How good is the 2013 crop insurance safety net?
The poorest safety net year was 2006, when the revenue guarantee was projected to cover only 78, 63 and 59 percent of soybean, corn and spring wheat total costs per acre, respectively.
It is important to note that the crop insurance revenue guarantee is not necessarily the minimum revenue that will be received per acre.
“In fact, it only is accurate if there is a complete crop failure,” Swenson says. “If there is any production, the revenue will be a combination of crop value and crop insurance indemnity (if any). Because of differences in the crop revenue insurance harvest price (determined by the futures market) used in the calculation of crop insurance indemnities and the local cash price the farmer actually receives when selling the grain, the actual revenue per acre typically is somewhat less than the crop insurance revenue guarantee.”
- International Year of Soils set for 2015
- Extra care needed for wintertime fuel handling
- CLA issues statement on EPA’s neonicotinoid report
- Cattle futures bucked the bearish ag market trend Thursday
- Valent launches new low VOC plant growth regulator
- Thursday's export data had mixed crop market implications
- ValueAct buys stake in fertilizer dealer Agrium
- DuPont Crop Protection to sell certain assets to Bayer
- Critics of Dow herbicide sue U.S. EPA over approval
- Six tips to help professionals take leaps of faith
- Nitrogen fertilization rates for corn production
- Landmark Services Co-op, Curry Seeds sign agreement