 Irwin says, quote, regardless of the fine details of crop insurance and government payments, alarm bells should be going off about the scale of potential corn and soybean losses for the 2024 crop in the Corn Belt. Right now, the losses look punishing due to the combination of rising expenses in recent years and the significant drop in corn and soybean prices, end quote. And Irwin also adds that corn losses could surpass $200 per acre and soybean losses could easily reach $98 per acre.