News

USDA expands Margin Protection insurance to all corn and soybean growing counties

The USDA is expanding the eligibility of margin protection insurance for corn and soybeans by more than 1,000 counties.

Risk Management Agency Administrator Marcia Bunger tells Brownfield the program, which provides coverage against an unexpected decrease in operating margins, will be available in all counties where corn and soybeans are traditionally grown.

“This will expand Margin Protection to 34 states and 2,066 counties for soybeans and to all of the lower 48 states for corn.”

That is an additional 1,255 counties for soybeans and 1,729 counties for corn. The plan is also available in select counties in six states (AR, CA, LA, MS, MO, TX) for rice and four states (MN, MT, ND, SD) for wheat.

She says the expansion is in response to producers’ growing interest in the program.

“In 2022 producers insured 1.7 million acres of corn and 1 million acres of soybeans under margin protection.”

Margin Protection will be available to the newly added counties by June 30^th with a deadline to purchase of September 30^th. It can be purchased by itself, or in conjunction with a Yield Protection or Revenue Protection policy.