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Yield Protection (YP) protects against a production loss due to weather related causes of loss and certain other unavoidable perils. YP also provides prevented planting and replant protection. Coverage is expressed as a production guarantee (Approved Yield x Coverage Level). Coverage levels are 50% - 85% in 5% increments. Catastrophic (CAT) coverage is available at 50% of the approved yield and 55% of the projected price.
Benefits:
- Helps grower confidence to do pre-harvest crop sales
- Provides stability for long-term business plans
- Acts as a cash flow safety net
- Lenders may view it as loan collateral
- Aids in risk and financial management