Crop insurance can help many farmers deal with crop damage and low commodity prices this year.
With revenue protection crop insurance, most Iowa farmers have between $400 and $600 per acre as a guarantee for their planted 2018 corn and soybean crops. Farmers can use that revenue to help withstand crop losses due to yield declines or falling futures prices or both. Those potential crop insurance indemnity payments could prove important this fall when cash flow might be extremely tight.
Flooding, high winds and hail have damaged crops in some areas of Iowa. Export uncertainty due to the U.S.-China tariff tiff and trade uncertainty with other countries has contributed to lower commodity prices.
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