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Processing started for crop insurance claims on drought-damaged corn

Crop insurance claims due to the drought are being processed by the National Crop Insurance Services, according to Laurie Langstraat, director of public relations. While 2012 figures are not available yet, Langstraat anticipates coverage will be similar to last year when 84% of U.S. planted acres were under some type of federal crop insurance. If this drought is similar to the drought of 1988, then losses may amount to $20 billion to $25 billion. 

 

 

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