crop insurance
Pare crop insurance subsidies, encourage diversity-Report
Congress should phase out premium subsidies on crop insurance policies sold to the wealthiest U.S. farmers and offer policies that reward growers who hedge their risks by planting a variety of crops instead of specializing in one or two crops, said...
Incoming House Ag chair calls for vigorous USDA oversight
Texas Republican Mike Conaway, the incoming chairman of the House Agriculture Committee, said he expects "vigorous oversight" of federal programs from crop insurance and food stamps to farm subsidies and the futures markets in the new session of Congress. Conaway redrew the jurisdiction of the Agriculture subcommittees and said, "All six subcommittees will be expected to carry out vigorous oversight of their mission areas." At present, there are five subcommittees.
Low market prices could mean $6-$8 billion in corn subsidies
Two agricultural economists say corn subsidies could cost $6 to $8 billion for this year's record-large corn crop, says Reuters. The estimates are based on the projected U.S. average price of $3.50 a bushel for the crop, the price guarantees of the farm bill and...
Five top themes of 2014 and for the new year
The year-end holidays are a traditional time for summing up and for trying to forecast the future. Here is the Ag Insider list of five salient issues in food and agriculture policy likely to lead the headlines in the new year, as they did in the year now waning. The issues...
Crop insurance “is oversubsidized,” should be pared-analysts
The 2014 farm law expanded the role of crop insurance in the farm safety net; making it the centerpiece of the farm program, according to some descriptions.
Deere sells crop insurance unit to Farmers Mutual Hail
Deere and Co, the world's largest equipment maker, said it reached definitive agreement to sell its crop insurance unit to Farmers Mutual Hail Insurance Co., of West Des Moines, Iowa.
Crop insurance favors large-scale growers, says white paper
The federally subsidized crop insurance system is skewed toward large-scale growers of crops such as corn and soybeans, says the Land Stewardship Project in the second of three white papers on the program.
Crop insurance “lacks accountability and transparency”
The federally subsidized crop insurance system, which cost $58.7 billion from 2003-12, "lacks accountability and transparency," says the Land Stewardship Project in a white paper.
Higher crop, flood insurance costs with climate change
The Government Accountability Office says cost of the taxpayer-subsidized crop and flood insurance programs could rise substantially in coming decades due to climate change.
Whole-farm crop insurance available for 2015 crops
A new crop insurance policy, whole-farm revenue protection, is available for 2015 crops, said USDA's Risk Management Agency. It says the new policy "makes crop insurance more affordable for producers, including fruit and vegetable growers and...
Drought-damaged Plains lead US in crop insurance payments
Three states in the Great Plains - Texas, Kansas and Oklahoma - account for nearly half of crop insurance indemnities paid so far this year, say USDA data.
Price slump makes crop insurance pay-out possible
The harvest-time prices for corn and soybeans are significantly below the prices projected last spring, so there is a possibility of payments under crop insurance policies that assure growers of a portion of average crop revenue, said economist Gary Schnitkey of U-Illinois.
Orman appeals for farm vote in Kansas Senate race
Independent Greg Orman campaigned in typically Republican rural Kansas with the argument incumbent Pat Roberts doesn't keep the state's agricultural interests in mind, says the Associated Press.
First APH yield exclusion policies go to 2015 spring crops
Farmers will be able to buy crop insurance polices for crops planted in spring 2015 that allow them to get higher yield coverage by excluding catastrophic losses when they calculate average production, the government said.
Food and agriculture races to watch on Nov 4
From soda taxes in California to neck-and-neck Senate races in the heartland, an abundance of races of import for U.S. food and agriculture policy will be decided in the Nov 4 elections.
Crop insurance inefficient but popular, says analyst
The federally subsidized crop insurance program is an inefficient way to support growers and a drain on taxpayers, says a critique in Choices, the journal of agricultural economics.
More attractive crop insurance premium for diversified farms
Operators of diversified farms will see more affordable rates for crop insurance under the new Whole Farm Revenue Protection policy, said USDA's Risk Management Agency.
Deere weighs whether to sell crop insurance arm
The world's largest farm equipment maker, Deere and Co., hired Citigroup to help it decide whether to sell its crop insurance wing, says Insurance Journal. Deere has sold an irrigation unit and its interest in a landscaping business in the past year. Insurance Journal quoted a Deere spokesman as saying, "While crop insurance provides a unique and important touch point with our agricultural customers, we have determined that the federal crop insurance program itself is not core to John Deere.” Recent droughts and a decline in commodity prices has made insurance less profitable.
Farmers to get $10 billion in economic assistance
President Biden signed a stop-gap government funding bill over the weekend that calls for speedy payment of $10 billion to farmers to buffer lower commodity prices and high production costs. Congress voted to fund the government through March 14 after a fight that showed the limits of President-elect Trump's control over Republican lawmakers.