The U.S. Department of Agriculture has announced that revenue-based Enhanced Coverage Option (ECO) and Supplemental Coverage Option (SCO) payments for the 2024 crop year will be triggered in many Illinois counties and throughout the country.
The announcement follows the release of county yield estimates from the Risk Management Agency (RMA), which uses the data to calculate payments for area-based insurance plans, including ECO and SCO. According to a recent farmdoc analysis by the University of Illinois, corn and soybean yields across most of Illinois were at or above trend levels. However, southern Illinois counties saw lower-than-expected yields for both corn and soybeans, and some northern counties underperformed on soybeans.
These payment triggers will provide critical financial support to farmers in affected areas. For more detailed information on yield estimates and payment calculations, producers are encouraged to visit farmdocdaily.illinois.edu.
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