Canadian and USA crop weather

[charliep]

malleefarmer

Crop insurance here is designed to be actuarial sound - over time the program will break even. Posters are accurate on the farmer/government share. Coverage is an area average yield specific to the farms location indexed for a farmers claims experience. Farmers who have a limited number of claims have better indexed yields whereas those that have more claims see the yield side of coverage decrease. Prices are based on forecasts about 3 to 5 months ahead of seeding. You can supplement all risk crop insurance with a hail rider to increase coverage for this specific risk. Alberta also offers a price insurance component (something like a put option). Lots of other nuances to our programs but a basic primer.

[Daylate]

We've not had crop INS. In 7 yrs now,and
haven't missed it. Our regular crop ins premium
we put towards municipal and line hail ins. Has
worked very we'll for us so far. 7more years and
were a crop ahead.

[blackpowder]

Never been to Oz, would like to someday. Need some help for a month some winter??
Here in AB with my costs a unseeded acre benefit wouldn't pay my rent, I have to seed, so far lucky.
Also as you know, we grow a crop between the graces of winter.

[blackpowder]

Sure wish I were in your shoes Daylate. Of course every situation is specific. With my ratios I have to.
One year I cheaped out, saving money for line hail ins. Minor drought. Saved $8000. Lost $56000 potential.
Depends on your philosophy of course. But now I look at it this way. If my cash-flow cannot afford to take the $56k hit in any ONE of those 7 years, I feel I must spend the $8k.

[cottonpicken]

Saskatchewans has a point system where you gain
points if you don't make a claim it translates into a
percentage of the premium you pay wich ranges from
plus or minus 50%.

Which means if your base is 10 thousand and you
have a 50% discount you pay 5000 or if your minus
50% you pay 15,000.

Have i got that right?

Personally I'm glad to have gotten into the 50%
discount because the cost on some of these crops has
gone through the roof lately.

The coverage options are also pretty variable ranging
from under a hundred an acre to 300 an acre
depending on crop and % level chosen.

I would be interested in knowing what the top lentil
and canola growers have maxed out for coverage
levels,could be over 400 an acre at 80%,anyone want
to show their privates,lol?

[malleefarmer]

guess my original post was actually
leading to the fact that each year the
canadian crop is to wet or to dry of just
right and usa corn beans and wheat lives
and dies 4 times a year and usually crops
turn out just a tad over or under average
depending on weather despite all the gloom
and doom at times.
now i will get really flamed.......

[Horse]

I knew some good old boys from sask a few yrs ago so this may not be true now, but at the time they would pour everything into 1 crop and then next yr ins and put nothing into it and collect ins then move on to next crop and do the same thing . Hell they said some yrs they didnt bother to put seed in the drill and still made a lot of money.
Do you supose that will still work?

[furrowtickler]

All shit hits the toilet sooner or later. They will get caught and be broke . Sask crop ins has sniffers out hard now.

[SASKFARMER3]

Crop insurance never makes you money.
NEVER. It is their to cover the Basics if
you have a shitty year. Frost year helped
these wet years a little but not a big
cash grab.
Yes the Gov does say its a split on
premium with the farmer. Yea in good years
when the progam has very few claims you
think they really top up there part above
what farmers pay.

[TOM4CWB]

Mallee,

Colourful people talk big... the statistics show in the end what happened.

Rain often veries over a few miles... even frost can differ substatially over a township depending on wind currents etc. Don't judge a book by its cover...

After 2002 Drought and that wild wipe out... we will pay our premiums and be happy if that kind of disaster is avoided. We don't buy fire insurance to make money... same with crop insurance on our farm. Just sleep better at night and pay the bill.

Hope your crop is doing well... if the rain shows up here early next week we will be VERY happy!