John Deere Risk Protection is offering expanded coverage to producers who have delivery contracts with delivery contracts with its new Crop Delivery Contract Policy, which provides coverage to corn and soybean producers who have delivery contracts with companies or cooperatives contracting grain, including ethanol and biodiesel plants
The Crop Delivery Contract Policy, available when a revenue-based Multi-Peril Crop Insurance policy is in place with JDRP, provides coverage in the event a producer is unable to satisfy his delivery contract due to a yield shortfall and the replacement cost rises above the federal crop insurance
coverage price and the contract price.
The Crop Delivery Contract Policy provides farmers with confidence in contracting more production when better pricing opportunities are available, simplifies the process of securing replacement product, and assists in covering the costs associated with replacing the crop when those costs exceed the original contract price. It works on top of a Crop Revenue Coverage or Revenue Assurance policy provided through JDRP to create additional protection on contracted bushels.
The policy applies to corn and soybeans committed to delivery contracts, and is currently available in the following select states for the 2009 crop year: Arkansas, Iowa, Illinois, Indiana, Kansas, Minnesota, Missouri, Nebraska, Ohio, South Dakota and Wisconsin. Availability in all states is subject to state approval. For more information about this and other products offered through JDRP, contact your local John Deere Crop Insurance Agent.