Corn Crop Insurance Payout Up To $7.50 Per BushelDES MOINES, Iowa (AP) - The U.S. Department of Agriculture says farmers who chose to pay more to insure their crops at harvest prices will receive $7.50 per bushel for corn. That should be welcome news for corn farmers in Iowa, Illinois and Nebraska, the nation's three largest corn producers, respectively.
The Des Moines Register also reports that the harvest price payout for soybeans will be $15.39 per bushel. Farmers who elected to be covered by the less expensive non-harvest price coverage will receive the $5.68 per bushel for corn and $12.55 per bushel for soybeans. Those prices were set in March at the time of insurance sign-up.
USDA figures show crop-loss insurance payments through Oct. 29 totaled $3.5 billion nationally, including $1.63 billion for corn and $247.6 million for soybeans.
See other LocalNews news:15th District Congressional Candidates To Discuss Issues on WJBD Friday
Centralia Football Field Will Stay Within Budget
Marion County Finance Committee Finds Way To Offer Employee Health Insurance
Illinois GOP Files Lawsuit Over Poll Practices
Dix Man Receives Prison Time For Hacking Government Computers