The U.S. Department of Agriculture today released the details and coverage of the new crop insurance Post Application Coverage Endorsement, or PACE, for non-irrigated corn.
Farmers in select counties in Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin are eligible for the endorsement.
PACE, available to farmers who split-apply nitrogen, provides coverage for the projected yield lost when producers are unable to apply the post nitrogen application during the V3-V10 corn growth stages due to field conditions created by weather. It is available as supplemental coverage for Yield Protection (YP), Revenue Protection (RP), and Revenue Protection with Harvest Price Exclusion (RP-HPE) policies.
“PACE is an important addition to the risk management toolbox for corn growers,” said National Corn Growers Association President Chris Edgington. “We are appreciative of our industry partners and the Risk Management Agency for working to develop and deliver this new crop insurance product. ”
Growers who split-apply nitrogen apply fertilizer multiple times throughout the year, rather than providing just one treatment at the beginning of the growing season. The practice helps prevent runoff and leaching of nutrients in the waterways and the groundwater.
PACE was developed by the Illinois Corn Growers Association, National Corn Growers Association, Ag-Analytics Technology Company, LLC, Meridian Institute and others submitted to the Federal Crop Insurance Corporation under provisions in the law allowing for private development of new crop products.
The first sales closing date to purchase insurance is March 15, 2022. Learn more.