A look at a line graph of corn and forage quality will remind you of a ski slope. Producers are watching their crops dry up and yields drop.
There is good news, though. Ray Massey, University of Missouri Extension social sciences professor, said most of Missouri's corn acres have revenue-protection crop insurance.
"In other words, most farmers' revenues from combined crop sales and insurance indemnities should be good," Massey said. "Corn prices have already increased a dollar-and-a-half in the last three weeks."
A smaller percentage of acreage has harvest price exclusion coverage, which will cover only the guaranteed price but will not include adjustments for a rise in corn prices, Massey said.
Forage crops aren't faring any better than corn, so some producers may be contemplating corn for grazing, hay or silage. Don't do anything to your crop until you contact your insurance company, Massey said. They will need to send out an adjuster to evaluate crop damage. He said one of two decisions could occur at that time.
"He'll make a determination on the spot, saying this is your yield and you can now destroy the crop, which will make it available for silage," Massey said. "Or they'll ask you to leave a strip. You can harvest the rest as silage, but that one strip must be left until harvest, and that will be used to determine yield for the entire field."