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Crop Insurance Decisions for 2024

Author

Listed:
  • Sherrick, Bruce
  • Schnitkey, Gary
  • Paulson, Nick

Abstract

The 2024 price discovery period used to determine projected prices and volatility factors for Federally-sponsored corn and soybean crop insurance products is completed for areas with a March 15th sales closing date (SCD). For the majority of the corn belt, the approved Projected Price (PP) for corn is $4.66 and the Volatility Factor is 0.19, and for soybeans, the Projected Price is $11.55 with a Volatility Factor of 0.15. These represent substantially lower prices than in recent years and will result in lower premiums in general and correspondingly lower insured revenue levels.

Suggested Citation

  • Sherrick, Bruce & Schnitkey, Gary & Paulson, Nick, 2025. "Crop Insurance Decisions for 2024," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 14(44).
    • Handle: RePEc:ags:illufd:358562
    DOI: 10.22004/ag.econ.358562
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    Keywords

    Agribusiness; Premiums and Payouts;

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