Crop Insurance Projected Prices were calculated in the month of February.

Corn $4.58

Soybeans $11.87

 

These Projected Prices are higher than the past few years.

Corn

2021 $4.58

2020 $3.88

2019 $4.00

2018 $3.96

 

Soybeans

2021 $11.87

2020 $9.17

2019 $9.54

2018 $10.16

 

Higher Projected Prices means more revenue coverage in 2021.

For a 200 bushel APH corn farmer, 85% Revenue Protection means $119 more coverage per acre in 2021 compared to 2020.

For a 55 bushel APH soybean farmer, 85% Revenue Protection means $127 more coverage per acre in 2021 compared to 2020.

 

Not only did prices increase, but so did the volatility factor. For corn, the 2021 volatility factor is %0.23 compared to %0.15 in the previous three years. Soybeans also increased their volatility factor to %0.19 from %0.12 in 2020. The combination of higher prices and higher volatility factors means higher crop insurance premiums in 2021 to protect the value of your crop.

 

Review your 2021 crop insurance plan prior to March 15th!