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Texas Dust-Bowl Redux Spurs Record U.S. Cotton Loss, Farm Claims

The worst Texas drought in more than a century has left cotton-crop conditions that rival the Dust Bowl of the early 1930s, forcing farmers to abandon more fields than ever before.

Most growers will at least break even this year from insurance claims, with the reimbursement rate on policies higher than the price of New York cotton futures, according to a Bloomberg News survey of seven analysts, brokers and farmers.