Every year, and often several times a year, we are obliged to write about the U.S. crop insurance program. It is a very important piece of the acreage puzzle because it establishes minimum revenue-per-acre insurance coverage well in advance of the actual fall or spring planting seasons. It is, in my opinion, one of the biggest reasons for the incredible escalation in land values and cash rental rates. Farmers have had big revenue insurance guarantees the past several years because of high proven yield histories and high prices. They can insure up to 85 percent of their 10-year proven yield average at the prices determined during the month of February for the spring planted crops (spring wheat, barley, corn, soybeans, etc.). As a refresher...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, North America