Re: o/t it could always be worse/sweet corn averag

Posted by farmermatt on August 29, 2005 at 19:54:21 from (65.131.134.124):

In Reply to: o/t it could always be worse/sweet corn averages posted by thejdman01 on August 29, 2005 at 11:53:33:

Sounds like youre having a tough year. Not too great here in KS but we will have a crop. I do want to correct your thinking on crop insurance though (and no I dont sell it) Federal crop insurance is based on historical averages. Yes if you are a first time buyer your gaurantee is based on county HISTORICAL averages. Other wise you use your yield history. Im not sure of how many years it takes to get on your own yields.
Im a relativly new farmer, this is only my 5th crop year. I would not or could not be without insurance. I collected 18X my premium in 2002 had a small claim in 2003, and even had a replant claim this year that will cover my premium. Im not trying to brag about my poor performance over the last few year. LOL Im not aware of a bank who will lend money on a crop (which many young farms such as myself need) that is not insured. I have an uncle who tells me that good farmers dont need insurance. BS, easy for him to say from his engineering career in Chicago. Maybe he was on to something though, I have a good college degree so if not for those claims in my first few year, maybe Id be workin with him actually making some money LOL

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