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Articles by Cory Walters
Irrigation water availability and risk management considerations for 2026 crops
Pathfinder Reservoir walkway along the top of the dam. Photo by Chabella Guzman Water-RFP-022326 Current snowpack in the headwaters of the North Platte River Basin continues to be below average. Wyoming reservoir water levels on the North Platte River are Pathfinder at 33 percent full, requiring 722,530 acre-feet to fill. Seminoe is 32 percent full, requiring 689,042 acre-feet to fill.
Irrigation water availability, risk management considerations for 2026 crops
Current snowpack in the headwaters of the North Platte River Basin continues to be below average. Wyoming reservoir water levels on the North Platte River are Pathfinder at thirty-three percent full, requiring 722,530 acre-feet to fill. Seminoe is thirty-two percent full, requiring 689,042 acre-feet to fill. While Initial weather forecasts indicate the potential for more moisture in the next few weeks, many farmers are concerned about irrigation water availability for the 2026 Crop Year.
Kyle Larson wins NASCAR Cup Series Championships 2025
The NASCAR Cup Series Championship 2025 was held on November 2nd at the Phoenix Raceway. Spectators watched from the stands, infield, and camping grounds to witness who, of the four eligible, would take home the championship title. From the infield, fans could watch a concert by Jordan Davis and see all of the participating drivers before the race.
Cropland acres versus base acres in Nebraska
In the landscape of U.S. agriculture farm policy, two key terms are often misunderstood or overlooked: cropland acres and base acres. While cropland and base acres may sound similar, each has distinct meanings and implications, particularly in how farm level payments are determined. Understanding the difference between cropland acres and base acres is critical for farmers and policymakers alike.
Strategically Insuring Your Farm: The Rise of Micro-Captive Insurance
By Cory Walters Over the past 25 years, producers have operated within the modern crop insurance regime, gaining valuable insights into understanding the essence of how insurance operates. The insurance market, including crops, property, and casualty, has experienced changes, especially in the past couple of years. Crop insurance per-acre premiums have risen and contract offerings have expanded, contributing to further complexity.
Mapping agents: A spatial economic analysis of agent location in the Federal Crop Insurance Program
1 INTRODUCTION The federal crop insurance program (FCIP) insures nearly $177 billion in liability, covering over 534 million acres of U.S. farmland annually (USDA Risk Management Agency 2024). Crop insurance is delivered through a cooperative partnership between the Federal Crop Insurance Corporation (FCIC) and private insurance companies. The program is managed by the United States Department of Agriculture Risk Management Agency (USDA RMA) on behalf of the FCIC.
Historical Corn Price Evolution Implications for Pre-harvest Hedging
By Cory Walters and Richard Preston This article was first published in the Department of Agricultural Economics' "Cornhusker Economics" series on Nov. 3, 2022. Commodity markets evolve through information provided by participating buyers and sellers and throughout this process the conditions in which commodity markets work are revealed.
Close proximity to ethanol plants offers price advantage
Since the authorization of Renewable Fuels Standard, U.S. ethanol production capacity has grown from 4.4 billion gallons per year in 2005 to 17.5 billion gallons in 2021, with the total number of U.S. ethanol plants increasing from 81 to 201, according to 2021 statistics from the U.S. Energy Information Administration.
Protect farm assets by updating property insurance
Recent weather events have brought to light the importance of having adequate property insurance coverage. Not having enough property insurance could harm your operation's financial position when a bad event happens. This article focuses on two main points: how to think about protecting your wealth and questions to ask your insurance provider. Thinking about risk Capital assets (machinery, equipment, buildings) are a crucial piece of your wealth.
Hedging Your Average Crop Price Using Seasonals
By Cory Walters, Richard Preston Every year the mantra “marketing is important” will be repeated from different points of view. Marketing services claim that pre-harvest marketing (hereafter referred to as hedging) can help farmers increase their bottom line, bank loan officers often imply that hedging can reduce price uncertainty, and agricultural economists join in by suggesting that hedging is a best management practice.
1st Quarter 2022 | Choices Magazine Online
Eric D. Hunt, Cory Walters, Toni Klemm, Iyore Eronmwon, and Judah Cohen JEL Classifications: Q13 Keywords: Analog, Corn, Forecast, Hedge, Revenue, Yield Citation: Hunt, E.D., C. Walters, T. Klemm, I. Eronmwon, and J. Cohen. 2022. "Using Analog-Based Seasonal Weather Forecasts to Improve Grain Marketing Decisions" Choices. Quarter 1.
Suggestions for Planning for Rising Fertilizer Prices and Bull Markets
By Jessica Groskopf and Cory Walters Rising fertilizer and input prices are the hot topic of conversation in rural coffee shops across the Corn Belt. However, there seems to be little banter about how to make crop-input purchase decisions heading into 2022. So what should savvy farmers be discussing, in addition to rising costs, to make the best purchase decision? A large piece missing from the discussion is an individual’s personal financial scenario.
Nebraska: Planning for Rising Fertilizer Prices, Bull Markets
Rising fertilizer and input prices are the hot topic of conversation in rural coffee shops across the Corn Belt. However, there seems to be little banter about how to make crop-input purchase decisions heading into 2022. So what should savvy farmers be discussing, in addition to rising costs, to make the best purchase decision? A large piece missing from the discussion is an individual’s personal financial scenario. Your financial standing might be different than your neighbor’s.
Suggestions for planning for rising fertilizer prices and bull markets
By: Jessica Groskope and Cory Walters - Updated: 6 days ago Posted Dec 2, 2021 SCOTTSBLUFF – Rising fertilizer and input prices are the hot topic of conversation in rural coffee shops across the corn belt. However, there seems to be little banter about how to make crop-input purchase decisions heading into 2022. So what should savvy farmers be discussing, in addition to rising costs, to make the best purchase decision?
Suggestions for planning for rising fertilizer prices and bull markets
by Jessica Groskopf and Cory Walters Nebraska Extension Rising fertilizer and input prices are the hot topic of conversation in rural coffee shops across the corn belt. However, there seems to be little banter about how to make crop-input purchase decisions heading into 2022. So what should savvy farmers be discussing, in addition to rising costs, to make the best purchase decision? A large piece missing from the discussion is an individual’s personal financial scenario.
Nebraska: Production Cost Increases, Expected Profits, Riskier Financial Environment - Podcast
Input prices for the 2022 crop year are poised to be substantially higher than recently experienced. The increases in input prices will undoubtedly increase production costs, however, the actual financial effect on your farm is not entirely clear. The lack of clarity can negatively influence input use decision-making in this period of high input prices. To clear up the picture, you must run the numbers through production budgets.
2022 Cost of Production Increases, Expected Profit and Navigating a Riskier Financial Environment
By Cory Walters Input prices for the 2022 crop year are poised to be substantially higher than recently experienced. The increases in input prices will undoubtedly increase production costs, however, the actual financial effect on your farm is not entirely clear. The lack of clarity can negatively influence input use decision-making in this period of high input prices. To clear up the picture, you must run the numbers through production budgets.
The role of premium subsidies in crop insurance
Loading metrics Open Access Peer-reviewed Research Article Charalampos Mavroutsikos, Konstantinos Giannakas , Cory Walters Charalampos Mavroutsikos, Konstantinos Giannakas, Cory Walters Published: April 13, 2021 https://doi.org/10.1371/journal.pone.0250129 Figures Abstract This study develops a novel framework of heterogeneous producer attitudes towards risk to analyze different, stated and revealed, roles of crop insurance premium subsidies and underlying policy objectives of the government.
Grain Marketing Lingo: Common Phrases
By Jessica Groskopf and Cory Walters Commodity marketing has its jargon. Common phrases you may hear are “nearby,” “deferred,” “new crop,” and “old crop” contract. Before diving into these terms, recall that a portion of the corn, soybeans,and hard red winter wheat cash price is traded on a futures market, with the difference between cash and futures being basis. The existence of a futures market allow multiple futures contracts for the same commodity to be traded simultaneously.
Prepare for corn futures prices under $3 per bushel
The market rally after the June 30 USDA acreage report has come and gone. So, now what? The period of late July into early August, when the crop size is becoming clearer, occurs when the December corn futures price starts to take a direction, up or down. In most years, prices will tip slightly down as crop size and use end up around what was expected. Dips can be larger because of reductions in use or larger crops.
Preparing yourself for corn under $3 per bushel
The market rally following the June 30 USDA Acreage report has come and gone. So, now what? This article will discuss the price probabilities for the last half of 2020 and how to prepare for farm survival. The period of late July into early August, when the crop size is becoming clearer, occurs when the December corn (CZ) futures price starts to take a direction, up or down. In most years, prices will tip slightly down as crop size and use end up around what was expected.
COVID-19, farm survival and decision-making
COVID-19 is causing us to experience events that have always been possible, just not yet observed. For farmers, these events may have a big negative financial impact, or they may not. The impact on each individual farm will differ depending on how that individual farm has prepared for rare, financially devastating events. Preparing for unseen events represents a logical approach. We call this approach "stress testing." Just because you have not seen an event, it does not mean it does not exist.
Reaching out is Nebraska Strong
By Glennis McClure and Cory Walters Everyone confronts times of stress. Know that whatever challenges you have faced, you are not alone. The 2019 weather conditions caused many agricultural producers to experience extremes leading to possible lingering and chronic stress, including financial stress. Many Nebraskans experienced the direct destruction of the March flood. Calving season was challenging with the blizzard that preceded the flood.
Tips for TAPS: 2020 Winter Wheat Marketing Strategies
By Jessica Groskopf, Cory Walters Since the start of the 2019 UNL-TAPS wheat marketing competition, the July 2020 Kansas City Hard Red Winter Wheat Contract has rallied over $0.70 per bushel. So, what are some marketing strategies given the current market price? The answer to this question depends on your expectation of where the price will go from here and your farm characteristics.
Price volatility brings marketing opportunities, with risks
By Cory Walters and Jessica Groskopf Most of the marketing news recently has focused on the accuracy of USDA reporting. Although this topic merits conversation, the debate doesn't help you market grain. The amount of uncertainty about national production and your own farm yield has put farmers in a tough place. Should you be selling growing crops now or waiting? According to the July 28 USDA Crop Progress report, 58% of U.S. corn is silking, well behind the 2014-18 average of 83%.
Looking at crop insurance coverage for those affected by canal tunnel collapse
As repairs continue on the tunnel that collapsed on the Goshen/Gering-Fort Laramie Canal, unanswered questions remain about whether crop insurance will cover crop losses stemming from the loss of irrigation water. Crop Insurance provides protection against “unavoidable, naturally occurring events.” Due to the complexity of the Goshen/Gering-Fort Laramie situation, it is unknown if crop insurance will cover crop loss.
Crop insurance coverage for those affected by Goshen/Gering-Ft. Laramie canal tunnel collapse
Jessica Groskopf and Cory Walters Regional Agricultural Economist and Assistant Professor University of Nebraska-Lincoln Water blew out the sides of this irrigation canal after another portion of the system — a tunnel — collapsed and caused water to back up. Photo courtesy office of Wyoming Gov.
Making crop marketing plans that consider yield uncertainty
By Robert Tigner, Jessica Groskopf and Cory Walters Because of large global ending stocks of corn and soybeans, news of flood damage has not affected the futures price of these commodities as one might have expected. This is a challenge for farmers facing flood damage, as their revenue will be affected by both lower-than-usual yields and possibly lower prices, and costs incurred because of flooding.
Options for Failed Wheat
By Jessica Groskopf and Cory Walters Farmers who have lost wheat because of harsh winter weather should consider the crop insurance implications of planting another crop. This article examines crop insurance considerations for failed winter wheat and assumes the producer selected the “Winter Coverage Endorsement.” First, report any losses to your crop insurance agent within 72 hours of noticing a potential loss. Your crop insurance agent will send an adjuster to appraise the damage.
Agricultural economists study how moral hazard affects crop insurance
New research by agricultural economists at the University of Nebraska–Lincoln challenges traditional thinking on federal crop insurance. Since the inception of the federal crop insurance program, researchers have questioned whether the program causes moral hazard in input usage, meaning that if producers are shielded from yield risk via crop insurance, they respond by increasing low-yield risk exposure by applying fewer inputs.
How moral hazard affects crop insurance
LINCOLN — New research by agricultural economists at the University of Nebraska–Lincoln challenges traditional thinking on federal crop insurance. Since the inception of the federal crop insurance program, researchers have questioned whether the program causes moral hazard in input usage, meaning that if producers are shielded from yield risk via crop insurance, they respond by increasing low-yield risk exposure by applying fewer inputs.
How moral hazard affects crop insurance
LINCOLN — New research by agricultural economists at the University of Nebraska–Lincoln challenges traditional thinking on federal crop insurance. Since the inception of the federal crop insurance program, researchers have questioned whether the program causes moral hazard in input usage, meaning that if producers are shielded from yield risk via crop insurance, they respond by increasing low-yield risk exposure by applying fewer inputs.
How moral hazard affects crop insurance
LINCOLN — New research by agricultural economists at the University of Nebraska–Lincoln challenges traditional thinking on federal crop insurance. Since the inception of the federal crop insurance program, researchers have questioned whether the program causes moral hazard in input usage, meaning that if producers are shielded from yield risk via crop insurance, they respond by increasing low-yield risk exposure by applying fewer inputs.
How moral hazard affects crop insurance
LINCOLN — New research by agricultural economists at the University of Nebraska–Lincoln challenges traditional thinking on federal crop insurance. Since the inception of the federal crop insurance program, researchers have questioned whether the program causes moral hazard in input usage, meaning that if producers are shielded from yield risk via crop insurance, they respond by increasing low-yield risk exposure by applying fewer inputs.
Are Input Decisions Affected by Crop Insurance? - New Study
Are Input Decisions Affected by Crop Insurance? – New Study Posted on November 29, 2018November 29, 2018 By Cory Walters, University of Nebraska-Lincoln Extension Grain Economist New research by agricultural economists at the University of Nebraska–Lincoln challenges traditional thinking on federal crop insurance.
How Crop Insurance May Soften the Blow of Low Quality Soybeans
Crop insurance is typically thought of as protecting against low yields and/or revenue. However, crop insurance also provides some protection against low quality. This fall’s weather could trigger indemnity payments due to low quality. The following discussion describes how crop insurance adjusts soybean yield due to quality for a particular county. While I have not found any differences in discount factors among counties, it is possible.
How Crop Insurance May Soften the Blow of Low Quality Soybeans
Crop insurance is typically thought of as protecting against low yields and/or revenue. However, crop insurance also provides some protection against low quality. This fall’s weather could trigger indemnity payments due to low quality. The following discussion describes how crop insurance adjusts soybean yield due to quality for a particular county. While I have not found any differences in discount factors among counties, it is possible.
How Crop Insurance May Soften the Blow of Low Quality Soybeans
Crop insurance is typically thought of as protecting against low yields and/or revenue. However, crop insurance also provides some protection against low quality. This fall’s weather could trigger indemnity payments due to low quality. The following discussion describes how crop insurance adjusts soybean yield due to quality for a particular county. While I have not found any differences in discount factors among counties, it is possible.
How Crop Insurance May Soften the Blow of Low Quality Soybeans
Crop insurance is typically thought of as protecting against low yields and/or revenue. However, crop insurance also provides some protection against low quality. This fall’s weather could trigger indemnity payments due to low quality. The following discussion describes how crop insurance adjusts soybean yield due to quality for a particular county. While I have not found any differences in discount factors among counties, it is possible.
Location matters in determining risk management plan
By Cory Walters Farm financial health can be improved through better understanding of market forces influencing the optimal crop insurance contract and preharvest hedging. One challenge is assessing risk exposure, since experiencing risk is, by default, rare. A producer’s location is a primary factor influencing risk exposure.
Crop insurance may soften blow of low-quality soybeans
By Cory Walters Crop insurance is typically thought of as protecting against low yields or low revenue. However, crop insurance also provides some protection against low quality. This fall's weather could trigger indemnity payments due to low quality. This article describes how crop insurance adjusts soybean yield due to quality for one particular county. The final outcome depends on what the county actuarial documents stipulate.
Nebraska Soybeans: Crop Insurance May Soften the Blow of Low Quality
Mature soybeans hit hard by wet weather before harvest. Photo: University of Nebraska-Lincoln Crop insurance is typically thought of as protecting against low yields and/or revenue. However, crop insurance also provides some protection against low quality. This fall’s weather could trigger indemnity payments due to low quality. The following discussion describes how crop insurance adjusts soybean yield due to quality for a particular county.
How Crop Insurance May Soften the Blow of Low Quality Soybeans
Crop insurance is typically thought of as protecting against low yields and/or revenue. However, crop insurance also provides some protection against low quality. This fall’s weather could trigger indemnity payments due to low quality. The following discussion describes how crop insurance adjusts soybean yield due to quality for a particular county. While I have not found any differences in discount factors among counties, it is possible.
Need to replant? Consider insurance issues
Recent adverse weather conditions may force some growers who have already planted to replant. If you believe replanting may in your best interest, check the replant provision in your crop insurance policy and immediately contact your insurance agent to get the paperwork started.
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