Insurance and Marketing Simulator Online

Developed by Matthew Diersen, South Dakota State University Extension Service and Andy Swenson, NDSU Extension Service, this Excel spreadsheet can help crop producers evaluate coverage under Multi-Peril Crop Insurance, Crop Revenue Coverage, and Revenue Assurance.

The first step in using the model is to decide how the simulation results should be viewed. They can be viewed in several ways: base, multiple and grid. Base results show total revenue and its sources for one specified yield and price at harvest. Multiple results show total revenue and its sources for nine yields and futures prices at harvest. Grid results show revenue for 70 price and yield scenarios.

The desired view determines which of three spreadsheets to use. There is one spreadsheet for base results, one for multiple and one for grid. Select the spreadsheet and specify the information needed for insurance products and marketing tools. The multiple spreadsheet is suggested as a starting point.

The simulator is online at www.ag.ndsu.nodak. edu/aginfo/farmmgmt/software/riskmgt.xls.

Producers are encouraged to consult with their crop insurance agent about the most appropriate crop insurance changes for 2004, as well as any policy and rule changes, well before the March 15 signup deadline.