Wheat insurance: Deadline approaching in mid-March

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BROOKINGS — With the March 15 Spring Wheat Crop Insurance deadline just a few weeks away, the month of February is a good time for South Dakota wheat growers to review their insurance needs and decide what insurance package is right for them, says Matthew Diersen, professor of Economics at South Dakota State University.

Diersen details all the wheat insurance options and considerations in SDSU Extension’s new book iGrow Wheat: Best Management Practices for Wheat. View Chapter 9 — Insuring Wheat in the Wheat community Resource Library on www.iGrow.org.

Because price election levels are released during the month of February, Diersen says growers can use the information about insurance coverage and price bids to make wheat insurance and marketing decisions.

The type and amount of insurance a grower will need is largely based on anticipated yields and their marketing strategy says Diersen.

If a grower plans to do a lot of forward pricing, Diersen says Revenue Protection might be the best product for them.

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