Crop Insurance Today February 2014 - (Page 39)

CropInsurance TODAY 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 crop insurance. 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 insurance. "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 ( 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 than $300,000. 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 Webber Farms 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. CrOPINSURANCE TODAY® 39

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