Crop Insurance Today February 2014 - (Page 39)
CrOP INSuraNCe IN ACTION
A Young Farmer on a Mission
to Stay in Farming
by Jan eliassen, ad Hoc associates
Matt Webber is a young farmer on a mission to stay in farming. He very nearly lost
that chance but for one thing . . . he purchased
Webber, 34, farms 400 acres in Kent County, Delaware. He has 120,000 capacity poultry
houses and grows hay (double cropped with
soybeans), corn, wheat and lima beans.
Part of his risk management strategy here
is that he has contracts for the broilers/roasters he raises and has a contract for his lima
beans. He also forward prices much of his
crops to lock-in income he can plan on. He
can plan on that income because he uses crop
"If it hadn't been for crop insurance we
would have had to close up shop three years
ago. Last year was dry and this year we had
such a wet spring that I couldn't get into the
field to harvest the hay and I was prevented
from planting soybeans. The good news was
that I was covered and I knew I would get a
chance to plant again next year," he said.
For Webber to get coverage on his double-crop beans he must keep separate records
of his double crop Actual Production History.
"It's not really a problem. I think it is
worthwhile." Webber rents land from his father but he wanted to get his own land, something everyone admits is very difficult for a
young farmer. The State of Delaware is going
to help him.
Young Farmers Program
Webber applied for the State of Delaware
Young Farmers Program and as a result he,
and his wife, Bobbi Jo, were able to go to set-
Matt Webber with son Nathaniel
tlement on their own farm this December.
The program (http://dda.delaware.gov/
young_farmers.html) provides long-term,
no-interest loans to help eligible farmers purchase land, reducing the financial impact on
farmers starting out and attracting more people to invest in agriculture.
Eligible farmers must be between the ages
of 18 and 40, have at least three years of farming experience and a net worth of no more
Farmers must actively use the land for
agricultural purposes for the term of the
loan. The 30-year, no-interest loans may fund
up to 70 percent of the value of the property's development rights, up to $500,000. The
principle must be paid off in the last 10 years
of the loan.
The land purchased with help from the
program will be permanently preserved as
farmland through Delaware's Agricultural
Lands Preservation Program.
Table of Contents for the Digital Edition of Crop Insurance Today February 2014
Four Keys to 2014
A 25 Year Milestone in Farm Policy, Looking Back at the 1989 GAO Report
Excellence & Professionalism, No Matter What Comes Our Way!
Corn Loss Instructions Updated for 2014
There's a Right Tool for Every Job! NCIS' IMAP could be the one you're missing
Crop Insurance In Action: Crop Insurance Lifeline
FFA Proficiency Winner
Insurable Crops Locations & Plans
Crop Insurance In Action - A Young Farmer on a Mission to Stay in Farming
Crop Insurance Today February 2014