Ag Risk Management and Crop Insurance

Crop Insurance

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Hemp! Proceed With Caution

2018 FARM LAW UPDATE

HEMP! Proceed With Caution!

With the signing of the 2018 Farm Bill into law hemp was declassified from a controlled dangerous substance and is now an agricultural commodity.

Crop Insurance for Hemp Production with Ag Risk Management and Insurance featured image
Become informed about the emerging Hemp Industry.

Currently in Oklahoma our state pilot program differs from the federal laws. Research into regulations and ag policies for hemp are underway but it will be sometime before a commercial ag industry is up and running.

With the lack of infrastructure and processing facilities we urge you to proceed with extreme caution if you plan on growing industrial hemp in the 2019 crop year. Do your research and make sure you are not getting pulled into something that is too good to be true.

Currently hemp is eligible for crop insurance but there is no federal crop insurance policy available this year for the new commodity.

In the future industrial hemp could be another crop you can put into your rotation but there are to many unknowns currently. As we begin to see more information on Ag Policy on industrial hemp we will keep you informed.

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Apache Farmer’s Coop Readies New Risk Management Services For Roll Out

The following article appear in the Agriculture News Section of the Oklahoma Farm Report on Monday September 24, 2012:

Apache Farmers Co-op finance manager Davey Jones has been studying the agricultural finance landscape for a long time. What he’s learned over the years has allowed his co-op to create a bundle of risk-management tools and services they are preparing to offer their members. If they benefit the membership of the co-op, Jones says they may be coming to a co-op near you.

Radio Oklahoma Network’s Farm News Director, Ron Hays, recently spoke with Jones about the evolution of their risk management process and what it offers producers. Jones says the project has developed organically as the needs of producers has developed.

“It’s been a process as agriculture has changed and as, specifically, the input costs in agriculture have changed. It’s become a much riskier way of life. As we’ve watched that unfold, we’ve noticed that there are certain things that, looking backwards, if our producers had taken certain steps, then they really could have negated a lot of the negative consequences of these risks when they do play out to their disadvantage.

“So, we began to look at some things, as a co-op, that we might do, services we might provide that would help them plan ahead and manage those risks a little better.

“So, about two-and-a-half years ago, we began to kind of put together the pieces of the puzzle as droughts and price volatility of both inputs and the crops and livestock that we market became more erratic. As they became more erratic, it really seemed to pick up the pace of the need to make that come to fruition a little quicker. [Read more…] about Apache Farmer’s Coop Readies New Risk Management Services For Roll Out