Corn Growers tell Senate Ag Committee Crop Insurance is Lifeline
As congress examines and debates a reauthorized the federal Farm Bill, a major concern among producers is possible cuts to crop insurance.
Bruce Rohwer - with National Corn Growers Association told ag committee members at a recent hearing that corn farmers' most important risk management tool is the Federal Crop Insurance Program.
"From 2006 to 2013, corn prices averaged $4.70 per bushel. Since then, prices have fallen below $4.00 and are projected to $3.35 this marketing year.
If prices remain below $40.00, incomes will remain very low or negative. Crop insurance provides well-targeted within year protection against yield loss and declining prices, while ARC and PLC protect against multiple years of depressed markets. As the farm economy deteriorates, access to credit remains a critical part of farm safety net."
Chair of the Senate Ag Committee, Pat Roberts told those giving testimony they he understands America's farmers and ranchers are at the mercy of Mother Nature when it comes to the weather on their farms.
The committee will continue hearing from ag producers, crop insurance professionals, as well as lenders on what is working and what needs to be changed.
