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Beginner crop insurance
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BMBFarms
Posted 3/8/2024 19:00 (#10657704 - in reply to #10657096)
Subject: RE: Beginner crop insurance


Mizzoura
indianaracer81 - 3/8/2024 10:38

Moose333 - 3/8/2024 11:30

I did ECO and SCO the past 2 years. It really doesnt pay for extra coverage this year with prices. went with 75% cost me 9 for corn and 4 for soybeans. Hard to see any worth in it when I was and am growing 30 bu better than my APH in corn... This will be my 3rd full year in row crops.


My agent suggested MPCI, said that is the most common. And for 75% coverage, it's going to be almost $20 for me. And honestly, I should be decently above my counties average on a normal year too, so not sure if it's worth paying for the extra coverage, especially with my low expense costs.


Don’t let your low expense cost keep you from treating it like a full crop. Even paid for land and equipment has opportunity costs.

I’d probably go 80. It seems to be the best value and will pay you off if you have any sort of weather disaster. It’s insurance to give you confidence to forward contract and make sure you don’t go REALLY BROKE. Just a LITTLE BROKE if you have a bad year.
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