Insurance Policy Coverage Extension Criteria - Importance Of Understanding Coverage Extension Criteria Understanding the coverage extension criteria is vital for various reasons. Firstly, it helps individuals to determine the scope of the coverage they are entitled to, which is essential in making informed decisions about insurance policies. Secondly, it enables policyholders to identify any gaps in their coverage, which may lead to financial losses in the event of unexpected events. Additionally, understanding coverage extension criteria is crucial for businesses to protect their assets and investments from potential risks. Companies must ensure that their policies cover the necessary aspects of their operations, including employees, equipment, and property. Lastly, comprehending coverage extension criteria is beneficial for mitigating risks and ensuring that policyholders are prepared for unfo...
|
| 11 Ways to Profit From Fertilizer in 2023 |
Farmers are prompted to improve their 2023 crop-feeding practices by the global confluence of unpredictable fertilizer supplies and high cash corn prices.
According to Gary Schnitkey, an agricultural economist at the University of Illinois, fertilizer prices will continue to be higher than the long-term norm.
Farmers might purchase anhydrous ammonia, potash, and diammonium phosphate (DAP) in November 2021 for about $800, $600, and $717 per ton, respectively—farmers committed to such prices achieved predictability as well.
These costs currently range between $1,400, $983, and $862 per ton. According to Schnitkey, fertilizer costs are anticipated to remain at current levels due to global unpredictability and a strong demand generated by high cash corn prices.
"Break-even prices for maize and soybeans will be significantly higher in 2023, at or around $5 and $11, respectively. The requirement for high corn and soybean prices to maintain profitability is indicated by the continuation of high fertilizer prices and rises in all production expenses, according to Schnitkey.
These are 11 ideas for making the most of your fertilizer budget.Hedge Fertilizer Purchases With Sales of Grain
The thought of locking in fertilizer prices for the upcoming year only to see them decline is disgusting. Many farmers should have made a purchase decision due to this concern, which may result in them paying more for plant nutrition supplies when obliged.
Now what?
Josh Linville, a StoneX fertilizer marketing expert, advises farmers to use forward contracts on grain sales to offset fertilizer purchases.
"You are assuming you can earn money at next year's maize price if you feel justified to buy fertilizer," he argues. Now, go back and sell corn in opposition to the fertilizer purchase.Check the Soil
The need for soil sampling to determine how much fertility remains in the soil after harvest, according to Oscar Ruiz, an agronomist with Waypoint Analytical Services, is greater than ever.
If you previously tested your soil after harvest, keep doing so. Do a soil test if this is your first year doing one after harvest. Plan to sample annually for two or three years if you are new to soil testing to create a baseline data collection. After that, you can space out those soil testing across a field's course of three or four years.
He continues by saying that many farmers are reluctant to lock in minor earnings because they would forfeit money if crop prices rise or fertilizer prices fall. He advises overcoming that feeling and being pleased with little victories in 2023.
Linville declares, "I'd instead bunt for singles than swing for a home run.
He emphasizes that farmers must talk to fertilizer providers about logistics, price, and supply.
He advises, "You need to speak with your fertilizer supplier. "I understand your concern. Avoid locking in a high price only to watch it decline. Yet, neither does the dealer who sells to them nor the store. These discussions are necessary for the supply chain to be more cautious and have to deal with just-in-time logistics and demand.
Jason Perdue, region manager at Wilbur-Ellis, adds, "If producers have carryover nitrogen [N] based on a soil fertility test, they can back off their overall nitrogen rates.
Sample at the same time every year, whether conducting your first soil test this fall or maintaining a long-term soil planning program. Ruiz clarifies.
According to the season you test the soil, "results will vary," he explains. Compared to before planting, nutritional values may drop a few points amid the growing season. The pH of the soil varies from fall to spring.Carefully handle soil samples.
Taking actual soil samples is crucial, but so is how you handle them once you've taken them.
According to Dorivar Ruiz Diaz, a soil fertility specialist at Kansas State University (KSU), improper handling and storage of soil samples can significantly decrease the accuracy of soil tests and may result in under or overfertilizing crops.
After removing and storing soil samples in a bag, heat and moisture stimulate microbial activity. Waiting to transmit soil samples to a lab can have disastrous effects on converting organic nitrogen (N) to inorganic nitrogen.
According to KSU research, soil samples taken at a 24-inch profile depth eight days after sampling had roughly 60 pounds more nitrogen per acre than samples kept in a refrigerator set to 38° F. The unrefrigerated models had an advantage of approximately 90 pounds more N per acre after 12 days compared to the chilled samples.
Ruiz Diaz advises sending soil samples to a lab as soon as possible after collection. If not, he suggests air drying them or putting them in a refrigerator at 40° F or less.Examine Other Methods Outside Grid Sampling
According to Nathan Slaton, assistant director of the Arkansas Agriculture Experiment Station at the University of Arkansas, farmers may change their soil testing strategy to "zone sampling" after producing a healthy data set from grids or areas with a similar feature that responds to equal treatment.
Zone sampling has gradually progressed from grid sampling. It is intended to be connected with how a field's area will react to the same treatment, such as zones with similar phosphorus [P] and potassium [K] values.
Farmers can create these zones by identifying regions within a field with comparable P or K levels or traits like height and soil texture.
He continues to "also look at yield maps" regarding possible zones. Places with high yields require more fertilizer, whereas areas with low products would require less fertilizer and may have other physical restrictions unrelated to fertility.Understand the results of the soil analysis.
Farmers frequently make the error of presuming they are aware of the "sufficiency" or "grow and maintain" mindset that the soil test laboratory is advising.
It's more inexpensive to apply extra P and K during those years and store those nutrients in a "build and maintain" system, according to Slaton, when crop prices are high, or fertilizer prices are low. Farmers may access this bank of immobile nutrients in times of high fertilizer prices. Farmers must consult the lab agronomist to find out for sure, though.
He claims that sometimes the end user needs help to translate the information easily. To grasp their perspective, "you need to speak with the agronomist."Recognize That Soil P and K Test Results May Not Be Accurate
The idea that the soil test results are exact is frequently held. Slaton asserts that's only sometimes the case.
He claims that the soil P and K numbers are only an availability index, not the whole truth. They provide a gauge of availability up to the sampled depth, although nutrients are also below that level. We frequently underestimate the number of nutrients a crop can receive from the soil.
Also, keep in mind the need for uniformity when collecting a sample. The findings of a soil test and the following advice will vary depending on whether it is in season.
According to Waypoint's Ruiz, hitting the same field sites from which you've taken soil samples is equally crucial. "You can notice a decline by a couple of points in the middle of the growing season, and there will be a soil pH change between fall and spring," he says. Remain constant in space and time.Stabilize N While Protecting It
Perdue of Wilbur-Ellis says fertilizer is too expensive to be left unguarded.
"We have to make sure we're not letting it volatilize into the air or leach," says Perdue. "If we have too much moisture, or if you're just spreading it on the ground. "Nitrogen stabilizers come into play here,"
The expert in corn extension at North Carolina State University, Ron Heiniger, concurs.
Surrender, he declares, "is king. "Cutting N, P, and K won't make our crop continue to perform, no matter what we do. That is slitting your throat to line your pockets with money.
Nitrogen stabilizers inhibit particular N cycle processes that result in losses, hence preventing losses. There are two kinds:
Urease blockers. They stop urea from being converted to ammonium by the urease enzyme.
Inhibitors of nitrification. They eliminate a particular type of nitrifying bacteria that transforms ammonium into nitrate. According to David Franzen, an Extension fertility specialist at North Dakota State University, these products slow the conversion pace. At the same time, urease inhibitors only do so for about ten days (longer in cooler temperatures, shorter in warmer conditions).
Numerous next-generation N stabilizers function to prevent losses from nitrification and volatilization. They seek to offer a more durable defense against N loss.Make a first fertilizer purchase.
If you've never used starter fertilizer when planting corn, 2023 might be the year it pays off immensely. According to studies cited by Dan Quinn, an agronomist with Purdue University Extension, starter fertilizer blends containing N, P, and K enhanced maize output by an average of 5.2%.
The rates were 7, 8, and 4 pounds (per acre) when used in the furrow, respectively. The rates were 21, 21, and 15 pounds per acre of each in a 22 situation (2 inches deep and 2 inches to the side of the row).
The study, released in 2020, found that across 474 sites in the upper and lower Corn Belt, yield increased by 5.2%, and the "win rate" was 74%. Warning: Results from both techniques were comparable when most N was applied before or during planting. Only the 22 treatments boosted yield when most N was applied at side-dress.Take the 2x2x2 Fertilizer Application into Account.
2 2 2 is a technique that is becoming more popular. Two bands of fertilizer, each 2 inches deep and 2 inches from either side of the row, are added to corn crops at planting by farmers who outfit their planters appropriately.
According to the seed manufacturer Beck's, this method, known as 222, increases output by roughly 5 bushels per acre compared to applying fertilizer to only one side (220.3 bushels per acre vs. 215.6 bushels per acre).
Becks examined two fertilizer products through its Practical Farm Research Program:
Blend of 28% and 10-34-0 Straight N, split 50/50
According to numerous years of research, the yield bump seems to originate from the N rather than the P. Beck's has demonstrated a return on investment for three years in a row, earning the designation of "PFR Proven," demonstrating how strongly it believes in the method.Timeliness of Tissue Testing Comprehension
A WinField United agronomist named Isaac Anderson claims that tissue testing growers have a limited window of opportunity to make adjustments.
He advises that farmers must discuss the turnaround time for tissue sampling with retailers. Some merchants can deliver tissue samples daily, while others require a week. According to Anderson, who can compare a 75-year-old person to the typical lifespan of a corn plant from emergence to physiological maturity?
"We have to make sure we're not letting it volatilize into the air or leach," says Perdue. "If we have too much moisture, or if you're just spreading it on the ground. "Nitrogen stabilizers come into play here,"
The expert in corn extension at North Carolina State University, Ron Heiniger, concurs.
Surrender, he declares, "is king. "Cutting N, P, and K won't make our crop continue to perform, no matter what we do. That is slitting your throat to line your pockets with money.
Nitrogen stabilizers inhibit particular N cycle processes that result in losses, hence preventing losses. There are two kinds:
Urease blockers. They stop urea from being converted to ammonium by the urease enzyme.
Inhibitors of nitrification. They eliminate a particular type of nitrifying bacteria that transforms ammonium into nitrate. According to David Franzen, an Extension fertility specialist at North Dakota State University, these products slow the conversion pace. At the same time, urease inhibitors only do so for about ten days (longer in cooler temperatures, shorter in warmer conditions).
Numerous next-generation N stabilizers function to prevent losses from nitrification and volatilization. They seek to offer a more durable defense against N loss.Make a first fertilizer purchase.
If you've never used starter fertilizer when planting corn, 2023 might be the year it pays off immensely. According to studies cited by Dan Quinn, an agronomist with Purdue University Extension, the use of starter fertilizer blends containing N, P, and K enhanced maize output by an average of 5.2%.
The rates were 7, 8, and 4 pounds (per acre) when used in the furrow, respectively. The rates were 21, 21, and 15 pounds per acre of each in a 22 situation (2 inches deep and 2 inches to the side of the row).
The study, released in 2020, found that across 474 sites in the upper and lower Corn Belt, yield increased by 5.2%, and the "win rate" was 74%. Warning: Results from both techniques were comparable when most N was applied before or during planting. Only the 22 treatments boosted yield when most N was applied at side-dress.Take the 2x2x2 Fertilizer Application into Account.
2 2 2 is a technique that is becoming more popular. Two bands of fertilizer, each 2 inches deep and 2 inches from either side of the row, are added to corn crops at planting by farmers who outfit their planters appropriately.
According to the seed manufacturer Beck's, this method, known as 222, increases output by roughly 5 bushels per acre compared to applying fertilizer to only one side (220.3 bushels per acre vs. 215.6 bushels per acre).
Becks examined two fertilizer products through its Practical Farm Research Program:
Blend of 28% and 10-34-0 Straight N, split 50/50
According to numerous years of research, the yield bump seems to originate from the N rather than the P. Beck's has demonstrated a return on investment for three years in a row, earning the designation of "PFR Proven," demonstrating how strongly it believes in the method.Timeliness of Tissue Testing Comprehension
A WinField United agronomist named Isaac Anderson claims that tissue testing growers have a limited window of opportunity to make adjustments.
He advises that farmers must discuss the turnaround time for tissue sampling with retailers. Some merchants can deliver tissue samples daily, while others require a week. According to Anderson, a 75-year-old person can be compared to the typical lifespan of a corn plant from emergence to physiological maturity.