The initiative is sponsored by the U.S. Department of Agriculture. Grants totaling $4.8 million will go to 13 states, including Iowa.
With the federal dollars, the Iowa Soybean Association will offer farmers individual analysis of risk exposures and advice on the best tools and techniques to manage risk.
"Farming is inherently a risky enterprise with unpredictable revenues. Helping farmers better manage risk is a vital component to the safety net American farmers deserve as they produce the most affordable, abundant and highest quality food supply in the world," Grassley said.
Grassley was instrumental in developing the $8.2 billion update of the federal crop insurance program passed by Congress last year.
The Agricultural Risk Protection Act increased the affordability of crop insurance and empowered farmers to better prepare for the future and be less dependent on the whims of the government to provide ad hoc disaster or economic assistance. "The expanded program provides farmers with sound crop insurance protection from unavoidable risks," Grassley said.
The other USDA grants awarded today will go to risk management programs in Colorado, Delaware, Illinois, Michigan, Minnesota, Nebraska, North Carolina, Ohio, Oklahoma, South Carolina, Texas, and Washington.