Source: Chris Bruynis, Assistant Professor, OSU Extension, Ross County
I have been telling farmers all spring to wait to make the ACRE/DCP Election until late May and gather information about the crop condition and price outlook. Well that time is approaching. On 5/15/13 the harvest market price for corn, soybeans, and wheat were $5.64, $13.38, and $7.05 respectively. Yield estimates continue to be lowered due to the weather and delayed planting across Ohio. Using trend yields (see table below) and harvest market prices for 2013, ACRE should not make a payment in 2013 unless yield and/or average market price for the 2013 crop year changes significantly. However, the premium to enroll in ACRE is relatively small (>$4.00/acre), and one might still consider enrolling to mitigate risk of lower market prices during the upcoming market year (harvest to harvest). If anyone wants to discuss this issue further, I can be reached at 740-702-3200 or at bruynis.1@osu.edu.
