Crop Insurance Payouts Remain at $10.8 Billion

Via a special arrangement with Informa Economics, Inc.

Only minor shifts in latest weekly data.

U.S. crop insurance payouts under policies taken out for 2011 crops stayed largely unchanged at $10.8 billion for the week ended June 18, keeping the loss ratio for the program at .90, according to Risk Management Agency (RMA) data.

Corn still leads the total payouts with $3.221 billion in indemnities, accounting for about 30 percent of total indemnities on 2011 crops. And risk protection (RP) policies remain the main choice with corn producers, accounting for 85% of the premiums paid and a like percentage of indemnities paid out so far.

Here's a graphic of losses for the week ended June 18:

As for 2012 crops, policies covering a net 107.095 million acres have been taken out with total premiums paid in now at $2.958 billion, up from $2.551 billion a week ago. For 2011 crops, a net 265.678 million acres were insured.