date:Sep 21, 2012
l for corn, there's a lot of producers that will hit that $200,000 trigger for an audit. And when the USDA's Risk Management Agency sets the harvest price from new crop futures in October, the insurable value of crops will almost certainly be higher.
As an example, Smith says if a farm has a 125-bushel yield guarantee and harvests only 60, then the value of the loss would be 65 times $5.68, or $369. In that example it takes only about 542 acres to hit the audit.
Producers need records to docum