Strong 2023 yields seen in winter wheat map

September 18, 2023

Many Ontario winter wheat farmers with Production Insurance coverage saw yields well above average this year.

Winter wheat harvest for 2023 is now complete, and most Production Insurance customers have reported their yields to Agricorp. Soft red winter wheat yields reported by Production Insurance customers averaged around 100 bushels per acre, which is roughly 113% of the provincial average farm yield (AFY) for farmers in this program.

For overall provincial crop statistics, see the Ontario Ministry of Agriculture, Food and Rural Affairs statistics site.

How strong yields affect your coverage

Above-average yields can have a positive impact on Production Insurance coverage by raising a farm's AFY, which provides farmers with higher coverage when they need it most. Higher coverage means more protection from yield reductions and crop losses caused by factors beyond a farmer's control, including adverse weather, disease, pests, wildlife, and other uncontrollable natural perils. 

Floating claim prices set for winter wheat

The survey period for winter wheat has ended, and Agricorp has set the 2023 winter wheat floating claim prices for Production Insurance.

The floating claim price for winter wheat is set at harvest using market prices from July and August and is designed to compensate customers at current market prices. The floating claim price option usually produces a higher claim price at harvest. This year, lower market prices for soft red winter wheat have resulted in a floating claim price that is less than the fixed claim price.

Fixed claim prices are set at renewal time, are based on forecasted market prices, and are a lower-cost alternative to floating claim price options.

For 2023, customers in a claim position will be compensated at the following prices: