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Jesup, IA | I bought a little of this type of product last year. When the summer rally came last year, it did not stay high enough, long enough to really work. I received indemnity. But only about 15 cents per premium dollar spent.
So I guess what I'm saying is that when you think about the product, remember it just averages prices over a different, longer period. It does not trigger on a "best" price. There is a big difference in these two things.
That said, there were crop ins products sold in the 2013 and 2014 that started averaging prices over a much earlier and longer period that paid generously. I believe I was even offered one that would have guaranteed $11 beans in 2015.
But JMHO, I'd rather spend $15 per acre on a call spread than $10 in fancy crop insurance. | |
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Crop Insurance, Price Flex
