Crop Insurance

As corn and soybean prices have continued to fall, expectations for potential indemnification from crop insurance revenue-based products rise. While Supplemental and Enhanced Coverage Option (SCO and ECO) policies are not nearly as widely used as the Revenue Protection (RP) crop insurance policies, they can provide additional coverage, especially in years when prices fall significantly from Spring to Fall. 

SCO and ECO policies supplement a producer’s underlying individual coverage with additional area-based coverage.  At current futures price levels, payments from ECO seem likely for 2024, particularly if county yields are not...