Global Ag Risk ?

[JDGreen]

Oh Gus you make way too much sense for this place. Leave now whilst you still have a chance of keeping your sanity, common sense and basic math skills. LOL

[Klause]

oh gus you make way too much sense for this place. Leave now whilst you still have a chance of keeping your sanity, common sense and basic math skills. Lol

lol lol

[JDGreen]

Gust ! You sound like you sell gars !

Sounds like Gus has a business with healthy margins worth insuring.

[Rareearth]

Well it's awesome that we have options, and a choice. They seem competitive on the premium side as well.

It's also way easier to insure when things are good, when cash flow is tight, what do you cut first?

[gustgd]

We did get paid. Our books were in order and we received the first 60% early. I want to say late November early December.
The balance will come in when the bins are empty or May 1st cutoff whichever comes first.

It's a newish program concentrating in southern Saskatchewan. 2015 was fantastic, so no need to collect that year. 2016 was a disaster on this farm. See above.

Others with a more diverse rotation with Canola heavier weighted they probably did ok??

It's not a crop specific program. Doesn't claim to be. Isn't priced as such.

I know of a couple others who said no issues. I can't share their names. Sorry.

2016 will be the test for sure. Lotta wrecks. I don't know anyone in dispute, but I guess that's why we're here.

Question if someone was having a problem with an insurance provider, where would they go?
Is there an ombudsman?
Is there a list like CGC provides for grain buyers?

I know people think/know Agristability is garbage. What's the appeals process

[gustgd]

Sounds like Gus has a business with healthy margins worth insuring.

My sister in law did. She's in a pretty bad health situation so not this year. We are still enrolled this year and upped our guarantee. Next year when we have some big payments off the books, the plan is too lower again.
Manage risk rather than accept what the government offers.

Above was for wiseguy. Did you delete your question on do I sell GARS?

[farmaholic]

Hmmmmm....... GARS, an initial payment and now waiting to see what the final payment will be. Sounds like the CWB model.

Shouldn't be too much unknown at this point. Quantity is a known. Quality is a known. I think we're far enough into the crop year the market prices are even kind of known. What's the hold up?

A different story for those who still have crop out yet to be harvested.

[Klause]

Hmmmmm....... GARS, an initial payment and now waiting to see what the final payment will be. Sounds like the CWB model.

Shouldn't be too much unknown at this point. Quantity is a known. Quality is a known. I think we're far enough into the crop year the market prices are even kind of known. What's the hold up?

A different story for those who still have crop out yet to be harvested.

If Ifyou have malt and and it and it goes feed... durum you thought was saleable but now has too much fuzz.. a bin of canola heats...



All of a sudden not so known?

[farmaholic]

I hope they can cash flow the operation on chicken feed prices and 60% of expected insurance benefits half way through the marketing year.

[Hopalong]

Can agree that that depending on government subsidized yield and revenue insurance is not a good situation.
One problem in moving onward is United States policy and programs that can be more generous to growers than our own.
Think we should not move too quickly away from present growing forward programs independent of US actions.

[gustgd]

Hmmmmm....... GARS, an initial payment and now waiting to see what the final payment will be. Sounds like the CWB model.

Shouldn't be too much unknown at this point. Quantity is a known. Quality is a known. I think we're far enough into the crop year the market prices are even kind of known. What's the hold up?

A different story for those who still have crop out yet to be harvested.

Should have been done but waiting on truckers.....
Durum is crap but is it $3.00 crap or $1.50
If dealing with feedlots and it's max 15ppm vomi and it's showing up at 18...
Quantity is also a estimate I know it's not 62/durum in thos 50,000 bu bins. Most tests came back 58. Someone loads 55..
When we had a big hail storm do damage to the house I was 7 months dealing with SGI, I don't think it's unreasonable to wait until May of the following year to make a better cutoff.

As far as financial strength, we're pretty healthy although that's why you buy insurance. Now we can go into 2017 crop year and farm as if we're trying to get a good crop and not just basics waiting until financial health allows to tak chances again.

[bucket]

Gustgd

Just out of curiosity would you share a ballpark premium on a per acre basis with the rest of us....

When I looked into it a couple years ago the premiums were pretty high considering its whole farm insurance not crop specific.

[Richard5]

Just so everyone knows, its a full reconciliation of farm production to the end of May. The income calculation uses what you end of selling it for and that's why a 2 part payment system.

For my farm, I have sat in a number of presentations including one in Saskatoon this past December with both GARS and Just Solutions outlining their most recent changes.

You need good financials in a specific format and maybe Gust can comment also. If you don't have them in the format of gross margin, labor power and machinery, they will redo them internally to arrive at a quote. From what I am told, there is only one Agriculture firm that prepares their financials in a compatible format

For me, I have not entertained this type of insurance yet as I feel I am at a comfortable enough state that I can somewhat self insure. I continue to be in 80% crop insurance and AgriStabilty

[SASKFARMER3]

Now that you collected for the durum where are they going to be on premium this year! Also if you would of had canola and selling it now would that have made no payment

[bucket]

A couple bad revenue years and I have a feeling it's like agstability. ..the law of diminising returns...