Agricorp pays out $113.6 M in Ontario for the big three

GUELPH — Even though the 2022 crop yields were slightly above average for Ontario corn and soybeans – and 15 % above average for wheat – there’s always crop failure and many farmers are grateful for crop insurance.

As of early April, Agricorp paid out $113.6 million in crop insurance in Ontario for the big three: corn, soybeans and wheat. Last year at this time, Agricorp paid out $27.4 million in Ontario for loss claims for corn, soybeans and wheat. The annual payout from 2016 to 2020 was on average just over $144 million.

“More than 14,000 Ontario farmers count on (crop insurance) every year to offset financial shortfalls,” said Agricorp communications manager Stephanie Charest, adding that rainfall — too much or too little — is often the biggest contributing factor to reduced yields or production losses.

Of insurance claims for all crops, 87 % were paid for yield or other loss, 9 % were paid for replanting and 4 % were paid for unseeded acreage.

Overall in Ontario, Lambton County received the biggest claim pay-out for both corn and soybeans. Agricorp paid almost $7 million to Lambton County corn growers and almost $14 million to Lambton County soybean growers.

For winter wheat, Haldimond County saw the biggest financial shortfall and farmers there received $1.315 million from Agricorp. For spring wheat, the Rainy River region growers got the largest pay out at $171,000.

Here are the largest payouts in Eastern Ontario (all counties and regions east of Toronto):

Corn growers: Prescott-Russell ($1.061 million)

Soybean growers: Prescott-Russell ($5.531 million)

Winter wheat growers: Northumberland ($106,000)

Spring wheat growers: Prescott-Russell ($36,000) and Ottawa ($36,000)