MANHATTAN, KANSAS (RFD-TV) — Low projected crop prices are making federal farm program payments more likely for wheat, corn, grain sorghum, and soybean producers. Kansas State University economist Rich Llewelyn estimates marketing-year prices remain below effective reference prices for all four crops.
Wheat is nearly finalized at $5.06 per bushel, below its $6.35 reference price, implying a $1.31-per-bushel Price Loss Coverage payment in October. Estimated payments are 25 cents per bushel for corn, $1.09 for sorghum and 26 cents for soybeans.
Corn, sorghum and soybean estimates can still change because four months of cash prices remain. Wheat has only one month remaining, leaving less room for its payment estimate to shift.
For crops harvested in 2025, producers will receive the higher of Price Loss Coverage or Agriculture Risk Coverage payments under legislation passed last year. Current prices are also below levels that could trigger county-based revenue payments where yields were near average.
Estimates for 2026 harvested crops remain early. Corn and sorghum are below their reference prices, while wheat and soybeans are above them.
