03/02/23 Spring Crop Insurance Prices are Set, Now What?

Now that we have established spring crop insurance price points, producers are faced with the task of signing up for another year of crop coverages. Through our insurance division, AgriVantage LLC., we have tried to sort through some of the noise and give our clients the nuts and bolts of what we believe to be the top options for those in a few specific areas of our coverage region. Obviously, what works well for a black dirt Iowa farmer isn’t necessarily going to be the best choice for a Western Kansan with light soil, low rainfall potential, and a higher risk of an area disaster. So as you read forward, keep in mind that each scenario is dramatically different, but we have to make the most informed decisions we can with the information we have, and we aim to help with that process.   This year has set the stage for a great value in crop insurance when compared to the past ten or so years. This is largely due to the fact that we have set pricing at historically high levels at $5.91 corn and $13.77 soybeans, while volatility levels are extremely low. It’s kind of a perfect storm…