Page 31 2026 Spring Farm Outlook LINCOLN DAILY NEWS March 2026 a report from the Farm Bureau (FB) in early 2025, farmers lost $20.3 billion in crops due to weather related causes. Some of these causes include hail, flooding, and tornadoes. The number one “cause of loss” by far, however, was “drought, wildfire, and/or heat,” causing over $11 billion in damages alone. The farming outlook does not seem to be getting any brighter. The Farm Bureau reported in February of 2026 that over 300 farms had filed for bankruptcy in 2025, which was a 46 percent increase from the previous year. Financial hardships on farmers and farms seem to be getting worse. With that in mind, farmers need all the financial assistance they can get. Crop insurance is great to have, but like most insurance, it is not cheap. It is largely subsidized by the federal government, and the OBBBA made crop insurance more affordable and beneficial to farmers. One of the “several significant updates” the OBBBA makes “to strengthen and modernize” crop insurance is increasing premium support for beginning farmers and ranchers. OBBBA does this by expanding the definition of “beginning farmer and rancher” to ten years of experience from the previous five. This allows farmers and ranchers to get some of the support given to early farmers for a greater duration. Additionally, “premium assistance is increased during the first four years: an additional 5 percentage points in years one and two, 3 points in year three, and 1 point in year four.” This is in addition to the ten percent that is already given. The OBBBA created a new “pilot insurance product for poultry growers.” This helps them handle risks in production like spiking costs and extreme weather. OBBBA also expands eligibility for the Supplemental Coverage Option (SCO). Previously, only farmers with Price Loss Coverage (PLC) were able to purchase SCO. Now, farmers with Agriculture Risk Coverage (ARC) can purchase SCO as well.
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