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SE ND | I've purchased it in the past. In 2021 it was a very beneficial program due to drought in much of ND. Starts paying at 6% loss and maxes out at 14%. Either decrease in yield, price, or combination of both. The last few years we did not collect because of higher than normal county yields that overcame the drop in price.
65% subsidy was needed to keep insureds interested in rolling the dice on it. One thing that I feel is important is if your county has variable areas that you factor it into your decision to take ECO. This is my case here with our land being in some of the poorest area of the county and a failure on our farm doesn't mean that the county will struggle. If I was in the more productive area of the county I'd be much more tempted to buy ECO.
I was told recently that the goal of increasing subsidy is to drive higher mpci coverage and reduce the farm program payments. | |
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ECO price per acre. Any ideas?
