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Derecho Storm Leveled Soybean and Corn Fields, Storage Tanks Across Midwest – Insurance Journal

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A storm packing hurricane-force winds last Monday impacted 37.7 million acres of farmland across the Midwest, including 14 million in Iowa, the Iowa Soybean Association said on Friday, citing estimates from the U.S. Department of Agriculture.

The toll from the derecho storm has worsened as farmers and grain handlers have spent the week assessing flattened corn fields and crumpled steel storage bins.

The USDA said the storm affected 8.18 million acres of corn and 5.64 million acres of soybeans in Iowa, according to the Iowa Soybean Association. The state agriculture department on Tuesday estimated a total of 10 million acres may have been impacted.

The storm affected 58,000 holders of crop-insurance policies with a liability of around $6 billion in Iowa, including $1.86 billion for soybeans, the Iowa Soybean Association said, citing data from the USDA’s Risk Management Agency.

The Risk Management Agency released the estimates to farm and commodity groups on Friday, Iowa Soybean Association spokesman Aaron Putze told Reuters. He said the information was intended to encourage farmers to assess their losses and file claims for crop insurance.

“We knew it was big, but…



Read More: https://www.insurancejournal.com/news/midwest/2020/08/16/579228.htm

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Source: https://www.insurancejournal.com/news/midwest/2020/08/16/579228.htm

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