Strong reporting on how U.S. farmers cannot adapt to more big droughts like the one of 2012. Insurance companies covered billions in losses last year, but if 2013 is as bad as 2012, portfolios may shift to safer options.

US farmers are bracing for long-term challenges from climate change including blasting heat and more capricious rainfall.

About 80 percent of the farmland in the world’s biggest soybean and corn (maize) producer was scorched by extreme heat and drought last summer, savaging crops and sending global prices for the key food commodities soaring, hurting poor countries that depend on imports.

Across the heartland of the corn crop in the Midwest state of Iowa, farmers have turned a jaundiced eye on last season’s disaster to focus on this year’s weather conditions.

By early March, 53 percent of the land was still abnormally dry or suffering drought.

But as more and more accept that the climate is changing, farmers are putting their faith in technology to help them beat global warming…

Insurers compensated the losses with a record $14.7 billion in payouts — enough to allow farmers to get ready for a new season.

Via Global Post