Farmers across the country are reporting weather-damaged soybeans. In response to the reports, USDA’s Risk Management Agency (RMA) issued a new fact sheet to help producers fully understand the process for filing quality adjustment claims for damaged crops under the federal crop insurance program.
“To be eligible for quality adjustment payments, soybeans must grade sample grade or worse,” explained Max Fisher, director of economics and government relations for the National Grain and Feed Association in a press release. “Kernel damage exceeding 8% damage is one of the factors that causes soybeans to be sample grade. As referenced in the fact sheet, producers should file a notice of loss with their insurance agent within 72 hours of initial discovery of the damage.”
The fact sheet defines damaged soybean kernels as: “Soybeans and pieces of soybean that are badly ground-damaged, badly weather-damaged, diseased…mold-damaged…or otherwise materially damaged.”
In addition, the fact sheet notes that some soybeans that qualify for a quality adjustment might also qualify for a “zero market value” if you can’t find a buyer for them.
If you’ve experienced damage to your soybeans, call your crop insurance provider right away.