Wheat Expected to Lead 2011-Crop ACRE Payments

September 26, 2012 11:53 PM
 

via a special arrangement with Informa Economics, Inc.

Little to be paid out for other crops


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


Payments for 2011-crop Average Crop Revenue Election (ACRE) are expected to around $50 million although final levels have not yet been determined for several crops.

So far, only payment levels for wheat, barley and oats have been determined as those crops’ marketing years ended May 31. For remaining crops, many of the determinations will be made this week after release of the monthly Ag Prices report from the National Ag Statistics Service (NASS). That report will contain the average marketing year prices for crops other than wheat barley and oats.

Estimates currently are as follows:

Crop

Estimated Total 2011 ACRE Payments
(in million dollars)

Wheat

$40.0

Barley

$0.1

Corn, Oats & Peanuts

$0

Grain Sorghum

$5.5

Soybeans

$4.8

Dry Peas

$0.001

Lentils

$0.056

On 2011 crops, USDA data shows so far that Maine triggered an ACRE payment on oats ($10.91 per acre), while for wheat, USDA information shows New Mexico ($34.64 per acre for irrigated; $17.64 per acre for non-irrigated), Oklahoma ($19.27 per acre) and Texas ($34.80 per acre) have all triggered payments. As for other states and crops, contacts advise that will be updated later this week.  


 

NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


 


 

 

 

 

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