Estimated Damage from Flooding Reaches $12.5 Billion

​Estimates of economic damage from the 2019 Midwest flooding have reached $12.5 billion, according to AccuWeather, which based its estimates on already-inflicted damages and estimated additional damage and lingering health effects from flooding. 

The estimate includes damages to homes, cars, businesses and farms, infrastructure, drinking water, and long-term impacts that could exacerbate health issues. If the $12.5-billion estimate proves true, the flooding would compare to economic losses from hurricanes Matthew (2016) and Irene (2011).
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The flooding has taken a heavy toll on states that are tied to agriculture. Ready-for-market grain that has been hit by floodwaters is largely considered a total loss, as the FDA considers the damaged grain adulterated. Reports have indicated that more than one million acres of cropland have been flooded by March 30th, and rail lines that service much of the area have been shut down or diverted, which has subsequently rendered crop and ethanol producers unable to capitalize upon higher prices for their goods on the coasts.