Behind the Scenes

Crop insurance

Matt Ginder Risk management tools are more important than ever for those involved in production agriculture.  During our Illinois agribusiness tour we sure heard a lot about high corn, soybean and wheat prices as well as volatility in the market .  Matt Ginder, Vice President of Financial Services at 1st Farm Credit Services told me during our visit to his office in Bloomington that with commodity prices where they are today, crop insurance is more important than it has ever been in the past:

"One of the things that we stress to our customers is to use their crop insurance policies to help them take advantage of the profitable pricing opportunities that exist in today’s corn and soybean markets.  We also stress that they should protect their operation and the investment they are making in the 2008 crop.  With higher input costs, this growing crop requires a higher investment on the front end than any crop in recent history."

Ginder said crop insurance is more accepted now because the products have improved and education has improved. 

About 75% of the corn and soybean crops grown in Illinois are insured.  Listen to Managing For Profit with Matt Ginder on the Brownfield website.

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