Shelbyville and Niantic
Farming is a risky business, and for some, crop insurance is one thing producers can truly count on.
The weather is unpredictable and crop markets uncontrollable. In this volatile business environment, it is vital that farmers have a safety-net they can count on. “We need crop insurance to protect us in case life throws us a hiccup. It’s a part of that risk management and protection plan that allows farmers to take action during the growing season, knowing that they’re protected,” said Jack Young, crop insurance vice president at Farm Credit Illinois.
Elliot Uphoff is a farmer in Illinois who has first-hand knowledge of the importance of crop insurance. Recently, his farm underwent an unpredictable disaster, leaving his corn at 60 bushels an acre. “We had some fields better and some fields a lot worse, but we had almost a complete loss. However, because of crop insurance, it turned out to be a good year.”
Edward and Katie Leonard of Leonard Farms had a similar experience. Edward said, “In 2012, it really didn’t rain too much... the yields were just not there. However, knowing that we had insurance on it, that there was at least a minimum there and we weren’t going to have a zero” that made all the difference.
Providing this safety-net for farmers is a top priority for Farm Credit Illinois, an institution owned cooperatively by its farmer-customers. “We’re not here to maximize our revenue, we’re here to maximize our members’ revenue. Our goal is to help that member identify the risk they want to manage and help them manage it as cost-effectively as they can,” said Tom Tracey, president and CEO of Farm Credit Illinois. Tom and his colleagues are dedicated to supporting their farmers and providing that little bit of certainty in an otherwise unpredictable business.