WASHINGTON, DC – Crop insurance guarantees improved for corn, soybeans, wheat and cotton in 2026, but projected market prices still fall short of estimated total production costs across all four crops.
American Farm Bureau Federation analysis shows harvest prices finished above spring crop insurance prices for all four crops for only the second time since 2011. Corn increased 2.8 percent, soybeans 13.9 percent, wheat 11.8 percent and cotton 15.9 percent.
The higher harvest prices increase revenue guarantees for producers carrying Revenue Protection policies with the harvest price option. About 95 percent of insured acreage across the four crops is covered by Revenue Protection.
Profitability remains the larger problem. Estimated total-cost breakevens are about $5.65 per bushel for corn, $13.03 for soybeans, $11.62 for wheat and $1.58 per pound for cotton. USDA October price forecasts remain below each of those levels.
Cotton faces the tightest margin. Its estimated operating-cost breakeven is 95 cents per pound, above USDA’s projected 77-cent price, meaning expected returns may not cover even variable expenses.
Farm-Level Takeaway: Higher crop insurance guarantees provide better protection, but current market prices still leave major crops below full production-cost breakevens.