crop insurance

Ohio State University / http://agcrops.osu.edu/corn

Climate change could double losses to crops and property by the year 2100 according to a recent report from the non-partisan Government Accountability Office. When farmers lose more crops, it costs taxpayers more to subsidize their crop insurance.

Quentin Hope

Payments to farmers under the new farm bill could soar as high as $8-10 billion for this year’s crop, according to some economists quoted in an article by Reuters. That would be more than double the forecast by the Congressional Budget Office and more than 10 times the U.S. Department of Agriculture's working estimate.

David Kosling/USDA

When U.S. Sen. Debbie Stabenow announced passage of the Farm Bill in February, she echoed a refrain from a car commercial.

“This is not your father’s Farm Bill,” she said.

While Stabenow, the Michigan Democrat who leads the Senate Agriculture Committee, was referring to what proponents heralded as “reform” of some programs, her remarks were accurate on another score. The massive Farm Bill, which will spend $956 billion and set U.S. food policy for the next decade, is no longer the purview solely of agricultural interests.

Quentin Hope

  At $200 per acre, Trego County, KS topped the list of High Plains counties in per acre crop insurance payments in 2012.  Other top counties were Wallace County, KS at $157 per acre and Rawlins County, KS at $127 per acre.  All three are in Northwest Kansas.  At the bottom is the list was Hemphill County, TX in the northeast corner of the Panhandle with just $1 per acre on only 13,400 planted acres.

What $154 million in payouts means to a county

Sep 4, 2013
Darrell Hoemann/The Midwest Center for Investigative Reporting

Farmer Doug Wilson has been buying crop insurance since 1980. 

“You carry home insurance, hoping your house doesn’t burn down. We carry crop insurance, hoping our crops don’t burn down,” Wilson said on a sweltering day in mid-August as he walked among the healthy 8-foot corn stalks in one his fields in central Illinois. “But last year, they burned down — kind of literally.”

www.nebraska.tv

Farmers across the country received a record breaking 17.3 billion dollars in federal crop insurance payouts after last year’s drought.  While the payments were critical for the financial well-being of farmers, the National Resources Defense Council has issued a report critical of the structure of the Federal Crop Insurance Program (FCIP).

Now that the Senate has a farm bill (technically the Agriculture, Reform, Food and Jobs Act of 2013)ready and waiting for reconciliation with a House version, it’s a good time to look at how some of what the Senate passed may play out in the House—and what it all means for the general public as well as for farmers.

Texas A&M AgriLife Research photo by Kay Ledbetter

The U.S. Senate approved a new comprehensive farm bill Monday, its plan for everything from food and nutrition assistance to disaster aid for livestock producers to crop insurance for farmers. But before you go popping champagne corks and celebrating the creation of five-years of agricultural policy, know this: The U.S. House has yet to weigh in.

USDA Risk Management Agency

Nearly $17 billion has been paid out to farmers in crop insurance indemnities to cover the losses from the catastrophic drought of 2012, the government reported this week.