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Crop Insurance Claims Jump Due To Unusual Weather

Bloomberg News released a study showing crop insurance claims have jumped 48 percent, but analysts remind the season isn't over yet.

Corn crops have been particularly hard hit by the wet Midwest 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)
Liz Leslie

Liz Leslie is a journalist based in Chicago. When she's not writing about food, she's likely eating food. Or dreaming about food.

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