SAO PAULO, Brazil (DTN) -- Antonio Galvan has never insured his soybean crop.
Much like most of his fellow Brazilian farmers in Mato Grosso, he doesn't think it's worth it.
"We are lucky that we don't have droughts up here. Insuring yields at the premiums offered is just throwing money away," he said from his 6,000-acre farm in Sinop, northern Mato Grosso.
"People only get insurance when the banks make it a condition of credit," he said.
However, if you offered to insure his revenues at a decent premium he would rip the policy right out of your hand.