By Scout Nelson
The marketing year for summer crops has ended, and updated price estimates are offering insight into possible support levels under federal farm programs. Kansas State University has released its final Marketing Year Average (MYA) price estimates for the 2024–2025 season and projections for 2025–2026.
For the 2024–2025 marketing year, which ended August 31, estimates show little change from last month. Corn is estimated at $4.28 per bushel, grain sorghum at $4.10, and soybeans at $10.03. USDA previously announced the 2024–2025 national MYA wheat price of $5.52 per bushel.
All of these values remain above their respective reference prices of $4.01 for corn, $4.06 for sorghum, and $9.26 for soybeans, resulting in no Price Loss Coverage (PLC) payments expected this October.
Looking ahead to the 2025–2026 marketing year, estimates indicate more variation. The projected MYA wheat price is $5.25, which is below the effective reference price of $5.56. This suggests a potential PLC payment for wheat in October 2026. Corn’s estimated MYA price is $4.53, above its $4.26 reference price, making PLC payments unlikely.
Grain sorghum, however, is projected at $4.19, which falls $0.32 below its reference price of $4.51. If this estimate holds, producers could receive a PLC payment for sorghum in 2026. Soybeans are projected at $10.62, well above their $9.66 reference price, meaning payments are highly unlikely.
Kansas State’s estimates draw from USDA Agricultural Prices reports, futures markets, national basis assumptions, and historical marketing data. These updates help farmers and agricultural planners anticipate farm program outcomes and manage risk.
With most 2024 crop prices above support levels, PLC payments are not expected this year, but sorghum and wheat producers could see program benefits in 2026 depending on market conditions.
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Categories: Kansas, Crops, General