Iowa crop losses top $1 billion
Last summer’s drought caused more than $1 billion in corn and soybean cross losses, according figures from the U.S. Department of Agriculture reported in The Des Moines Register.
The losses are covered through federally-subsidized corp insurance. The federal government subsidizes about 57 percent of the insurance premiums for Iowa corn and soybean crops.
Those payments were extended Tuesday by Congress as part of the Farm Bill extension running through next September.
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