Graphic: Insurance Spending Gap Between Corn and Other Crops at Widest Ever in 2023

Jun 27, 2024

By Mitchell Lierman

Impacted by drought and export disruptions caused by the war in Ukraine, insurance spending for corn versus that for other crops in 2023 grew to its widest-ever gap.

Increases in annual total corn premiums outpaced other highly-insured crops over the past five years. These policy premiums are paid for, in part, by government subsidies, which on average covered 62% of the crop insurance costs for farmers in 2022, according to the Government Accountability Office.

Deadlines to purchase spring-planted crop insurance were one month after the Russian invasion of Ukraine in February 2022. According to data from the Observatory of Economic Complexity, an open-source project for visualizing world economic data, Ukraine was responsible for 9.3% of global corn exports in 2021.

Corn insurance spending fell in 2023, yet remained near record high

Insurance spending for several crops reached all-time highs in 2022, with earned premiums for corn, soybeans, wheat, cotton and sorghum doubling from pre-pandemic levels. Spending on the three most insured crops last doubled between 2006 and 2008.

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Video: Sweetener Effects on Gut Health - Dr. Kwangwook Kim

In this episode of The Swine Nutrition Blackbelt Podcast, Dr. Kwangwook Kim, Assistant Professor at Michigan State University, discusses the use of non-nutritive sweeteners in nursery pig diets. He explains how sucralose and neotame influence feed intake, gut health, metabolism, and the frequency of diarrhea compared to antibiotics. The conversation highlights mechanisms beyond palatability, including hormone signaling and nutrient transport. Listen now on all major platforms!

“Receptors responsible for sweet taste are present not only in the mouth but also along the intestinal tract.”

Meet the guest: Dr. Kwangwook Kim / kwangwook-kim is an Assistant Professor at Michigan State University, specializing in swine nutrition and feed additives under disease challenge models. He earned his M.S. and Ph.D. in Animal Sciences from the University of California, Davis, where he focused on intestinal health and metabolic responses in pigs. His research evaluates alternatives to antibiotics, targeting gut health and performance in nursery pigs.