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Satellite Broadcast to Explain New Crop Insurance

PULLMAN, Wash. — A newly approved insurance coverage offering income protection for most farm-raised crops, animals and animal products will be explained in detail in a 90-minute satellite broadcast produced by Washington State University (WSU) and the U.S. Department of Agriculture’s Risk Management Agency (RMA).

Adjusted Gross Revenue-Lite (AGR-Lite), crop insurance will be the subject of the satellite broadcast from 9:30 a.m. to 11 a.m., PST, on Wednesday, December 1. A number of viewing sites have been set up in Alaska, Idaho, Oregon and Washington (listed below).

The program can also be viewed on computer by video stream by visiting the Web site http://caheinfo.wsu.edu/video/stream.html.

AGR-Lite is a risk management tool recently approved for agricultural producers who report their income on an IRS Schedule F tax form or its equivalent. It will allow producers of most agricultural commodities to insure their income levels based on the average of the past five years. AGR-Lite is limited to producers with average gross incomes below $500,000 and the insured liability cannot exceed $250,000.

The satellite program will introduce AGR-Lite and explain how it came to be, why it is good public policy and a good business practice. The program will look at the future agriculture business climate and why risk management is vital to a farm business. Viewers will be walked through an example application of AGR-Lite, get an insurance context for revenue insurance, and hear about the accounting and tax issues around managing revenue.

The panel of presenters includes Jon Newkirk, WSU Extension Economist and Director of Western Center for Risk Management Education; Dave Paul, Director of the Risk Management Agency’s Spokane Regional Office; Steve Wedel, Northwest National Crop Insurance Services Representative; Brad Wenz, Senior Vice-President of Northwest Farm Credit Services; and Darel Thomsen, Certified Public Accountant specializing in agriculture with the accounting firm of LeMaster and Daniel.

Viewers will have the opportunity to submit questions to the panel via phone, fax or email. Group viewing has been arranged at the following sites:

Alaska:

  • Delta: Delta Junction District Extension, Jarvas Building
  • Fairbanks: USDA/Farm Service Agency Office, 590 University Avenue, Suite C
  • Palmer: Copper River/Mat-su Dist. Extension, 809 South Chugach, Suite 2
  • Soldotna: Kenai Peninsula Extension Office, 43961 K-Beach Road, Suite A

Idaho:

  • Nezperce: U of I Extension, 510 Oak Street
  • Sandpoint: U of I Extension, 4205 N. Voyer Ave.
  • Twin Falls: 715 Shoshone St. N.

Oregon:

  • Aurora: N. Willamette Research and Extension Center, 15210 NE Miley Rd.
  • Eugene: OSU Extension, 950 W. 13th Avenue
  • Hermiston: The “Farm Fair,” Hermiston Chamber of Commerce office
  • Klamath Falls: OSU Extension, 3328 Vandenberg Road
  • LaGrande: Ag Service Center Conference Room, 10507 North McAlister Road
  • Ontario: OSU Extension, 710 SW 5th Ave.
  • Prineville: OSU Extension, 498 SE Lynn Blvd
  • Salem: Chemeketa Community College, Bldg. 9, Rm. 112

Washington:

  • Davenport: Lincoln Co. Commission Chambers, Lincoln County Court House
  • Colville: 985 South Elm, Suite A
  • Goldendale: 603 S. Roosevelt
  • Mount Vernon: 306 S. First Street
  • Okanogan: WSU Extension, 149 3rd N.
  • Prosser: 24106 N. Bunn Rd.
  • Puyallup: 7612 Pioneer Way E.
  • Walla Walla: 328 W. Poplar St.

Additional sites may be added prior to the broadcast date. For an updated list, visit USDA RMA’s Website at www.rma.usda.gov, calendar items. Those with satellite receivers can tune into the broadcast on Galaxy 3, channel 22.

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