Federal crop insurance claims have surged 200% year-over-year as the worst Midwest drought in 40 years devastates corn and soybean harvests across 12 states.
Drought Impact
- Claims filed: $18 billion (200% increase)
- Corn yield: down 35% from 5-year average
- Soybean yield: down 28%
- 12 states declared agricultural disaster areas
The USDA's Federal Crop Insurance Corporation covers approximately 90% of US cropland. Farmers pay subsidized premiums averaging $12/acre, with the government covering 60% of premium costs. Without this program, the drought would bankrupt thousands of family farms.
