion - Protects against loss of revenue due to a production loss, price decline, or a combination of both.

Catastrophic Risk Protection Coverage (CAT) - Pays 50 percent of your average yield and 55 percent of the projected price. CAT has no premium but does have a $300 administrative fee per crop per county.

Projected Price - Based on the Intercontinental Exchange average daily settlement price of the July Futures Contract from August 15, 2017, to September 14, 2017.

Harvest Price - Based on the Intercontinental Exchange average daily settlement price from June 1, 2018 to June 30, 2018 for July Futures Contracts.

Replant Provisions - You may receive a replant payment if:

• It is practical to replant;
• The appraisal does not exceed 90 percent of your guarantee; and
• You replant at least 20 acres or 20 percent of the unit.
• Replant payments are not available with CAT coverage.

Late Planting Period - According to the special provisions of insurance, the late planting period begins the day after the final planting date for canola and ends 5 days after the final planting date. Your guarantee is reduced by three percent per day during the late planting period.

Prevented Planting - You may receive a prevented planting payment if you are unable to plant on or before the final planting date because of an insurable cause.

Assume 75 percent coverage level on a Revenue Protection with Harvest Price Exclusion plan and an average yield of 1,980 pounds per acre with 100 percent share. The projected price is $0.1630 and the harvest price is $0.1770.