If you’re a producer who has invested in Precision Ag technology, you have all the data about your planting. Maybe it’s on a stick, or stored in the cloud.
Even if you don’t have Precision Ag technology, wouldn’t it be nice to use your phone or tablet to collect the data while you plant?
And wouldn’t it be even better if you could get your crop insurance specialist that data as soon as it’s created?
Now, with MyAgData®, you can!
MyAgData has a full feature mobile app you can use to collect data wherever you are—even right in the field. If your equipment already captures the data and sends it to a manufacturer cloud,
MyAgData can pull the data from there and make it available to your specialist for reporting. It saves you time, it saves them time, and it saves you money because it allows you to only pay premium on exactly what you plant.
MyAgData further provides both you as the producer, as well as your specialist, the ability to take advantage of the USDA’s Acreage Crop Reporting Streamlining Initiative (ACRSI). ACRSI enables acreage reporting and other information to be sent directly to the USDA, just like taxpayers can send income tax information to the IRS. What TurboTax® is to the IRS, MyAgData is to the USDA.
Fast, efficient electronic reporting means everybody can spend more time doing what they need to do. Crop insurance specialists will spend less time collecting planting data and more time ensuring their customers have the correct risk management programs in place. Producers can spend less time in the office and more time working their operation.
Perhaps most importantly, everybody saves money. Producers, on average, save 4.7 percent on their crop insurance using their actual planting data, not the boundaries for FSA Farms.
Here’s a simple example from a producer with 8,275 acres of corn and soybeans scattered throughout five counties in central Illinois. Using the “default” method of paying premiums on the entire FSA
Farm boundary, the producer can expect to pay a total of $76,969 for a Revenue Protection plan. However, using his as-planted data revealed that he actually planted 4.1 percent fewer acres than that default 8,275 acre figure. The producer pays his premium on the planted 7,936 acres (the FSA classifies the 339.28 unplanted acres as Idle) and saves a few thousand dollars in the process.
Using the data you’ve collected while still in the field has other big advantages too. When your specialist gets the data, he or she can begin to review it for submission instead of keying data and asking you questions. It is more accurate, it is auditable, and it is a great way to meet compliance requirements.
Technology is everywhere in today’s farming operations. Producers use the data collected to control planting, inputs, and harvest at a level of precision and efficiency that was unheard of even 10 years ago. It only makes sense to use that same technology and its hyper-accurate data to complete required USDA reporting instead of drawing on a paper map with red pens in a county office.
And because crop insurance is paid on those actual planted acres, the cost to both producers and taxpayers is reduced while providing the same program benefits.
Lower premiums means more dollars kept by farmers, and more dollars kept by farmers provides more opportunity for them to invest in their operation.
The opinions stated herein are not necessarily those of GreenStone Farm Credit Services.
Link to full MyAgData article: https://issuu.com/greenstonefcs/docs/partners_fall_18web/42