Agriculture Roundup for Tuesday December 20, 2022

It was a busy year for the Canadian Crop Hail Association (CCHA).

With increasing input costs, inflation and stronger crop prices farmers bought a record-setting $10 billion in insurance coverage.

Insurance payments to prairie producers topped $265 million with producer premiums totaling more than $375 million.

The CCHA reported Saskatchewan had a 68 per cent loss ratio, compared to 133 per cent in 2021.

The final report of the season said farmers who waited to purchase hail coverage late in 2022 likely had a problem finding it due to the unanticipated 20 per cent increase in demand.

CCHA president Scott McQueen added producers should plan for their 2023 insurance needs early.

Higher diesel and fertilizer prices are squeezing farm profit margins ahead of the midterm elections. Farmers in Iowa and Kansas discuss rising harvest costs, the war in Iran and whether those pressures will change their votes. Peter Tubbs reports on the debate over farm input costs and the differing political responses across the Corn Belt.