Corn and soybean yields have been better than expected for many Iowa farmers this year, but for farmers who were caught in drought areas, reduced yields plus the re­duced fall harvest insurance price for both corn and soybeans may trigger crop insurance payments. 

A farmer who uses the cash accounting method may elect to postpone reporting insurance proceeds on damaged crops from the year of damage to the following year if 50% or more of the crop is normally sold the year following production. 

This is determined on a crop-by-crop basis. It is done by making...