Iowa seeks about $4 billion in disaster aid after storm By Reuters

Iowa seeks about $4 billion in disaster aid after storm


© Reuters.

(Reuters) – The U.S. state of Iowa is seeking about $4 billion in disaster relief after a storm packing hurricane-force winds tore across the Midwest last Monday, Governor Kim Reynolds said.

The storm caused widespread property damage in cities and rural towns and left more than half a million homes and businesses without power.

Media reports said there were at least three deaths caused by the storm in Iowa.

The storm compounded troubles for the U.S. farm economy already battered by extreme weather, the U.S.-China trade war and most recently, the disruption caused to labor and consumption by the COVID-19 pandemic.

Winds as high as 100 miles per hour (160 kph) hit eastern Nebraska, Iowa, Wisconsin and parts of Illinois in the widespread storm classified as a “derecho” by the National Weather Service.

The storm impacted 37.7 million acres of farmland across the Midwest, including 14 million in Iowa, the Iowa Soybean Association said on Friday, citing estimates from the U.S. Department of Agriculture.

 

The storm affected 58,000 holders of crop-insurance policies with a liability of around $6 billion in Iowa, including $1.86 billion for soybeans, the Iowa Soybean Association said, citing data from the USDA’s Risk Management Agency.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME