A look at winter wheat yields, claims and renewals

​The 2015 harvest is complete, and 2016 planting is well underway. Now is a good time for Ontario’s winter wheat producers to review the outcome of last year’s crop as they make decisions about Production Insurance coverage for 2016. 

The great weather of late summer has continued into the fall and has provided optimal planting conditions for winter wheat. Last year’s wet weather disrupted fall harvest and planting, but winter wheat acreage is expected to return to normal this year, and Agricorp expects to insure roughly 700,000 acres across the province.

Agricorp mailed Production Insurance renewal packages for 2016 to winter wheat producers in early October, and now that planting season is wrapping up, it’s time to take the next step to secure coverage by reporting planted acres.

Reporting i​​s easy

Producers can report their winter wheat acres by signing in to agricorp.com or using the new shortcut at agricorp.com/acreage. The online reporting tool provides round-the-clock reporting convenience that lets producers submit their acreage reports anytime, anywhere. To start reporting, customers only need their Agricorp ID.

The final date to report winter wheat acres is now November 8. This date was changed last year when a number of deadlines for fall-seeded crops were adjusted to better align with advancements in winter wheat production practices.

Accurate reportin​​g gives producers the right coverage

Reporting acres on time is important for maintaining coverage, but reporting those acres accurately is important for making sure producers get, and pay for, the coverage they need. If producers report too many acres, they may pay too much premium; if they report too few acres, they may not receive the right compensation in the event of a claim. It’s important to report acres on time, but also to get it right. Accurate reporting is also a requirement for participation in Production Insurance.

Report damage rig​​ht away 

It’s important to keep Agricorp informed. If crops are damaged, producers should contact Agricorp immediately. Staff will discuss program coverage, explain options and guide producers through the claims process.

2015 ha​​​rvest at a glance

In 2015, Agricorp insured nearly 5,000 customers with about 460,000 acres of winter wheat, worth more than $200 million in liability.

Agricorp pays winter wheat claims in September once harvest is complete, producers have reported their final yield and the floating claim price is available. For 2015, Agricorp has paid nearly $5 million for reseeding and has approved $6 million in claims to cover production loss to date.

Fixed and floating claim prices for the 2015 harvest are listed below. The fixed claim price is set at renewal time, providing a lower and set value, which provides a lower premium cost alternative to floating claim price. The floating claim price is set after harvest using market prices from July and August, and is designed to compensate customers at current market prices. 

For more information about claim prices, visit the Production Insu​rance​ section on agricorp.com.