Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 5/30/18

In recent months, forecasts of 2017 Market Year Average (MYA) prices have increased. Higher MYA prices will result in lower 2017 payments for the Agricultural Risk Coverage at the County level (ARC-CO) commodity title program (Price Loss Coverage (PLC) will be reduced as well). We provide 2017 ARC-CO payment estimates using MYA price forecasts of $3.40 for corn, $9.35 for soybeans, and $4.70 for wheat, midpoints in the May 2018 WASDE report. Few counties in Illinois are projected to receive 2017 payments on corn and soybeans. Around half of Illinois counties will receive wheat payments. National maps of payment estimates show few counties will receive payments for 2017 ARC-CO payments, except for wheat. For fall cash flow planning, most Illinois farmers and landowners should budget for no or low ARC-CO payments.

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