An extension farm management specialist suspects most farmers still mulling over crop insurance for 2021 are suffering from “sticker shock.”
Steve Johnson with Iowa State University says premiums have risen because projected spring prices for corn are nearly 20 percent higher than last year and soybeans are 30 percent higher.
“Oh my gosh, I didn’t know I was going to pay that much for revenue protection. That’s the group that’s hurting.”
But with the deadline looming, he does not expect many farmers to pass on crop insurance because of the higher premium.
