GrowingOn 2013 is a series of meetings at various locations in Iowa and nearby states designed to help crop producers make better business decisions in the coming year. Farm Credit Services of America is hosting 17 of these "GrowingOn" meetings in January for farmers. The purpose is to share economic, marketing and risk management information and insights to help producers plan and reduce risk in 2013.

CROP INSURANCE & MORE: What's new with crop insurance; how to improve your marketing skills and using risk management tools are the topics for the upcoming "GrowingOn 2013" meetings to be hosted by Farm Credit Services of America. ISU Extension farm management specialist Steve Johnson will provide crop price outlook and discuss proposals for the new farm bill.

The program includes a presentation by Steve Johnson, farm management specialist with Iowa State University Extension and Outreach. He will take a look at crop price prospects, expectations for 2013 planted acreage and estimates for crop production expenses in 2013. He'll also explain how to tie crop insurance into your marketing plan. He'll discuss some of the proposals Congress is considering for inclusion in the new USDA farm program. Those proposals are the new Agricultural Risk Coverage Program, or ARC, and the Supplemental Coverage Option, or SCO, for crop insurance. These proposed provisions are often referred to as "shallow loss offerings."

"Even though many producers had disappointing yields because of the drought in 2012, we're still experiencing the best of times in row crop farming," says Johnson. "Demand for grain remains strong; and with limited supplies, crop prices will be high once again in 2013. How high prices are during 2013 will be largely influenced by weather in addition to the world economy, especially what happens with the economies in the U.S., Europe and China. Crop input costs for farmers in Iowa for 2013 will be basically unchanged. With the proposed new federal farm program, crop insurance decisions will be more important than ever."

Crop insurance decisions will be more important than ever in 2013

Referring to the 2012 drought which struck a wide area of the Midwest, "Crop insurance ensured many producers will be back in the field next year," says Christa Wilson, vice president (insurance) for Farm Credit Services of America in Iowa. "Some producers also learned a painful lesson about crop insurance in 2012. Some didn't know what kind of coverage they had until they had to use their policy. Luckily, 90% of the corn acres in Iowa were insured at 70% levels of coverage or greater."~~~PAGE_BREAK_HERE~~~

At the GrowingOn meetings, FCSAmerica crop insurance specialists will share lessons learned in 2012, what farmers should revisit in 2013 and what new changes will occur that will factor into producers' crop insurance decisions. "Along with product and coverage level decisions, careful consideration should be given to the agent a producer works with in 2013," Wilson advises. "As a financial institution that offers crop insurance, Farm Credit Services of America has an incentive to sell the right insurance coverage.  And since our crop insurance specialists are not commission-based, the options we present to each of our customers are based on what's right for them and no one else."

Meetings will cover lessons learned in 2012 along with new changes in crop insurance for 2013

Each GrowningOn meeting is a two and one-half hour program. The meetings will be in Newton, Marshalltown, Perry, Eddyville, Mount Pleasant, Davenport, Cedar Rapids, Manchester, Festina, Lenox, Harlan, Storm Lake, Webster City, Carroll, Cedar Falls and Mason City in Iowa; and at South Sioux City, Neb. Specific time and location information for each meeting can be found here or by calling the local FCSAmerica office. You can also call 800-884-FARM. Preregistration is required.

Farm Credit Services of America is proud to finance the growth of rural America, including the special needs of young and beginning producers, says Wilson. With assets of more than $18 billion, FCSAmerica is one of the region's leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming. Learn more at the FCSAmerica website.