• DATVF.ATLPHL
    1.643
    -0.074
    -4.3%
  • DATVF.CHIATL
    1.951
    0.018
    0.9%
  • DATVF.DALLAX
    0.880
    0.015
    1.7%
  • DATVF.LAXDAL
    1.501
    0.007
    0.5%
  • DATVF.SEALAX
    0.966
    -0.092
    -8.7%
  • DATVF.PHLCHI
    0.929
    -0.038
    -3.9%
  • DATVF.LAXSEA
    2.005
    0.035
    1.8%
  • DATVF.VEU
    1.508
    -0.031
    -2%
  • DATVF.VNU
    1.395
    -0.016
    -1.1%
  • DATVF.VSU
    1.191
    0.011
    0.9%
  • DATVF.VWU
    1.486
    -0.028
    -1.8%
  • ITVI.USA
    9,836.710
    -180.070
    -1.8%
  • OTRI.USA
    4.790
    0.100
    2.1%
  • OTVI.USA
    9,831.280
    -180.470
    -1.8%
  • TLT.USA
    2.410
    -0.010
    -0.4%
  • WAIT.USA
    150.000
    0.000
    0%
  • DATVF.ATLPHL
    1.643
    -0.074
    -4.3%
  • DATVF.CHIATL
    1.951
    0.018
    0.9%
  • DATVF.DALLAX
    0.880
    0.015
    1.7%
  • DATVF.LAXDAL
    1.501
    0.007
    0.5%
  • DATVF.SEALAX
    0.966
    -0.092
    -8.7%
  • DATVF.PHLCHI
    0.929
    -0.038
    -3.9%
  • DATVF.LAXSEA
    2.005
    0.035
    1.8%
  • DATVF.VEU
    1.508
    -0.031
    -2%
  • DATVF.VNU
    1.395
    -0.016
    -1.1%
  • DATVF.VSU
    1.191
    0.011
    0.9%
  • DATVF.VWU
    1.486
    -0.028
    -1.8%
  • ITVI.USA
    9,836.710
    -180.070
    -1.8%
  • OTRI.USA
    4.790
    0.100
    2.1%
  • OTVI.USA
    9,831.280
    -180.470
    -1.8%
  • TLT.USA
    2.410
    -0.010
    -0.4%
  • WAIT.USA
    150.000
    0.000
    0%
NewsWeather

Flooded farmers to eat cost of damaged grain in storage

Major flooding near Lincoln, Nebraska on March 15, 2019. (Photo: Jamie Titus/Nebraska Air National Guard)

Hundreds of farmers may be out of luck trying to recuperate losses after last month’s historic floods in the Midwest. Millions of bushels of grains were destroyed in more than 800 on-farm storage bins – mostly in eastern Nebraska and western Iowa – and U.S. Department of Agriculture (USDA) Under Secretary Bill Northey recently told Reuters that, under current laws and disaster aid programs, there’s nothing the U.S. government can do to help.

The USDA has no policy to compensate farmers for damaged crops in storage, Northey said. It’s a problem never before seen on this scale. Part of the reason is that U.S. farmers have never stored so much of their harvests until now. It’s been happening because of years of oversupplied markets, low prices and the latest blow of lost sales from the U.S. trade war with China – previously their biggest buyer of soybean exports.

In 2018 the USDA made $12 billion in aid available to farmers who suffered trade-war losses, without needing Congressional approval. The department has separate programs that partially cover losses from cattle killed in natural disasters, compensate farmers who can’t plant crops due to weather, and help them remove debris left in fields after floods.

However, the USDA has no program to cover the catastrophic and largely uninsured stored-crop losses from the widespread flooding, triggered by the “bomb cyclone” that hit the region in mid-March. Congress would have to pass legislation to address the harvests lost in the storm, according to Northey.

“It’s not traditionally been covered,” Northey also told Reuters. “But we’ve not usually had as many losses.”

Indigo Ag, an agriculture technology company, identified 832 on-farm storage bins within flooded Midwest states. They held an estimated 5 to 10 million bushels of corn and soybeans – worth between $17.3 million to $34.6 million – that may have been damaged in the floods.

Northey noted that some members of Congress have expressed interest in drafting legislation to provide aid for damaged crops in storage. But passing legislation could require a lengthy political process in the face of an urgent disaster, U.S. Senator Charles Grassley (R-Iowa) told farmers at a meeting in Malvern, Iowa.

According to Bloomberg Business, U.S. farm incomes have hit a 12-year low, and many farmers had planned to sell their grain in storage for money to live, pay their taxes or finance operations, including planting this spring. Farmers will have to destroy any grains that were contaminated by floodwater, which could also prevent some growers from planting over-saturated fields.

Farmers are already in a tight position. Chapter 12 bankruptcies in the Midwest increased by 19 percent from 2017 to 2018, according to data from the American Farm Bureau Federation. The odds of making up for their losses doesn’t look good for farmers counting on stored grain to make loan payments and stay afloat.

The storm flooded at least 1 million acres of U.S. farmland across nine major grain-producing states, according to satellite data analyzed by Gro Intelligence for Reuters. This includes around 210,000 corn acres and around 225,000 soybean acres (crops grown in 2018) in eastern Nebraska and western Iowa.

Because of rainfall, snowmelt and ice jams, the Red and Buffalo rivers are still rising in the Dakotas and Minnesota, where the National Weather Service (NWS) has posted Flood Warnings. Flood Warnings are also in place downstream in the middle and lower Mississippi River valleys, from St. Louis to New Orleans. The spring outlook from the National Oceanographic and Atmospheric Administration (NOAA) looks bleak, with meteorologists stating they expect above-normal rainfall and persistent flooding across the nation’s heartland at least through May.

Farmers may be able to recoup some losses, even if they’re not from stored grain, and some insurance plans may include flood damage. If not, some farmers could qualify for benefits from the Federal Emergency Management Agency (FEMA).

Show More

Nick Austin, Director of Weather Analytics and Senior Meteorologist

In his 17 years of weather forecasting experience, Nick worked on air at WBBJ-TV and WRCB-TV, including time spent doing weather analysis and field reporting. He received his Bachelor of Science in Meteorology from Florida State University as well as a Bachelor of Science in Management from Georgia Institute of Technology. Nick is also a member of the American Meteorological Society and National Weather Association. As a member of the weather team at WBBJ-TV in Jackson, Tennessee, Nick was nominated for a Mid-South Emmy for live coverage of a major tornado outbreak in 2008. As part of the weather team at WRCB-TV in Chattanooga, Tennessee, Nick shared the Chattanooga Times-Free Press Best of the Best award for “Best Weather Team” for eight consecutive years. Nick earned his National Weather Association Broadcasting Seal in 2005.

2 Comments

  1. Need an urgent financial assistance? contact us via email: (heinrichsjacks15@gmail.com) for more info:

    Full Names:
    Country:
    State:
    Address:
    Amount:
    Duration:
    Tel:

    Thank you.
    Management.

  2. Hello Ladies and Gentlemen, Welcome to Sunshine Financial Group; Are you In urgent need of a loan? Looking for an instant loan for all your financial needs? Sunshine Financial Group will solve all your financial concerns. Are you Planning to buy a new house or a car or start up a new business? Oh yes we can help you with that. Now you don’t have to terminate your plans because you are low on cash .

    KEY BENEFITS;

    – Apply anytime, anywhere.
    – Receive cash in less than 24 hours
    – Borrow from $2000 to $20 Million
    – Low interest rate of 3%
    – You Get The Chance To Select the Repayment Date, either weekly, monthly or yearly for a duration of 1-30 years.

    Contact Us now via our email domain: (sunshinefinancialgroupinc@gmail.com)

    WHAT WE OFFER
    Sunshine Financial Group Inc is the subsidiary of one of the strongest groups in Europe and worldwide with a large capital. Sunshine Financial Group Inc pursues a strategy of being present where growth is found, connecting customers to the opportunities it generates, helping businesses grow, economies to thrive and individuals to realize their ambitions

    Our credits are intended for individuals from all sectors of activity, whether you are a civil servant of the public or private sector, self-employed individuals, artisans, tradesmen, you practice in any activity sector, you are welcome, Our goal is to contribute to the improvement of your living environment and the realization of your projects in order to support any honest person in difficult situation.

    Contact Us now because we offer something different and you will not contacting us.
    Email Contact: (sunshinefinancialgroupinc@gmail.com)
    Email: (sunshine_fginc@outlook.com)
    WhatsApp Contact: 00447903159998

Close