Crop insurance is more effective for taxpayers than ad hoc disaster payments because farmers absorb a portion of losses through deductibles, and claims are paid only on proven yield amounts, crop insurance agent Matt Allen writes. The government also shares in underwriting profits in disaster-free years, writes Allen.
House Agriculture Committee Chairman Mike Conaway, R-Texas, said President Donald Trump told him during a recent conversation that "I want it [crop insurance] better, I want it great." Conaway said he is spreading the message throughout Congress that the president is completely supportive of a robust crop insurance program.
Farmers and agricultural leaders meeting with USDA Secretary Sonny Perdue in New Mexico last week proposed crop insurance revisions and discussed trade issues, among other topics. Perdue was also scheduled to visit Colorado, Nebraska and Wyoming.
Gradual increases in water vapor accompanied by warmer temperatures, amid increasing global temperatures, may bring higher corn crop yields in the Midwest, say Bruno Basso and Joe Ritchie of Michigan State University. The temperature trend changes may also make it possible to use hybrid varieties that extend the growing season and increase yields, the researchers said.
Farmers in west central Minnesota have planted most of their sugar beets and 75% of their corn while also getting soybeans started after high precipitation levels and cold temperatures caused delays. The crop insurance planting deadline is May 31 for corn and June 10 for soybeans.
Storms in Kansas last week provided needed moisture to some drought-affected wheat farmers, but up to 100% losses for areas struck by hailstorms. Many farmers who incurred damage are calling their crop insurance contacts, said farmer Vance Ehmke.
Seed cotton's new status as a covered commodity changes the decisions cotton farmers have to make, said Joe Outlaw of Texas A&M University's AgriLife Extension Service. Cotton farmers need to allocate their 2009-2012 base acres to different crops, consider revising payment yields and choose between Agriculture Risk Coverage and Price Loss Coverage, he said.
Walmart will launch its grocery delivery service across the Chicago market on Tuesday, charging $9.95 for same-day delivery. The addition of Chicago comes as the company strives to cover 40% of American households with grocery delivery services by year's end.
Campbell Soup CEO Denise Morrison is retiring today after seven years at the company's helm. Board member Keith McLoughlin will fill the CEO role on an interim basis while the firm seeks a permanent replacement.
Coca-Cola is rolling out its upgraded Freestyle 9100 machine this weekend in Chicago at the National Restaurant Association's annual show. The Bluetooth-enabled soda fountain will allow consumers to personalize their beverages right from their phones.