U.S. crop insurance covered 280 million acres, and weather-related indemnities reached $18.2 billion. At the same time, 7.8% of U.S. farms reported drought-related crop loss, showing how quickly climate risk turns into financial pressure. These farm industry statistics track the scale of that pressure across production, income, conservation, and trade.
Key Takeaways
- 1.9 million U.S. farms were reported in the 2022 Census of Agriculture (if using 2017 Census baseline, ERS estimates persist).
- 7.8% of U.S. farms reported experiencing crop loss from drought in 2022 (USDA Farm Service Agency / NASS reported loss indicators compiled in ERS risk analyses).
- 1.0% of U.S. farmland was damaged by extreme weather events leading to crop insurance claims in 2023 among covered acres (USDA RMA claims exposure summaries).
- USDA reported $18.2 billion in crop insurance indemnities for losses due to weather events in 2022 (USDA RMA annual indemnity summary).
- 2.7 million acres were enrolled in Conservation Reserve Program (CRP) as of FY 2023 end (USDA FSA CRP program data).
- 1.5 million farms in the U.S. were classified as small farms (less than 1800 acres) in the 2017 Census of Agriculture (USDA NASS).
- 0.79 tons per hectare average global maize yield was reported for 2022/2023 season (FAOSTAT maize yield series).
- 1.5 billion people face moderate or severe food insecurity (FAO SOFI 2023), reflecting demand-side pressure on agriculture.
- $50.5 billion in farm machinery and equipment sales occurred in 2023 in the United States (Association of Equipment Manufacturers, U.S. sales estimate).
- $16.9 billion in U.S. farm cash receipts were attributed to soybeans in 2023 (USDA Economic Research Service).
- Global fertilizer prices averaged about USD 330 per metric ton (spot) in 2023, down from the peak in 2022 (World Bank commodity markets data).
- 3.6% of U.S. food demand was lost to food waste at the retail level in 2022 (US EPA Food Waste Estimates report).
- The U.S. had 27 million acres under CRP as of September 2023: July 2026 (USDA FSA CRP data).
- USD 34.4 billion was mobilized globally in 2021 for climate finance in agriculture, forestry, and land use (FAO/Climate finance tracking).
- In 2023, 75% of crop insurance policies in the U.S. were in force for multiple-peril coverage (RMA risk management statistics).
In 2023, U.S. farms faced weather-driven risk while conservation and crop insurance helped buffer millions of acres.
Related reading
01 · Category
Sustainability & Risk5 stats
01
7.8% of U.S. farms reported experiencing crop loss from drought in 2022 (USDA Farm Service Agency / NASS reported loss indicators compiled in ERS risk analyses).
02
1.0% of U.S. farmland was damaged by extreme weather events leading to crop insurance claims in 2023 among covered acres (USDA RMA claims exposure summaries).
03
USDA reported $18.2 billion in crop insurance indemnities for losses due to weather events in 2022 (USDA RMA annual indemnity summary).
04
3.8 billion metric tons of CO2-equivalent greenhouse gases were associated with global food systems estimates for agriculture and land use categories in 2019 (IPCC AR6 WGIII).
05
80% of agricultural production depends directly or indirectly on pollinators, according to the IPBES assessment (2016).
Interpretation
Sustainability & Risk Interpretation
With drought affecting 7.8% of U.S. farms and weather-driven crop insurance claims and indemnities totaling $18.2 billion in 2022, the Sustainability and Risk picture is clear that climate volatility is already translating into real operational losses for farmers.
02 · Category
Market & Prices5 stats
01
$50.5 billion in farm machinery and equipment sales occurred in 2023 in the United States (Association of Equipment Manufacturers, U.S. sales estimate).
02
$16.9 billion in U.S. farm cash receipts were attributed to soybeans in 2023 (USDA Economic Research Service).
03
Global fertilizer prices averaged about USD 330 per metric ton (spot) in 2023, down from the peak in 2022 (World Bank commodity markets data).
04
U.S. farm sector net cash income was USD 119.3 billion in 2023 (USDA Economic Research Service farm income forecast series).
05
U.S. agricultural imports totaled USD 173.4 billion in 2023 (U.S. Census Bureau trade data summary).
Interpretation
Market & Prices Interpretation
In the Market and Prices space, 2023 showed strong farm demand signals with U.S. farm machinery and equipment sales reaching $50.5 billion while overall farm sector net cash income climbed to $119.3 billion, even as global fertilizer prices eased to about $330 per metric ton from 2022’s peak.
03 · Category
Risk & Insurance5 stats
01
In 2023, 75% of crop insurance policies in the U.S. were in force for multiple-peril coverage (RMA risk management statistics).
02
U.S. crop insurance covered 280 million acres in 2023 (USDA RMA annual summary).
03
U.S. crop insurance gross premium written was USD 144.2 billion for policies sold in crop year 2023 (USDA RMA).
04
The U.S. had 1.9 million policies in force for crop insurance in 2023 (USDA RMA).
05
In 2023, U.S. billion-dollar weather and climate disasters totaled 28 events (NOAA NCEI).
Interpretation
Risk & Insurance Interpretation
In 2023, the U.S. relied heavily on risk and insurance tools with 75% of crop insurance policies using multiple peril coverage, covering 280 million acres under USD 144.2 billion in premiums across 1.9 million policies while facing 28 billion-dollar weather and climate disasters.
More related reading
04 · Category
Policy & Sustainability3 stats
01
3.6% of U.S. food demand was lost to food waste at the retail level in 2022 (US EPA Food Waste Estimates report).
02
The U.S. had 27 million acres under CRP as of September 2023 (USDA FSA CRP data).
03
USD 34.4 billion was mobilized globally in 2021 for climate finance in agriculture, forestry, and land use (FAO/Climate finance tracking).
Interpretation
Policy & Sustainability Interpretation
As sustainability policy advances, the United States still lost 3.6% of food demand to retail food waste in 2022 while using 27 million acres under CRP and the world mobilized USD 34.4 billion for climate finance in agriculture and land use in 2021.
05 · Category
Farm Operations2 stats
01
In 2021, U.S. agriculture emitted about 631 million metric tons of CO2e (EPA inventory for agriculture sector).
02
In 2023, U.S. farmworkers earned a median hourly wage of USD 16.20 (U.S. Department of Labor, Occupational Employment and Wage Statistics).
Interpretation
Farm Operations Interpretation
From a Farm Operations perspective, agriculture’s 631 million metric tons of CO2e emissions in 2021 show the sector’s climate impact, while farmworkers’ median hourly wage of USD 16.20 in 2023 highlights the ongoing economic pressures alongside that environmental burden.
06 · Category
Industry Overview5 stats
01
1.9 million U.S. farms were reported in the 2022 Census of Agriculture (if using 2017 Census baseline, ERS estimates persist).
02
2.7 million acres were enrolled in Conservation Reserve Program (CRP) as of FY 2023 end (USDA FSA CRP program data).
03
1.5 million farms in the U.S. were classified as small farms (less than 1800 acres) in the 2017 Census of Agriculture (USDA NASS).
04
0.79 tons per hectare average global maize yield was reported for 2022/2023 season (FAOSTAT maize yield series).
05
1.5 billion people face moderate or severe food insecurity (FAO SOFI 2023), reflecting demand-side pressure on agriculture.
Interpretation
Industry Overview Interpretation
The industry overview is shaped by scale and pressure at the same time, with 1.9 million U.S. farms reported in 2022 alongside 1.5 billion people facing moderate or severe food insecurity, underscoring how demand stresses agriculture while only 2.7 million acres are under CRP enrollment.
report visual · Comparison
U.S. Crop Insurance Coverage and Weather Impacts (2022–2023)
A large share of U.S. crop insurance policies are multiple-peril, while drought and extreme-weather impacts show up as a measurable portion of farms and farmland affected.
U.S. crop insurance gross premium written was USD 144.2 billion for policies sold in crop year 2023 (USDA RMA).144.2
In 2023, 75% of crop insurance policies in the U.S. were in force for multiple-peril coverage (RMA risk management stati
75%
7.8% of U.S. farms reported experiencing crop loss from drought in 2022 (USDA Farm Service Agency / NASS reported loss i
7.8%
1.0% of U.S. farmland was damaged by extreme weather events leading to crop insurance claims in 2023 among covered acres
1%
source-verifiedrma.usda.gov · ers.usda.gov2023
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Marie Larsen. (2026, February 13). Farm Industry Statistics. Gitnux. https://gitnux.org/farm-industry-statistics
MLA
Marie Larsen. "Farm Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/farm-industry-statistics.
Chicago
Marie Larsen. 2026. "Farm Industry Statistics." Gitnux. https://gitnux.org/farm-industry-statistics.
Sources & references
25 datasets cited across this report · attribution is report-level
+12 additional datasets cited (not shown individually)