Now is the time to start planning crop insurance strategies for the 2013 crop year, even though the crop insurance enrollment deadline for corn, soybeans, and spring wheat in the Upper Midwest is not until March 15, 2013. For the first time in 2013, wheat producers in most of West Central and Northwest Minnesota, Northeast South Dakota, and most of North Dakota will be eligible for the TA-APH endorsement. The TA-APH will likely be quite attractive to many Midwest corn and soybean producers, as well as wheat producers in those selected areas. The coming crop year will likely feature a high level of price volatility, along with considerable drought risk in many areas of the Midwest. [ read more ... ]

With Federal Crop Insurance, every year is different, and with the multiple options available to producers, there are many variable results from crop insurance coverage at harvest time. 2012 will be no different, with some producers choosing Yield Protection (YP) policies (yield only) versus Revenue Protection (RP) policies (yield and price). Producers also have differences in the level of coverage, and some producers chose “optional units”, while other producers chose “enterprise units” for 2012. [ read more ... ]

Many farm operators across the upper Midwest are facing the most severe crop loss since 1988, with some producers facing the most significant drought since the 1930’s. There will undoubtedly be large financial losses in many areas of the regions to farm operators, associated businesses, and local communities, even in some portions of Southern Minnesota. However, the financial losses to corn and soybean producers in 2012 will be somewhat mitigated by Federal Crop Insurance coverage. [ read more ... ]