MASC pays out record forage claims for 2021

Mar 14, 2022

Manitoba Agricultural Services Corporation (MASC) says forage program payouts in 2021 totaled just over $36.3 million.

Product Support Manager David Koroscil says that's the largest amount seen under the program.

Included in that number is the Hay Disaster Benefit of $8.7 million.

He notes another $9.4 million was paid out for silage corn losses and $2.4 million for green feed losses.

"It definitely has an impact, as in any insurance program when there's losses. That will be reflected over time in potential increase in premium rates. In terms of the overall fund for the AgriInsurance program, we had a significant reserve balance heading into this year. That's helped offset the impact of the losses in general for all crops this year. Premiums are based on a 25-year period, so there will be an impact because of the losses this year, but that is spread out over time."

Koroscil says forage payouts in 2020 were about $7.2 million, which doesn't include silage corn and green feed.

Click here to see more...

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.