USDA SETS SPRING CROP INSURANCE PRICES

The following information was released by the American Farm Bureau Federation:

Crop insurance is a vital part of the overall farm safety net, and Chad Smith has the numbers on what that safety net will look like in 2026.

Smith: As spring planting gears up across the country, the Department of Agriculture's Risk Management Agency has determined crop insurance prices for 2026. Faith Parum, an economist with the American Farm Bureau Federation, has details on three major crops.

Parum: For 2026, spring prices were finalized at approximately $4.62 per bushel for corn, $11.09 per bushel for soybeans, and $6.19 per bushel for wheat. Of course, there are other crops that have been finalized. Spring prices are set by the future prices through the month of February for these crops, and so this will be helpful in determining the coverage levels for crop insurance.

Smith: Parum says these are slight changes from what farmers saw in spring 2025.

Parum: So, for corn, we see a price that's down about 1.7 percent. We also see prices for wheat being down about 5.5 percent, while soybean prices are up. It's important to know that this is the spring price, and so we'll have to wait to see what the harvest price looks like in the fall to know what coverage will be for crop insurance.

Smith: She said farmers have a stronger safety net this year, thanks in part to the updates in last year's One Big Beautiful Bill Act.

Parum: There are other risk management tools like ARC and PLC. ARC county prices this year will be set at $5.03 for corn, $12.17 for soybeans, and $6.98 for wheat. There's also PLC (which) is set by the breakeven price. And so, these will provide a great and strong safety net for our farmers across the country.

Smith: Learn more on the Market Intel page at fb.org. Chad Smith, Washington.