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Around the County

Estimated 2017 ARC-CO Payments Released

Terri Casey
The National Agricultural Statistical Service (NASS) released county yields for 2017 (released February 22) on NASS's Quick Stats website. With these NASS yields, fairly accurate estimates of 2017 Agricultural Risk Coverage at the county level (ARC-CO) payments can be made. Visit the link below to see U.S. maps showing estimated payments per base acre for corn, soybeans, and wheat. A table showing estimated payments per county in Illinois also is given.

http://farmdocdaily.illinois.edu/2018/02/estimated-2017-arc-co-payments.html

Fewer counties are receiving 2017 payments than in 2016 (see farmdoc daily, October 6, 2017). ARC-CO uses five-year Olympic averages in calculating benchmark prices and benchmark yields. By design, benchmark prices will decline in periods of low MYA prices. As a result, benchmark prices used to set guarantees for corn have been coming down, resulting in fewer payments. The 2016 benchmark price was $4.79 compared to a $3.95 price in 2017. Moreover, yields were above average over much of the United States in 2017.

Source: Schnitkey, G., J. Coppess, C. Zulauf, and N. Paulson. "Estimated 2017 ARC-CO Payments." farmdoc daily (8):34, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, February 27, 2018.