Following the typical pattern, corn yields were highest across the central and northern regions of the state, with lower yields in southern counties. Corn yields were generally at or above trend in Illinois in 2024, with exceptions in some counties in southern Illinois and in Marshall county in north-central Illinois.
Table 1 (see end of article) reports 2024 yields and trend yields for corn in Illinois, along with estimates of per acre payments for the ECO and SCO programs. Purchase of ECO and SCO requires use of an underlying individual farm combo plan, and the payment estimates reported in table 1 assume the underlying plan provides revenue coverage. Since the harvest price for corn in 2024 ($4.16) was below the projected price ($4.66), revenue protection (RP) and revenue protection with the harvest price exclusion (RP-HPE) provide the same coverage. More detailed descriptions of the ECO and SCO programs are available in the farmdoc daily articles from November 24, 2020, February 27, 2014, and April 24, 2014.
County yields combined with the insurance price decline result in corn payments being triggered in 43 of Illinois’ 102 counties for 95% ECO coverage and 10 counties for ECO 90% coverage. Payments from SCO, which has an 86% coverage level, will be triggered in 2 southern Illinois counties – Williamson and Union – for corn in 2024. The size of SCO payments will depend on the coverage level of the producer’s underlying plan as well as the severity of the revenue loss, thus table 1 only provides an indicator for whether an SCO payment would be triggered.
Source : illinois.edu