Minding Ag's Business
Marcia Zarley Taylor DTN Executive Editor
Wed Mar 5, 2014 12:49 PM CST

In cyclical businesses like farming, what goes up must come down--and it's usually market prices that adjust much faster than your cost of production. So the tailspin in commodity prices since 2012 is a poignant example of why crop insurance alone can't be the only safety net for farm income. It also reinforces why you seriously need to research options on the new farm bill's ARC and PLC programs.

As the accompanying chart shows, corn's crop insurance revenue guarantee (for those with a harvest-price adjustment) bounced around about 225% in the last decade. It peaked at $7.50/acre in 2012, but ...

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