Last week, the Risk Management Agency (RMA) published county wheat yields for 2024. These yields are used to calculate indemnities for Supplemental Coverage Option (SCO) and Enhanced Coverage Option (ECO) policies purchased for the 2024 crop. The attached maps show actual county revenue as a share of expected county revenue (Figures 1 and 2). This provides an estimate of whether SCO or ECO will be triggered for individual Kansas counties for dryland and irrigated wheat for 2024. Note, the projected 2024 price for winter wheat was $7.34, and the harvest price was $6.27, so counties with average or lower yields are likely to trigger ECO indemnities. The ranges in the map legend can be interpreted using the following tables.
Figure 1. Actual county non-irrigated wheat revenue as a share of expected revenue, 2024.
Table 1. Non-irrigated wheat.
|
Range |
# Counties |
Interpretation |
|
0 - 0.50 |
2 |
Deep yield losses, SCO and ECO triggered, underlying individual policies likely triggered |
|
0.50 - 0.75 |
17 |
Substantial yield losses, SCO and ECO triggered, several individual policies likely triggered |
|
0.75 - 0.86 |
9 |
Shallow yield losses to average yield, SCO and ECO triggered |
|
0.86 - 0.95 |
14 |
Average or slightly above average yields, ECO triggered |
|
0.95 - 1 |
7 |
Above average yields, SCO and ECO not triggered |
|
1 or higher |
56 |
Above average yields, actual revenue higher than expected |
Figure 2. Actual county irrigated wheat revenue as a share of expected revenue, 2024.
Table 2. Irrigated wheat.
|
Range |
# Counties |
Interpretation |
|
0 - 0.50 |
0 |
Deep yield losses, SCO and ECO triggered, underlying individual policies likely triggered |
|
0.50 - 0.75 |
2 |
Substantial yield losses, SCO and ECO triggered, several individual policies likely triggered |
|
0.75 - 0.86 |
9 |
Shallow yield losses to average yield, SCO and ECO triggered |
|
0.86 - 0.95 |
7 |
Average or slightly above average yields, ECO triggered |
|
0.95 - 1 |
11 |
Above average yields, SCO and ECO not triggered |
|
1 or higher |
76 |
Above average yields, actual revenue higher than expected |
When county yields are published for additional commodities, additional maps will be generated and published on AgManager.info. Crop insurance yield maps and several resources on SCO and ECO are currently available on AgManager.info. Contact jifft@ksu.edu for an individual link to the 2024 SCO and ECO payout tool (spreadsheet), which can be used to estimate 2024 crop year individual indemnity amounts.
Disclaimer: These are estimates only. Contact an insurance agent for information on actual payouts.
For more information about this publication and others, visit AgManager.info.
Jenny Ifft, Flinchbaugh Ag Policy Chair and Extension Specialist
jifft@ksu.edu
Tags: wheat crop insurance RMA