Total U.S. crop losses may top $8 billion for 2008

The market value of weather-related crop losses so far this year may hit $8 billion, the American Farm Bureau Federation said this week, due largely to flooding in the greater Mississippi Valley area, but also to continuing drought in California and the Southeast.

In the U.S. heartland region, wet weather and flooding prevented many farmers from their initial planting, flooded out many planted acres, are making it difficult to replant and will greatly reduce the yield of the crop that is harvested.Full story: Stormwire