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| It appears to me that 85% CRC/RA is cost prohibitive, unless I am absolutely certain that:
a. the market will be significantly lower in the fall, and/or
b. that I will have a production shortfall, and on most units.
The few times 85% looks more appealing over 75% and 80% levels are when combining into enterprise units, and possibly using the BYE discount where applicable.
I do still like 90% GRIP, because it provides such a tremendous price and widespread yield loss floor, for less cost than an 85% CRC/RA policy (if I am confident I'll trend with the county), although I would sure look at "buying down" the price to cheapen the premium.
U of IL farmdoc has a good independent site to evaluate different levels of coverage for several states.
The web site is: http://www.farmdoc.uiuc.edu/cropins/cropinstoolsmain.asp?num=3
Just some opinions, good luck in 08.
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Would you buy puts?
