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2024 RMA yields trigger some farm safety net payments

A professor of farm management at the University of Illinois says the recently released 2024 yield data from the Risk Management Agency will trigger farm safety net payments for some farmers.

Gary Schnitkey says some areas of Illinois should see Agriculture Risk Coverage (ARC) payments.

“Most counties still won’t get a payment on ARC county for either corn or soybeans, particularly in the central part of the state.  He says, “Southern and northern parts of Illinois may have more of those.”

He tells Brownfield, “It’s 2025 where we will have more of a chance of getting a payment.”  He says, “That occurs because the benchmark price on corn and soybeans for ARC went up considerably in 2025 compared to 2024.”

Schnitkey says corn and soybean farmers that selected the Price Loss Coverage (PLC) program for the 2024 cropping year will not see payments.

Brownfield previously reported the 2024 RMA yield figures would trigger SCO & ECO payments for many corn and soybean producers across the country.

AUDIO:  Gary Schnitkey – University of Illinois