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Iowa farmers get $163 million in disaster aid
Posted: 05.24.2010 at 11:01 AM
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(AP) -- Iowa farmers enjoyed one of their best years in 2008, thanks to soaring corn and soybean prices.
   
Now, many growers are getting a second shot of cash for that year's crops in the form of federal disaster payments - even if they had minimal revenue losses.
   
Some farmers are getting as much as $100,000 each.
   
The total statewide, $163 million, is more than twice that of any other state so far.
   
Federal officials say the state's total could top $300 million, which would be twice as much farm disaster aid as Iowa has received in the past 15 years combined.
   
Experts say that because of quirks in how the payments are calculated, some of the income losses that the disaster aid is supposed to cover existed largely on paper.

(Copyright ©2010 by The Associated Press. All Rights Reserved.)

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