Posted 8/1/2020 12:09 (#8408807 - in reply to #8408695) Subject: RE: WHIP+
Kettle Moraine, WI
Received first payment (50% of eligible payment) beginning of July. Paperwork in May I think. Took awhile they said because it has to go to county committee and then some district approvals. the paperwork all flowed from crop insurance numbers FSA had so that was easy,
Calculated based on APH, insurance coverage, insurance payment.
Essentially I think it is:
Full APH x Insurance Spring Price x WHIP Factor (based on insurance coverage % of yield insured 95% down to 60% for no insurance coverage)
- Crop Harvested $
- Crop Insurance Proceeds
= Paid now
= Paid later, date unknown
Then you need to insure crops that WHIP paid on for 2021 and 2022 at least 60% coverage
The FSA document on it is pretty straightforward. You don't need to be in a declared disaster county, but you need to be struck by one of the disasters listed.
Per acre all depends on your insurance coverage, your yields, and your farm. (ex 180bu APH x $4.00 corn x 60% - (0 bpa x $3.90) - ($0 insurance) could equal $432/acre with $216 per acre paid now If I remember correctly off the top of my head and remembered all the little quirks that go with it)