Scic 2023

[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.

[Grahamp]

I am surprised the CAP is not getting any love. I’ve never collected more than my premium in 13 years so my experience discount is big, but on the other hand my yields are nothing special seems like we were flooded out about 10 of those years just above crop insurance.

Anyway with CAP I get 88% coverage for the 80% premium level. And that 8% is the very expensive coverage level. I like having a gross dollar number I know works before I put a seed in the ground. To be honest this is the first year I have been pleasantly surprised with both my coverage and premium levels.

[fjlip]

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

But our Wheat, Barley CAP is stupid low, so depends on crop mix, either scenario is only $187 difference. CAP does raise coverage to 88%. If Drought or Flood on whole farm, works better.

[Guest]

$908 for $17.87 canola at 80% here
Rest too low

[BTO780]

Was told today our first experience discount has been taken away. Wow what a kick to the nuts.
Put the premiums through the roof then take the discount from us.
Was sent a letter couple months ago saying any bill over 100k will now need two signatures as a guarantors.
Couldn’t understand why, now I do.

Mr Maritt has some serious explaining to do.
Could be a revolt coming.
Absolute nonsense!!
Some program this is. Protect the farmers … haha line the pockets of these useless people in office.

[wrongway]

my truth
IP canola at %80 40.7 bu coverqge of 803.10/ac premium of 30.41/ac both cap or individual
hrsw @%80 44.6 bu/ac 454.13/ac 12.40

prremium easily double of last year but i did have a claim of 10x premium due to drought in 2021

[Guest]

Looked again , canola actually $786 ,at 80%, 41.8 bu, for $15.32 , cap would be $17.88
The higher one was on summerfallow ? Which we don’t do ?
Wheat is $441 , at $9.22 , 43.4 bu for $9.22 , cap would be $6.45