Farmers are in line for a “top-up” payment of up to 15 percent if they received a prevented-planting indemnity from crop insurers this year due to flooding or excessive rainfall, said the USDA on Thursday.
The wettest spring in a quarter-century may lead to the largest crop insurance payout since 2000 to farmers unable to plant corn and soybeans, said a university economist. He spoke ahead of a USDA report today that will project the impact of a cold and rainy spring on this fall’s harvest.
The USDA expects storm-ravaged farmers to file more than $1 billion in prevented-planting claims for fields they could not plant this year due to heavy rains and flooding, according to press reports.
Some growers may collect three or even four payments on land where they were unable to plant a crop this spring due to persistent rain and flooding, but no one is going to get rich off of it, said Agriculture Secretary Sonny Perdue on Wednesday.
The chairman of the House Appropriations subcommittee on agriculture said he opposes the administration proposal for a 17 percent cut in crop insurance funding.