U.S. drought prompts record crop insurance payout

washington / reuters Crop insurers have paid a record $11.6 billion to U.S. growers in compensation for losses due largely to widespread drought in 2012. Some analysts expect indemnities to reach $20 billion this year, nearly double the old record set in 2011. That would mean steep losses as insurers collected just over $11 billion

Corn, soybean crop insurance might expand to new areas

The Manitoba government is exploring whether it can expand crop insurance coverage for corn and soybeans to more parts of the province, Agriculture Minister Ron Kostyshyn told farmers at Ag Days Jan. 15. “I want to assure the audience today our department is in the process of investigating expanding potential areas for coverage, but we’re


U.S. crop insurance a post-election target

The federal government will likely shell out $15 billion or more for its share of crop losses caused by drought

Reuters – Federally subsidized crop insurance will be a big target for U.S. lawmakers looking to cut the budget deficit in the lame-duck session of Congress that opened recently after a status quo general election. But lawmakers aren’t expected to break their deadlock over enacting a five-year, $500-billion Farm Bill covering a wide range of

Organic farmers reject call to self-insure against GM contamination

Organic growers and food safety advocates are condemning an advisory report to the Agriculture Department claiming its recommendations would be costly for farmers who want to protect their conventional crops from being contaminated by genetically modified varieties. The USDA is studying how biotech agriculture could best “coexist” with organic and conventional farming, but critics slammed


KAP calls for review of crop insurance to address deductibles, other concerns

Crop insurance will be increasingly important to Manitoba farmers because of recent cuts to Agri-Stability and AgriInvest, says Keystone Agricultural Producers vice-president Dan Mazier. The Manitoba government needs to understand that, he said at KAP’s General Council meeting last month. Delegates passed a resolution calling for a review of crop insurance. While most Manitoba farmers

U.S. Farm Bill could be delayed until April 2013

Reuters / The U.S. Congress could delay passage of a new five-year Farm Bill until spring planting given the full plate of legislation needed after the election to avoid a fiscal cliff with its mandatory U.S. budget cuts, a top farm policy expert said Nov. 5. “My prediction is that we will get a Farm


Crop-insurance tab for U.S. drought could top $15 billion

Reuters / U.S. taxpayers could pay a record $15 billion to subsidize the privately run crop insurance program in the wake of this year’s devastating drought. The program’s runaway costs are in focus as Congress looks for ways to cut government spending, making crop insurance a bigger target for reforms. Precise estimates won’t be available

Another record shattered as Manitoba soybean acreage soars

It’s no surprise why: Low production costs, high prices, 
improved varieties and availability of crop insurance is making “beans” a big money-maker

Manitoba farmers planted more soybeans in 2012 than ever before — but the record won’t last long. “If things go as planned, with a good spring and the seed supplies are there, I think reaching the million mark won’t be too difficult next year,” said Dennis Lange, a farm production adviser based in Altona. This


U.S. farm law expires amidst Congressional standoff

Reuters / Expiration of U.S. farm law on Oct. 1, shutting off dairy supports and putting 2013 crop subsidies in limbo, was expected to cause pain for some farmers and frustration for many, but programs like food stamps and crop insurance will roll on, analysts said. U.S. government funding is assured through March 2013 for

Record-busting winter wheat crop eyed

Manitoba farmers have set planting records two years in a row, 
but this fall’s seeding could far exceed that

Manitoba farmers are getting pretty fond of winter wheat and the head of Winter Cereals Manitoba hopes the romance continues to build. Farmers in the province grew a record 593,906 acres of winter wheat this year (double the 10-year average) and conditions are right for even more to be planted this fall, said Jake Davidson.