# Lowering crop insurance subsidies for large farms could save millions, watchdog finds

> 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.

- Date: 2024-01-01 · published 2024-01-01T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/32684-lowering-crop-insurance-subsidies-for-large-farms-could-save-millions-watchdog
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

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.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-06-01 | [SECOND CORN CROP FORECAST AT 16 MILLION TONS IN PARANA – WILLIAMS SERVIÇOS MARÍTIMOS LTDA.](https://feedsoft.ai/events/13717-second-corn-crop-forecast-at-16-million-tons-in-parana-williams-servicos.md) | +2.3% | +0.5% |
| CORN | 2021-11-08 | [WASDE Preview: Watch for larger U.S. corn, soy supplies](https://feedsoft.ai/events/44071-wasde-preview-watch-for-larger-u-s-corn-soy-supplies.md) | +5.9% | +8.0% |
| CORN | 2021-08-04 | [France Lowers Wheat Crop Forecast \| ESM Magazine](https://feedsoft.ai/events/45505-france-lowers-wheat-crop-forecast-esm-magazine.md) | -1.0% | -3.1% |
| CORN | 2024-08-13 | [August WASDE, Crop Production Reports Buoy Expectations for Large Crops \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/10467-august-wasde-crop-production-reports-buoy-expectations-for-large-crops-farm.md) | -1.2% | +0.1% |
| CORN | 2017-07-12 | [Larger supplies offset crop concerns](https://feedsoft.ai/events/7087-larger-supplies-offset-crop-concerns.md) | -4.1% | -5.2% |
| SOY | 2022-06-01 | [SECOND CORN CROP FORECAST AT 16 MILLION TONS IN PARANA – WILLIAMS SERVIÇOS MARÍTIMOS LTDA.](https://feedsoft.ai/events/13717-second-corn-crop-forecast-at-16-million-tons-in-parana-williams-servicos.md) | +2.7% | -0.5% |
| SOY | 2021-11-08 | [WASDE Preview: Watch for larger U.S. corn, soy supplies](https://feedsoft.ai/events/44071-wasde-preview-watch-for-larger-u-s-corn-soy-supplies.md) | +3.5% | +5.8% |
| SOY | 2024-08-13 | [August WASDE, Crop Production Reports Buoy Expectations for Large Crops \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/10467-august-wasde-crop-production-reports-buoy-expectations-for-large-crops-farm.md) | -5.5% | -3.4% |

## Sources

- agriculturedive.com: https://www.agriculturedive.com/news/crop-insurance-usda-farms-premiums-gao-report/701718/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.