Not All the Corn Will Get Planted
The final corn planting date for full insurance coverage is this coming Friday May 31, 2019. Farmers can plant corn after that date during the Late Plant Period but the insurance level goes down by 1 percent per day until the end of the Late Plant Period on June 25, 2019. If a farmer must take the Prevented Plant option they will be paid 55 percent of their guarantee. Looking at the forecast of 100 percent chance of rain on Tuesday and 1 to 2 inches there will not be any more planting at least for a few days.
The final planting date for full coverage on soybeans is not much later than corn on June 10, 2019. The payment rate for soybean Prevented Plant is 60 percent and the end of the Late Plant Period is July 5, 2019. We do have some time yet to get soybeans planted but one of these weather systems will have to miss us! It seems every 3 or 4 days another system moves through with more rain. Just about the time you think you can get back in the field there is more rain!