USDA’s Federal Crop Revenue calculations for the crop insurance price were determined in February. The average December corn price was $4.66 per bushel, down $1.25 from last year. With a national five-year average yield and an 85 percent revenue policy, that would translate to a revenue guarantee of $711 per acre. That’s down $200 from last year’s guarantee. The November soybean average price was $11.55 per bushel, down from $13.76 per bushel a year ago. Again, with a national five-year average yield and an 85 percent revenue policy, that would provide a revenue guarantee of $615 per acre, down from $624 per acre in 2023.
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