RMA Crop Production and Revenue Insurance Products Lesson Overview In this lesson, we will learn about: Wyoming acres of annually-planted crops, and acres insured Multiple Peril Crop Insurance Catastrophic Risk Protection (CAT) Crop Revenue Insurance (CRC) Group Risk Plan (GRP) Group Risk Income Protection (GRIP) Forage Insurance Seed and Specialty Crop Insurance Alfalfa Seed Protection Insurance Nursery Crop Insurance Adjusted Gross Revenue-Lite (AGR-Lite) Speaker Notes: Now let’s discuss Wyoming acres of annually-planted crops, and acres insured, Multiple Peril Crop Insurance, and Catastrophic Risk Protection (CAT).

RMA Crop Production and Revenue Insurance Products Crops Covered Under MPCI: Barley Corn (for grain) Corn (for silage) Dry beans Proso millet Oats Potatoes Sugarbeets Sunflowers Wheat Malting barley Speaker Notes: Annually planted crops in Wyoming that are covered under Multiple Peril Crop Insurance include barley, corn for grain and silage, dry beans, proso millet, oats, potatoes, sugarbeets, sunflowers and wheat. We will look at each one separately by reviewing which counties the crop is planted and the counties in which MPCI is available.

RMA Crop Production and Revenue Insurance Products Corn for Silage Corn for silage production Insured Counties for Corn (for Silage), MPCI Coverage Speaker Notes: Let’s discuss corn for silage. The shaded area, in the Wyoming map on the left, show the counties in Wyoming where corn for silage is a major crop. These counties represent 76% of Wyoming’s production acres. The map on the right shows those counties where MPCI coverage is available for corn for silage. * An estimated 76% of Wyoming’s corn for silage acres are in counties indicated

RMA Crop Production and Revenue Insurance Products Corn for Silage- Insurance Insurable Crop Corn for silage may be insured Insurable Units Corn for silage may be insured at the optional or basic unit levels in Wyoming Coverage Level 50, 55, 60, 65, 70, 75% of APH Price Election 55 to 100% of maximum price election Note: in Wyoming only irrigated corn for silage is covered under MPCI insurance Speaker Notes: Corn produced for silage may be insured at the optional or basic unit levels in Wyoming. Coverage levels may be from 50 to 75% of the APH with a price election from 55 to 100% of the maximum price election. In Wyoming, only irrigated corn for silage is covered under MPCI insurance.

RMA Crop Production and Revenue Insurance Products MPCI Corn for Silage Example Speaker Notes: Now let’s use the information for corn produced for silage. Braddock Farms established the APH at 20 tons per acre and elected to participate at a coverage level of 75%. The yield guarantee is 15 tons per acre. The maximum price election is established by RMA for corn silage for the year. Braddock Farms’ price election is set at 90% of the maximum price per ton. The maximum liability per acre is the yield guarantee multiplied by the elected price. The premium rate is established by RMA and for this example is at 6%. The gross premium to Braddock Farms per acre is the premium rate times the maximum liability per acre.

RMA Crop Production and Revenue Insurance Products Corn for silage: Exercise If the corn (silage) harvest is 10 tons per acre, will Braddock Farms receive an indemnity? (Yes/No) Speaker Notes: Let’s suppose Braddock Farms actually harvests 10 tons per acre. Will this operation qualify for an indemnity? If it does, then we will calculate the value of the indemnity due to the producer. Yes, Braddock Farms is due an indemnity. The 10 tons harvested is less than the yield guarantee of 15 tons per acre. Braddock Farms’ indemnity is the difference between the harvested production and the yield guarantee, which is 5 tons per acre. By multiplying the indemnity in tons by the elected price, you determine Braddock Farms’ indemnity in dollars per acre.