The farmdoc Crop Insurance section offers iFARM online tools including the Premium Calculator, Payment Evaluator and Price Distribution Tool. These tools are updated annually during the Spring crop insurance election period.
Latest in Crop Insurance
The Spring 2020 Crop Insurance Tools were released on March 1. This includes the iFarm Premium Calculator, Payment Evaluator and Price Distribution tool available online and the FAST Decision Tool available as an Excel spreadsheet.
Crop Insurance Tools
The 2020 iFarm Crop insurance Premium Calculator allows users to develop highly customized estimates of their crop insurance premiums, and compare revenue and yield guarantees across all available crop insurance products and elections for their actual farm case.
The 2020 iFarm Crop Insurance Payment Evaluator provides helpful information to producers comparing costs and risk reductions across their available crop insurance alternatives.
The iFARM Price Distribution Tool uses current option market prices to derive estimates of the probability distribution of prices at the expiration of an underlying corn and soybean futures contracts.
Calculates premiums, evaluates insurance payments, and provides historical data useful when making crop insurance decisions for multiple crops. Estimates are for crops in states that are harvested in 2020.
Prevented Plant Impacts on 2019 Illinois Grain Farms Incomes
In 2019, many farmers in Illinois had prevented plant (PP) acres, acres that couldn’t be planted due to excessive moisture throughout the planting season. Previous analyses indicated that taking PP was an economically better alternative than planting. Even given its…
Expected Harvest Prices for Corn in 2020
We developed a statistical model that projects the 2020 harvest price for corn, given a national corn yield and average of May futures prices. The harvest price is used in crop insurance. The current U.S. yield estimate from the U.S.…