The USDA will announce the final 2025 marketing year average (MYA) prices for corn and soybeans on Sept. 30, which are used to calculate Price Loss Coverage (PLC) and Agriculture Risk Coverage (ARC-CO) farm program payments for the 2025 crop year. Based on the September WASDE Report, the current MYA price estimate is $4.15 per bushel for corn, holding steady for several months, and $10.50 per bushel for soybeans, up a dime from the prior estimate. These monthly prices are weighted by the percentage of bushels sold each month to arrive at the final marketing year figure.

Historically, final MYA prices have stayed close to the September WASDE estimate, but even a few cents per bushel can swing farm program payments in a real way. MorningAgClips outlines a corn example, where a $.02 per bushel increase in the final corn price, for example, would trim the estimated PLC payment by roughly $2.72 per base acre, or $2,720 on a 1,000-acre corn farm with a 160-bushel PLC yield.

Snapshot of where corn and soybeans stand

Corn

  • At the current $4.15 per bushel 2025 MYA estimate, corn is $0.27 below the PLC reference price ($4.42 per bushel) and $0.88 below the ARC-CO benchmark price ($5.03 per bushel), putting most corn base acres on track for a notable payment.
  • Estimated 2025 PLC payments range from about $25 to $40 per base acre depending on farm-level PLC yield, while ARC-CO payments would kick in in counties where final yields come in well above benchmark, with results varying widely county to county.

Soybeans

  • Soybeans are estimated at $10.50 per bushel, $0.21 below the PLC reference price ($10.71 per bushel) and $1.67 below the ARC-CO benchmark price ($12.17 per bushel), pointing to a payment expected like corn, though a smaller one than corn in most counties.
  • Estimated 2025 PLC payments range from roughly $5 to $11 per base acre depending on PLC yield, with ARC-CO payments most likely where final county soybean yields land near or above benchmark levels.

Read more analysis from Morning Ag Clips.