weatherbill insurance

[aj]

Is anyone trying this insurance? It seemed kinda goofy at first but its really intriging. You can do pasture crops....whatever. I am trying it on wheat this year.

 

[Eberth]

All it basically is is gambling on weather derivatives, you could actually go to Vegas and do the same thing. I'm not a huge fan of it unless you like to gamble, but with the weather here in Kansas it doesn't sound like too bad of a deal really. I know some people who it paid off for this year.

 

[aj]

I locked in freeze damage only on the deal. Thats what could kill me if I continue to forward contract new crop wheat. But now I'm hearing its to dry to get wheat up around Kansas and south. So maybe wheat new crop will hit 12 $ I don't know.

 

[OKshorthorn]

aj....just south of you everyone is just upping there crop insurance policy to make some more money, drilling it and moving on. Nobody is really expecting much of a crop this year anyway with the drought.

 

[aj]

I think I am like 7 miles from drouthy conditions. We got 90 points of rain......just perfect for drilling wheat and 7 miles south they are dusting wheat in. 5 miles north of me....closer to Nebraska they have 110 bu dryland corn. My god if you guys don't get some relief this next year it ia going to be a blood bath!