No, I did not see it till you pointed it out. I know from talking to guys in years gone by that the banks often required certain customers who lacked in collateral relative to the operating loan to take out crop insurance even if it was the catastrophic 50% 500 dollar premium per crop unlimited acres. I am thinking once commodity prices recede from their historical highs that certain farmers will not be able to budget a huge increase in operating expense. Nobody knows for sure what will happen but there are guesses that unsubsidized costs for something on the order of 70 percent coverage may run in the neighborhood of 80 to 100 dollars an acre or more. I know JD Seller was on his bank's loan committee so I don't know if he or somebody else can comment.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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