January 28, 2019
This year, soybean yields across Ontario came in at an average of 53 bushels per acre. This is above the Production Insurance 10-year average of 45 bushels per acre. A dry June and July in most areas, followed by rain in August, contributed to these record high yields.
The yield map below shows soybean yields across Ontario for 2018.
How do higher yields affect program coverage?
Higher yields can lead to higher
Production Insurance coverage in future years, when producers need it.
Because Production Insurance coverage is based on a producer's individual yield history, an above-average yield raises a producer's average farm yield (AFY). The higher a producer's AFY, the higher the level of production Agricorp guarantees.
To learn more about average farm yields, read the
Average Farm Yield feature sheet.
How do higher yields affect premium rates?
Higher yields help keep base premium rates stable and can lead to individual premium discounts. Base premium rates for Production Insurance are set to reflect factors like past performance of the plan, changes to claim prices, and the level of the Production Insurance Fund, which is used to make claim payments.
Update on corn yields
While most of the 2018 corn crop is harvested, final Production Insurance yields for many producers are still unknown as they wait to determine the marketability of their crops affected by DON. As of January 18, 77 per cent of customers have reported their yields, with the average yield being 181 bushels per acre. This is above the Production Insurance 10-year average of 170 bushels per acre.
Agricorp will be working with customers over the winter to finalize their yields. In the few cases where this may not be possible, Agricorp will continue to work with those customers until their claims are resolved. This applies to claims for both corn in the field and in storage. The corn yield map will be available on agricorp.com in March.