Crop Insurance Prices Set for Spring Crops

February 29, 2016 05:04 PM
money coins

With February price discovery over, farmers are facing crop insurance guarantees below the cost of production.

USDA’s Risk Management Agency still has to release the official figures, but based on the futures prices for December corn, November soybeans, and September hard red spring wheat during February, analysts estimate that farmers will receive the following crop insurance prices:

  • Corn: $3.86
  • Soybeans: $8.85
  • Wheat: $5.13.

Those are all lower than 2015’s projected crop insurance prices, which were $4.15 for corn, $9.73 for soybeans, and $5.85 for wheat.

Such low guarantees, combined with tightening farm economics, are causing some farmers to reconsider their crop insurance coverage in the hopes of saving money.

The deadline to purchase crop insurance for spring crops is March 15. 

Crop Insurance Prices Below Production for Many

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Spell Check

North Platte, NE
3/1/2016 05:19 PM

  Keep in mind that $3.86 might look like a great price if we have a bumper crop. Insurance might be more valuable this year.

Britton, SD
3/1/2016 07:11 PM

  Wanna no why our insurance keeps going up its cause we let it all these farmers sign up for farmers business network and has anyone asked who keeps our data? Nope.... they charge u 500 dollars then the pricks sell the data to the insurance companys why did our premiums go up well Now we no.... why oh and BTW u jd guys maybe u should ask them who owns the data there taking from ur combine.... just a thought

Jeff moser
Garber, IA
3/1/2016 10:15 PM

  Ever notice when it's time to determine crop ins.pricing or China wants to buy corn the USDA pulls acreage or corn storage numbers out of their got to wonder who's side this government agency is we haven't known for a long time who's side they're on...


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