The drought continues to ravage the nation's cornfields.
Atlantic, IA – Some big help is on the way for farmers looking to recoup some of their losses. Farmers will meet with agents and sort out all the red tape that comes with filing a claim.
Ken Kay, a corn-belt farmer owns a 345-acre farm in Atlantic. This year the drought has withered all his crops.
Kay says he hasn’t filed a claim in years. He like many other farmers has questions for adjusters at Tuesday night’s meeting.
Kay says until the drought, he was looking forward to his best crop in nearly half a century.
The government picks up most of Kay’s crop insurance premium.
As the drought continues to ravage the nation’s cornfields, crop insurance losses are expected to break records.
The more bushels of corn that are lost, the more it helps farmers in their insurance settlement.
The bill trickles down to taxpayers, because the government pays farmers 60- cents for every dollar of their premium.
While it will take a few months till harvest to find out true costs of this drought, it’s clear there going to be plenty of pain to go around.
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