Corn and soybean producers faced dry weather in some areas last summer and yields varied across the province, but where faced low yields, Production Insurance helped out.
A couple of areas were affected more severely by the dry weather and experienced yields lower than the historical average. Other parts of the province saw the highest yields they’ve seen in nearly a decade. But overall, provincial average for yields reported in 2016 were similar to the average over the past 10 years.
Production Insurance is designed for situations like this
Affected farmers who have coverage received payments if they experienced a yield loss. Production Insurance payments made to cover 2016 losses will total roughly $130 million.
Agricorp helped producers through challenging crop conditions by working with them one-on-one, out in the fields and at kitchen tables, answering questions about program coverage and helping them through the claim process.
When the claims came in, they were processed quickly. Payments were sent to customers in less than seven days on average.
2016 Harvest at a glance
For more information about average farm yields, read the Average Farm Yield feature sheet.
Looking ahead to 2017
Producers who are already enrolled in Production Insurance can expect a renewal notice in March. Coverage is based on last year’s coverage, but can be changed by contacting Agricorp by May 1. Producers who are interested in signing up for Production Insurance should contact Agricorp to complete an application before May 1.
Details and rates for 2017 will be available in early March.