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Indiana Crop Insurance Payouts Reach Record High

By: Chris Veech

Updated: March 13, 2013

Indiana crop insurance payouts for losses during last year's drought reach a record $1 billion. Purdue University says the losses for 2012 are nearly twice as much as the previous record of $522 million in 2008. Agricultural economists think the total will likely grow even more in the coming weeks as final claims are filed. Indiana corn yields were nearly 40 percent below normal last year.

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