Drought Could Spell Steep Crop Insurance Losses

NU Online News Service, July 5, 2:24 p.m EDT

WASHINGTON—Signs are emerging that severe temperatures and lack of rain may cause steep losses in the Midwest’s corn crop, but insurers remain hopeful that beneficial rains will fall and help crops in troubled areas of the country.

Moreover, “we won’t be able to get a full handle until the crop insurers, who deal directly with the farmers on this issue, report to us,” says the official.

At the same time, the July 1 USDA crop report paints a troubling picture for certain states.

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