Will ACRE Pay in 2012?

ACRE, or the Average Crop Revenue Election, is a revenue based program contained in 2008 Farm Bill.In Illinois, 2012 ACRE payments for corn are possible if the Market Year Average (MYA) price for corn averages below $7.00 per bushel.In Illinois, ACRE payments are unlikely for soybeans or wheat. Corn ACRE PaymentsACRE makes payments when state revenue, as measured by the state yield times the national MYA price, is below benchmark revenue.The 2012 benchmark revenue for corn is $705.34 per acre.The National Agricultural Statistical Service (NASS) currently estimates the state yield for corn at 101 bushels per acre.The 101 yield is low compared to recent yields, with the state corn yield averaging 167 bushels per acre over the past five years.