USDA: Crop Insurance Claims Hit $15 Billion
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Updated: January 21, 2013
The USDA reports crop insurance claims due to last year's drought has reached a record high of $15 billion.
And with Congress looking at ways to cut the deficit and spending, some farmers are wondering if they'll have much of a safety net.
"Somebody's got to pay for it," said Robby Bevis, whose family farm in Scott dates back to the late 1800s.
Bevis said crop insurance benefits northern farmers mostly because when a drought hits, southern farmers have irrigation systems to offset the lack of rain.
Even though Arkansas farmers had a good yield, Bevis said the drought forced corn prices up in Arkansas to $8 dollars a bushel but higher fuel costs ate some of that up.
Regarding agriculture subsidies, Republicans and Democrats agreed upon a one year extension of the old farm bill at the last minute during the contentious fiscal cliff negotiations.
"I just wish they would get back to the way it used to be instead of being my way or the highway. Let's figure out what's best for the people," Bevis said.
This marks the first time in 50 years Congress has failed to come up with a five year farm bill.
And with Congress looking at ways to cut the deficit and spending, some farmers are wondering if they'll have much of a safety net.
"Somebody's got to pay for it," said Robby Bevis, whose family farm in Scott dates back to the late 1800s.
Bevis said crop insurance benefits northern farmers mostly because when a drought hits, southern farmers have irrigation systems to offset the lack of rain.
Even though Arkansas farmers had a good yield, Bevis said the drought forced corn prices up in Arkansas to $8 dollars a bushel but higher fuel costs ate some of that up.
Regarding agriculture subsidies, Republicans and Democrats agreed upon a one year extension of the old farm bill at the last minute during the contentious fiscal cliff negotiations.
"I just wish they would get back to the way it used to be instead of being my way or the highway. Let's figure out what's best for the people," Bevis said.
This marks the first time in 50 years Congress has failed to come up with a five year farm bill.
