1. Wesley N. Musser Farm Management Specialist Department of Agricultural and Resource Economics University of Maryland

2.  This Farm Bill not about crop insurance  Some modifications were included  Also, some administrative changes  This talk will summarize changes

3.  More Flexibility on records of farm stored crops  Must obtain this authority before harvest  Apply to crop insurance agent  Similar Flexibility for yield records for APH

4.  Dairy Gross Margin (LGM) insurance  Protect against losses in gross margin  Gross Margin is Milk Value minus Feed Costs  First Available for sale at end of August  Additional opportunities at end of each month  Workshops will be held on LGM in fall or winter

5.  Applies to Crop Revenue Coverage, CRC, and Group Risk Income Protection, GRIP  Refers to changes in harvest price from spring price for indemnities  Current Limits are $1.50 for corn, $2.00 for wheat, and $3.00 for soybeans  Does not allow adjustments to recent prices changes in harvest price  New limit up to double spring price  No limit on downward price movements

6.  Earlier discussion of SURE  All crops must be covered by crop insurance or NAP  Waiver available at County FSA Office for 2008  Must sign up by September 16, 2008  For 2009 and later years must sign up for crop insurance or NAP in regular enrollment period  2009 Enrollment deadlines begin 9/30/08 small grains and perennial crops

7.  Catastrophic Coverage Crop Insurance  $300 per crop per county beginning for 2009 crop policies  NAP Fees increase to $250 per crop per county not to exceed $750 per county or $1,875 per producers in multiple counties

8.  Organic crops, energy crops, Adjusted Gross Revenue for beginning farmers, grain sorghum price elections, malting barley quality, broilers and other contract poultry, and loss of bees  Options for declining APH’s  Pilot programs in grass seed and other crops  Additional benefits for enterprise and whole farm unit options

9.  Allows producer to pay fee to allow FSA to measure quantities for claims  Allows deferring claims for four months past current deadline to allow grain in bins to settle

10.  Reduce federal subsidies on area insurance plans  Allows producer to use both informal appeals and mediation to resolve claims  Beginning in 2012, premium payment deadline changed from October 1 to August 15

11.  As always, talk to your crop insurance agent about changes  Now also must get information from FSA on NAP if all land not covered by crop insurance