Friday, May 4, 2012

Soybean revenue program still in development stage

MKC management continues to work with Swiss Re to develop a revenue program designed to assist growers in managing the risk (primarily weather) associated with growing double crop soybeans.

Last year, MKC was the first in the nation to offer this one-of-its kind program when double crop soybeans weren’t traditionally eligible for federal crop insurance. The program was offered in 11 counties last year and representatives are working to expand to additional counties.

According to Dave Spears, MKC’s Chief Marketing Officer, Swiss Re has recently asked for more detailed information to assist in the completion of the data analysis. Spears commented that the variation of risk in each county is creating a challenge.  “The variation between counties is amazingly different,” stated Spears.  “Swiss is taking a hard look at this and it could mean that costs may vary per county.”

Swiss Re is still determining the availability of the program for our area at this time.

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