Hard-pressed U.S. winter wheat farmers knew a bargain last September when they purchased crop insurance for this year's crop.
Early reports show massive shifts to revenue insurance products.
CRC now covers 51 percent of acres reported to date and 67 percent of the total insurance in force. The Revenue Assurance programs now also available in the southern plains have thus far captured an additional 7 percent of the insured acreage. APH stats reveal that many farmers are upgrading their crop insurance coverage from the 65 to 70 and 75 percent coverage levels, with 70 percent coverage making up over a quarter of acres insured. Acreage covered by the 70 and 75 percent coverage levels has more than doubled, while the 75 percent coverage level shows a 125 percent increase over 2001. With the new subsidies in place, many farmers now view the 75 percent coverage level as being the most cost-effective crop insurance option.