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Crop Insurance Claims Jump Due To Unusual Weather

Crop insurance claims have jumped this year due to wet weather in the Midwest and dry weather elsewhere, according to Bloomberg News research.

Bloomberg found claims so far have jumped 48 percent from last season. Corn has been the hardest hit crop, with corn farmers filing claims on 2.3 million acres -- up over half from last year's acreage.

Analysts generally agree the output will be reduced overall for 2015, but many are cautious when discussing the report, noting the crop season isn't over yet.

The tough weather and increased claims has lead companies like Wells Fargo to consider selling off their stake in crop insurance.

Read More:

  • Crop-insurance claims up 48 percent, Bloomberg reports (JournalStar)
  • Crop insurance claims jump in US after weather curbs planting (The Royal Gazette)
  • Wells Fargo explores sale of crop insurance business (CNBC)

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