Earlier in July, Gov. Mike Pence asked Department of Agriculture to declare a secretarial disaster declaration, and now with the approval, farmers can apply for low interest emergency loans to cover their loses.
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Farmers in all but four Indiana counties will have access to federal relief in the wake of devastating flooding after officials approved a disaster declaration for counties hit the hardest. Those in Illinois, Kentucky, Ohio and Michigan counties that are contiguous to disaster areas are also eligible, the Associated Press reports. Information regarding loan uses, eligibility, and loan requirements can be found on the attached document as provided by the U.S. Department of Agriculture. Due to record setting rainfall and the resulting floods that began at the beginning of May, many Indiana farmers have lost significant amounts of their crops. Final month, the federal government had estimated manufacturing at 13.5 billion bushels on yields of 166.eight bushels per acre.
“We had a lot of rain, don’t get me wrong”, he said.
Farmers interested in applying for loans should contact the local Farm Service Agency for application details.
Not only will Indiana farms produce smaller crops, projected large harvests elsewhere are driving down corn and soybean prices.
The projections are still higher than the five- and 10-year averages for Indiana corn and soybean yields through 2013, which included a severe drought in 2012, according to USDA data.
Nationally, however, the crops are expected to fare better. Indiana set records for corn and soybean production and yields previous year.
Pence and Ellspermann each issued statements thanking the USDA for its disaster declaration. Sen.
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The USDA on Wednesday designated 53 Indiana counties as disaster areas, making them and 35 contiguous counties eligible for low-interest loans through the USDA’s Farm Service Agency, said panelist Julia Wickard, executive state director of FSA.
