Farm Credit East, ACA

Crop Insurance has a lot of acronyms and options. Your agent might say an acronym and move on so fast your head is spinning. Let's break all those down in today's Crop Insurance Glossary. These options usually cost pennies on the dollar and add tremendous value to your policy. https://ow.ly/TviL50U0Ifi #CropGrowers

The agriculture, commercial fishing, forest products and food manufacturing industries are key economic engines in the Northeast, according to an economic impact report recently released by Farm Credit East. The report found that 71,365 farms and related businesses throughout the eight-state region of Connecticut, Maine, Massachusetts, New Jersey, New York, New Hampshire, Rhode Island and Vermont produced an estimated $225.2 billion in economic activity supporting 818,408 jobs on and off the farm.https://ow.ly/C0NC50TWBln

As the 2024 growing and harvest season wraps up, many producers will be turning to their tax advisors to continue the year-end tax planning conversation. In this article, we examine a few areas that may be of interest to apple producers and their advisors. 

Farm Credit East is pleased to continue its support of Northeast agricultural educators with scholarships to aid their attendance at institutes offered by the CASE 4 Learning. Scholarships will cover up to $1,250. The application deadline is December 13. https://ow.ly/OP3h50TUPZT

Reminder: The deadline to insure Northeast perennial crops for the 2025 crop year is November 20, 2024. Insurable perennial crops include apples, peaches, grapes, cranberries, blueberries, pears and cherries. Coverage availability varies by county, so please review the information available at https://ow.ly/6S4T50TSPnn, or contact a Crop Growers agent. https://ow.ly/XeuW50TSPnm

Farm Credit East has announced its awarding of six scholarships to students involved in the National FFA Organization (FFA) to support their Supervised Agricultural Experience (SAE). The scholarship recipients had strong projects and expressed a clear understanding of their projects’ impacts on their future careers in agriculturally related fields. https://ow.ly/xO4Z50TRZRP #FFA24

In agriculture, change is a constant. With the many variables those in agriculture deal with each day — weather, wildlife, disease, markets, consumer preferences — technology may be one of the easier variables to adapt, adopt and hopefully add value to the operation for the long term. In fact, farmers are often early adopters of new technologies, but what benefits can new technology, including Artificial Intelligence (AI), bring to an operation? Let’s break it down.

The USDA’s Risk Management Agency (RMA) announced that the Enhanced Coverage Option (ECO) will expand coverage to include several fruits for the 2025 crop year and increase premium support to make the coverage more affordable. The ECO will now include apples, blueberries and grapes, providing new coverage opportunities for Northeast fruit producers. https://ow.ly/oXo350TR2QV

The Risk Management Agency (RMA) recently announced expansion of its perennial crop insurance coverage in New Jersey to include grape producers in additional counties and producers in select counties can now obtain coverage for their clams. This expansion will allow Crop Growers, Farm Credit East’s insurance provider, to provide important coverage to mitigate risk for more New Jersey producers. https://ow.ly/xxLI50TQ9eC

Following the recent devastating weather events in the southeast U.S., Farm Credit East has announced its Farm Credit East Cares Community Fund will donate $20,000 to relief efforts, including to organizations supporting the region’s agricultural producers and Farm Credit System employees. https://ow.ly/wMP150TNXN1