The three most widely planted U.S. crops – corn, soybeans and wheat – account for roughly 68 percent of crop insurance sales, says USDA, a dominating total but smaller than 15 years earlier. Then, the three crops were responsible for 80 percent of acres enrolled in crop insurance. With new types of policies and more crops eligible for coverage, the share held by the three major crops has declined. USDA says pasture, forage and range land zoomed to 48 million acres insured in 2012 compared to zero in 1997.
A record 296 million acres were enrolled last year. Reports on this year’s sales are flowing into the Risk Management Agency. Its latest data show 160.3 million acres are insured, up 20 million acres in one week, and 6 percent ahead of the pace one year ago. Plantings of corn, wheat and soybeans are up by 2 percent this year, to 232.9 million acres.