Closeup of young corn plantFor 2025, the federal crop insurance price discovery period ended on February 28 for policies with a March 15 sales closing date. The projected price for corn is set at $4.70 per bushel. This is slightly higher than 2024’s price of $4.66. Soybean prices for 2025 are projected at $10.54. This is a decrease from 2024’s $11.55.

The volatility factors for corn and soybeans are lower than in 2024. As a result, producer-paid premiums for corn should remain similar to 2024 levels.

Soybean premiums should be lower. Although guarantees for corn policies will be slightly higher, soybean guarantees will decrease due to the $1.01 lower projected price. Insurance guarantees for both crops are lower than in the 2022 and 2023 crop years.

Due to these factors, producers may find the Enhanced Coverage Option (ECO) more appealing in 2025, including the new, higher subsidy rate of 65%. The crop insurance premium estimates for 2025 show varying costs depending on coverage levels and additional options like ECO and Supplemental Coverage Option (SCO).

Premiums at the 85% Revenue Protection (RP) coverage level are higher for corn. Producers looking for lower premium options can explore alternative policies. For example, an 85% coverage level under Revenue Protection with Harvest Price Exclusion (RPHPE) is estimated at $12.04 (in an Illinois illustration) per acre for enterprise units. In comparison, 85% Yield Protection (YP) comes in at approximately $12.75 per acre. Unlike standard Revenue Protection (RP), RPHPE does not adjust guarantees if the harvest price exceeds the $4.70 projected price. Meanwhile, YP only protects against yield losses, with coverage fixed on the projected price rather than potential market fluctuations.

A set of crop insurance tools is available for use on the farmdoc and farmdoc daily websites.

Learn more about 2025 crop insurance coverage options here.

Citation: Paulson, N., G. Schnitkey and C. Zulauf. “Crop Insurance Decisions for 2025.” farmdoc daily (15):41, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, March 4, 2025. Permalink.