Harvest Price

@snarkosaurous Truth!

Naysayers, also told me I would never be a trader on the floor at the CBOT. No one is coming to save you. It’s up to you to save yourself. SEND IT!

@Crop_Ins_Guy @cass_gilmore @AgriSompo ? @RHcropinsurance?

@cass_gilmore Only two, maybe three are American AIPs the others are all foreign insurers.

Foreign owned crop insurance will be subject to a 10% tariff on premium due this fall

@BenRand10 In this example what would the LR be vs producers rate online or the cost of ECO to a producer?

I've finally got back to typing out the ECO RP indemnity calculations. Lets use my county's dryland corn numbers, pulled directly from the example I gave this morning on how and where to find these. We will use a ECO RP policy written at 95% with 100% price. My county expected yield is 112, spring price of $4.70, so expected revenue is $526.40. This fall, the price drops to $4.35, but the county raises 113 (over its expected). So the fall revenue for the county is $491.55. The area loss trigger is 95% of the $526.40, which is $500.80. Since the fall revenue falls below the trigger, we must now determine the factor for everyone in the county who took ECO. The loss trigger is 95%. We subract the final area revenue/divided by the expected ($491.55/526.40), and we get 95.00% minus 93.37% equals 1.63. We then divide that by the ECO coverage band, in this case .09, and our payment factor becomes 18.11%. Everyone in the county who took ECO will get paid 18.11% or (a factor of .1811) of their ECO guarantee. This is why a producers APH in relationship to the county doesn't matter. Because the trigger is met by a county loss, but paid on your APH and ECO guarantee. Producers with higher APHs will be charged more as their liability is larger and those with lower APHs will be charged less. As always, my DMs are open if you have questions. Hope this helps those understand the value this product brings.

@BeetfarmerDave @BigAgRuinsAg The problem with crop insurance is your paying for insurance to the bottom, which is a waste. Better insurance would be more of a spread product where you insure from 85% to 50%. Then CAT on the rest of the operation. Your paying the AIPs for zones that will never trigger.

@BigAgRuinsAg As a farmer, it really shouldn’t be rocket surgery for us all to figure out, Hmmm most years do I write a check to the crop insurance company for MPCI or did the crop insurance company write me a check

8 out of 20 crop insurance companies are Foreign owned Which receive Government Subsidies Insurance money from the Government for Farmers. A lot of people on here seem to think or are acting like the Farmer is getting this insurance for free well we are not. Some say taxpayers don’t want to pay for Farmers Insurance which makes no sense to me being the farmer is still paying for the Insurance. I would rather have private insurance than federal but now comes at play the cost what would it cost you to buy Crop insurance that is similar to Federal crop from a private insurance company being there is only 20 I would think it would be unaffordable. You can’t compare a small operation or an operation that has been honest and does everything by the book compared to operations that are insurance Farming That would be wrong of you to do that. American Taxpayers pay to subsidize Transportation and you know how the roads are they are horrible why don’t you criticize that but instead you want to pick a fight with Agriculture that literally feeds America could you imagine if there was a catastrophe In agriculture crops didn’t get grown cattle died it would turn America into famine. Farmers are the easiest topic for someone to talk about but then has no idea what even goes on into a Farming Operation the only thing they see is Subsidies. If Americans think so badly of Farmers I truly feel bad for you and I really do hope there comes a time where things are so tough you are bitching to government why your corn flakes are $50 and Milk is $70 a gallon and we can explain to you that Farmers keep getting shit on and we packed are bags and said fuck it we are done. Regenerative Ag isn’t the answer in some parts of the U.S. also some farms aren’t setup for some of the Practices and think every farmer should do those practices so does that mean your going to flip the bill for every farmer to change the ways they farm? Oh ya we wouldn’t want any more government money getting spent. Agriculture received 14% of a Farm Bill while snap and nutrition received 76%+ of the Farm Bill but people want to rag on Farmers. At the end of the Day do we need federal crop insurance yes we do. We just have to eliminate the fraud that happens under Federal Crop and even adjust it for the style of Farming you do. I honestly think the bigger picture is not Federal Crop insurance and it is honestly just a way for people to continue to bitch about Farmers getting subsidized to the hills when in reality Farmers are not subsidized to the hills. If you honestly hate Farmers that much you should start buying farm ground and equipment and start farming it the way you want and not buy insurance. I very rarely see Farmers on here knocking Cattle operations or swine Operations but those guys are fast acting to criticize Row crop farmers. At the end of the day we are all in agriculture together and there is an Acre for Everybody.

@BigAgRuinsAg But these foreign companies are receiving 20-30% returns from a subsidized product off of tax payer dollars. They also get access to the best growing information in the world, farmer yield data. Ive done the excise while at one of top AIPs, private crop insurance doesn’t work

@DaleStarkA10 The one thing you are forgetting that will come back in vogue is that these cars from the 60’s can be repaired in your own garage and they don’t have all the stupid technology that tracks every where you go. No cars are shitty.

@Iowacrops This needs to be a critical part of the program.

My 2 cents… Crop Insurance should continue to be subsidized. There should be a rule that it can only be ReInsured and back only in America. No NonAmerican funding, Period!

@SusanNOBULL It’s not worse then that agrisompo stuff, that company stinks!

Someone was busy gathering freebies while I was listening to Secretary Rollins. I’m glad we are headed home with a dozen “Guys Like Big Racks” bumper stickers 🙄🫣🤣

@Iowacrops The i becomes a issue with the Texas Cotten grower groups claiming increase rates will not them to plant cotton. Growing in the dust might not work.

@Iowacrops But agrisompo holds the majority of this risk. Might be begging for rate increases there and premium decreases in the i states #ncis

2022 Texas Cotton Crop Insurance Numbers Total Premium 1,312,000,000 Producer Prem 355,000,000 Losses 2,940,000,000 That is not sustainable. No Crop insurance company would want to invest in that.

@Crop_Ins_Guy @AdamLasch1 It doesn’t work without subsidies, aips wouldn’t be able to get private reinsurance

@AdamLasch1 If the gov stops crop insurance life goes on with the same companies just no subsidy.

Crop insurance, anyone?

@UScropinsurance Over the last 10 yrs how many times has he collect on his mpci?

For Jonathan Rosenau, a wheat farmer & rancher in Winona, ID, farming is more than a livelihood—it’s a way of life. From the smell of the harvest to feeding the world, it’s his passion. With rising costs, #cropinsurance is essential to keep his farm running.

@ksetzergrains Does this tell you they are betting on the dry weather to stay? Are they willing to risk it today for the greater strike down the road?

I merchandised a lot of bushels for a lot of years in NC/NW Iowa. Not once did I pay +5Z for corn at harvest in a record production year.

@RadioRodThorson @agtradertalk You serious Clark?

@agtradertalk That’s wishful thinking by resentful maga folks who want others to fail. Even the rural economy is detached from farm economy. Why did rural economy wither while farm production and prices were strong??? I’ll take the opposite side of wrong farmers every day. #BULLISH

The economy follows the farm economy by 2 years

@gfy_ag Open your dms

Trading tools are great when you can learn to utilize them and implement them into your marketing strategies. Are you using options as a part of your marketing strategy?

@RayBake @IAGovernor Who’s paying for all of this, first thing you learn in economics, there is no such thing as a free lunch. You logic is turd mentality.

Iowa should be so lucky as to have @GovTimWaltz leading our state. Waltz likes kids. He knows they need nutritious food. Sadly, we're stuck with MAGA Republican @IAGovernor who rejected federal funds and made Iowa school kids go hungry this summer. #VoteBlueForChildren

@KINGS1973 Cause they are all brain washed and don’t know how to think for themselves. Supporting Biden until now when it was clear he is gone in the head is all you need to know about the party and there supporters. Blind leading the blind

Why are Republicans so concerned about out how Democrats choose a candidate?

@Chicago_NFL Man you bears fans are one big fan boy of the biggest bust in the draft

In rhythm. On schedule. Multiple reads. Manipulates defense. Quick release. Pinpoint accuracy. #18

@don_banning Lol you old and senile like Brandon Biden? She’s great but you must hate your freedoms and like Bidennoics?

You are looking at the face of a hateful, evil woman who is systematically destroying accepted tenets of a once great state. Note to haters: save your finger tips ‘cause I’m not leaving..too damn old to start over 🤷‍♂️!

@GrainStats @nnzp1730 @gfy_ag It’s time to jump into high coverage level eco/sco product get that protection y’all

@GrainStats @nnzp1730 @gfy_ag But isn’t all this covered in a revenue product from RMA? You get both price and yield protection not just price.

this is not a cheap shot at farmers or anything like that, but it *might* explain why farmers don’t hedge forward production when they really should