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7. Brasher: Crop insurance agents' commissions may take hit One of the fattest targets that has emerged: The federal crop insurance program and the money paid to companies and agents to sell and service federally subsidized policies. To get an idea of how much premiums and commissions will rise this year, consider this situation: In Story County, the premium for a typical revenue assurance policy that covers 75 percent of the crop value would total about $40 an acre this year, up from $23 in 2006. Congress looks everywhere to find money for the...
Source • DesMoinesRegister.com,IA •
8. Monsanto grows crop yields with new seed However, the switch has raised concerns that yields would fall as farmers used less fertile land and avoided the rotation of crops to lock in high prices. MONSANTO has signalled a profound shift in the production profile of US farmers, suggesting that far more land would be suitable for planting its hi-tech corn seeds. It said that glyophosphate-tolerant corn - which can be grown in drier conditions - was now suitable for planting in up to 80 million acres in the US compared with its...
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9. Calif. Reports Most Agricultural Freeze Claims Settled Based upon reports from both crop and homeowners insurers, most of the homeowners claims have been settled or closed, and most of the private crop insurance claims have been settled, according to the Division. The briefing took place at a Bee Sweet Citrus packing house, which is running at partial capacity due to crop losses stemming from the devastating freeze earlier this year, according to CDI. CDI does not have jurisdiction over the federal crop insurance program. To date, the CDI has...
Source • Insurance Journal,CA •
10. Subcommittee endorses crop insurance fairness And, when organic farmers must collect on their insurance policies, they are compensated at the price of the conventional crop, not the higher organic price. The inequities of the crop insurance system are a key impediment to more farmers converting their land to organic production. In the legislative proposal that will now be considered by the full Agriculture Committee in the coming weeks, subcommittee members call for eliminating or reducing the organic premium and providing...
Source • Food Digital,UK •
11. Drought takes its toll on farmers Crop insurance companies will deduct from their payments anything the farmer can salvage from the crop. Economic impact Row crop farmers lose income from crop reduction or loss for the second consecutive year. Immediate Impact Grass in pasture and hayfields quit growing, leaving cows without food and farmers nothing to store for the winter. Row crop farmers have little or no harvest. Because of high prices, the number of acres planted in wheat this year is about four times what it was last...
Source • Dateline Alabama,AL •
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