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Planet Money - Agriculture
10:18 am
Thu August 23, 2012

Why do taxpayers subsidize farmers' insurance?

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Credit Chana Joffe-Walt / NPR
Grandpa Traub — corn former and millionaire.
Credit Chana Joffe-Walt / NPR
Three generations of the Traub family are farmers.
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Originally published on Fri August 24, 2012 9:16 am

This summer's drought has hit more than half the states in the country. Crops are suffering, but farmers might not be. Most farmers have crop insurance.

U.S. taxpayers spend about $7 billion a year on crop insurance. It's our largest farm subsidy.

And this subsidy goes in part to farmers — who will tell you themselves they aren't so sure about the whole idea. "I have an aversion to it," says Jim Traub, a corn and bean farmer in Fairbury, Illinois. "But you're not going to turn it down."

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drought
5:15 am
Fri July 27, 2012

Regional farmers say worst drought since 1980s forces tough choices

Credit (Adam Allington/St. Louis Public Radio)
A parched corn field in Cass County, Illinois.
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A new report from the United States Department of Agriculture shows the ongoing drought has caused the nation's cattle herd to shrink by more than 2 million head so far this year.

Analysts project the dry weather will impact prices in the checkout aisle.

Today, we have two reports on the effects of the 2012 drought.  In this combined feature, Adam Allington takes a look at the region's corn farmers.

But first, St. Louis Public Radio's Tim Lloyd reports on the agonizing choices faced by Missouri cattle ranchers.      

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