Scic 2023

[sawfly1]

Its weird . My wheat 80% customer is 13.24 wheat Cap drops to 11.23
Yet Canola 80% customer is 12.34 and cap jumps to 21.75
No cap for me. I have no idea how that works.

[furrowtickler]

For 80% here
HRSW - $3.77 , CAP $4.16 …. Coverage $472
Canola - $11.96 , CAP $7.56 .. Coverage $733

A lot of factors involved with ave yields and or recent claims . Very wide range of premiums and coverage.

[Partners]

Like all insurance. If you have a claim, your premiums go up.
Stopped at office yesterday.
Seen our history.
We are 120 k ahead of our premiums..so that's why we are stupid high premium.

[jazz]

I dont know how the CAP is calculated but its way higher than my individual, so thats a hard no.

80%

Durum indiv $7.20, CAP $21.40 $425/ac
Canola indiv $9.07, CAP $24.51 $653/ac
Red Lentils indiv $21.20, CAP $21.20 $302/ac

Ag rep tells me lots of people getting out of lentils this yr. Too much risk, not enough coverage.

[GALAXIE500]

My premiums are up $5 / acre and yield coverage down 2bpa @ 80% coverage on durum, compared to last year. Not because I am a shitty farmer , but because of 3 years of pathetic crops due to drought , which is a word some people haven't dealt with much in their careers. I wish drought wasn't in the equation , but the southwest can be a real adventure to live in.


Yippee shite !!!

[sawfly1]

Nice numbers Furrow. My wheat coverage is 440 and 671 for canola. In the scheme of things ,that is still a bargin, a No brainer.

[fjlip]

Either calculation for us is only $187 difference?

Canola=$687 for $7.87, CAP=$15.21

[ajl]

My premiums are up $5 / acre and yield coverage down 2bpa @ 80% coverage on durum, compared to last year. Not because I am a shitty farmer , but because of 3 years of pathetic crops due to drought , which is a word some people haven't dealt with much in their careers. I wish drought wasn't in the equation , but the southwest can be a real adventure to live in.


Yippee shite !!!

Have lost crop to both flooding and drought (different years) so crop insurance is a factor on this farm. I would be a fellow shitty farmer. However in '22 we did have some decent weather on part of the farm and wowza could not believe the crop I got. Combine that with very judicious use of inputs and we have a field that is 99% percentile as far as generating margin per acre. Had another field of wheat 10 miles NW where the weather was not as good delivered only a mediocre yield. May all the assholes that are subsidizing the 'shitty' farmers be blessed with the kind of conditions I have seen in 2017 to 2021.

[Oliver88]

Either calculation for us is only $187 difference?

Canola=$687 for $7.87, CAP=$15.21

It sounds ridiculous to ever use CAP considering the chance of collecting will be a lot lower if all crops are averaged together.

[Richard5]

It sounds ridiculous to ever use CAP considering the chance of collecting will be a lot lower if all crops are averaged together.

Its worth looking into but each farm needs to understand what its trying to and needs to insure. Any accountant that does ag taxes will have a nice software tool to show you the various options including coverage to premium costs. (You will need your planned crop acres and input budgets)

Your crops are pooled into a basket but you are receiving a higher level of coverage for reduced premium. A significant advantage in the drought of 2021.

The only disadvantage is I don't think you can use the in season price option.