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A Government Accountability Office report found that large farms, about 2% of crop insurance policies, received 36% of premium subsidies in 2022. Crop insurance costs reached $17.3 billion that year.
The GAO estimated a 15-point subsidy cut for large policyholders would have saved about $15 million.
The findings may inform Congress as it seeks funding for the next farm bill, but they do not change current crop supply or prices. Any resulting reforms would affect program costs more than production.
agriculturedive.comSarah ZimmermanJan 1, 2024After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
