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Featured Publications

Mitigating Structural Inequities in U.S. Agricultural Risk Management

The results of this research indicates that minority and veteran farmers are disproportionately located in regions of the U.S. with higher risks of drought and excess precipitation. Yet, these producer groups had lower use of crop insurance prior to the implementation of the 2018 Farm Bill. However, the incentive programs created under the 2018 Farm Bill have increased use of federal crop insurance among these vulnerable populations.

Actuarial implications of prevented planting coverage

The results of this research shows that, on average, higher PP shares have little effect on loss ratios, but regions where PP exceeds 20% of indemnities see significant increases in loss ratios. This indicates actuarial performance weakens when PP payments dominate other perils. A counterfactual simulation treating PP as a production loss suggests improved loss ratios for historically PP-intensive crops but at the cost of higher premiums and potentially lower insurance demand.

When Disaster Strikes the Billing Date: A Scoping Review of Crop Insurance Interest Deferrals

This white paper reviews the Federal Crop Insurance Corporation’s (FCIC) deferral of interest on unpaid premiums after natural disasters. Since the 2012 shift to an August 15 billing date, FCIC has routinely granted 60-day waivers during severe weather or national emergencies, providing producers liquidity but delaying federal receipts. Between 2019 and 2023, over $18 billion in premiums were deferred, representing $510 million in implicit subsidies. The analysis examines effects on actuarial soundness, budget scoring, and moral hazard, and outlines policy options to balance producer relief with fiscal discipline amid rising weather risks.

2024

U.S. Agricultural Trade Challenges Amid Climate and Geopolitical Disruptions

Choices

Raghav Goyal, Sandro Steinbach, Xiting Zhuang, and Yasin Yildirim

2024

State-Level Effects of Potential Trade Policy Shifts on Southern U.S. Agriculture

Southern Ag Today

Raghav Goyal, Sandro Steinbach, Yasin Yildirim and Carlos Zurita

2023

Exchange Rate Volatility and Global Food Supply Chains

University of Chicago Press

Sandro Steinbach

2024

Balancing Environmental Policies and Food Security Goals in the Face of Shifting U.S. Rail Transportation Regulations

Food Policy

Sandro Steinbach

2024

Ripple Effects of Shipping Lane Disruptions on U.S. Agriculture

Farmdoc Daily

Sandro Steinbach, Xiting Zhuang and Yasin Yildirim

2024

How California's New Locomotive Regulation Could Impact Midwest Agriculture

Farmdoc Daily

Shawn Arita, Seth Meyer, Sandro Steinbach, and Sharon Sydow

2024

Policy Options for Managing Avian Influenza in Dairy Cows

Food Policy

William Nganje and Sandro Steinbach

2024

Urgency for Enhanced Policy Intervention to Combat Avian Infuenza in Dairy Cows

Farmdoc Daily

William Nganje, Sandro Steinbach and Yasin Yildirim

Explore our recent research, commentary, and updates on evolving challenges in agricultural risk and policy.

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