USDA Improves the Enhanced Coverage Option (ECO)
The USDA’s Risk Management Agency (RMA) is increasing the premium support for the Enhanced Coverage Option (ECO) starting with the 2025 crop year to make the policy more affordable for producers. Specifically, the change will increase premium support to 65% for all crops covered under ECO. The move could potentially impact forthcoming farm bill discussions, as similar proposals are being considered to boost the Supplemental Coverage Option (SCO). However, unlike SCO, growers can use ECO without restrictions related to the ARC County commodity program. For more details, visit the full RMA press release. Additionally, an article by Farmdoc explores the performance of SCO and ECO in the Midwest.
Deadline for ERP Disaster Program – August 14
The USDA has announced an application deadline of August 14, 2024, for the Emergency Relief Program (ERP), for producers affected by 2022 natural disasters. The Farm Service Agency (FSA) started accepting ERP applications for 2022 in October 2023. Producers who suffered from natural disasters in 2022 are encouraged to submit their applications before the deadline. Currently, there is no confirmed date as to when payments, which have been paused due to litigation, will resume. For more information or to apply, visit this page.