Farmers won't be compensated for millions of dollars of soybeans lost after floods and trade war.
Indigo Ag, an agriculture technology company, identified 832 on-farm storage bins within flooded Midwest areas. They hold an estimated 5 million to 10 million bushels of corn and soybeans — worth between $17.3 million and $34.6 million — that could have been damaged in the floods, the company told Reuters.
Farmers will have to destroy any grains that were contaminated by floodwater, which could also prevent some growers from planting oversaturated fields. The USDA does not have a program that covers flood-damaged grain because farmers have typically received more advance notice of rising waters, allowing them to move crops and limit losses, said Tom Vilsack, who ran the agency under former President Barack Obama.
About 416,000 acres of cropland across six counties in Iowa were flooded, said Amanda De Jong, state executive director for the USDA Iowa Farm Service Agency.
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