This disaster assistance program was passed last year and by law has to start dispersing funds no later than March 21st, 2025. The total ECAP funding is 30 billion. The first 10 billion will be distributed in the form of per acre Payments. FSA will be mailing preprinted applications based off your certified acres from 2024. These applications should be checked for accuracy as there is sure to be discrepancies on Prevent plant acres that were certified as wet fallow. In these cases where there are discrepancies you will simply need to bring in your 2024 schedule of insurance to the FSA to recertify these acres to get properly paid on them. In cases where there are no discrepancies simply sign the pre-printed application and return it to your local FSA. As a reminder of the payment rates, I have attached an estimated payment schedule.
*** I have heard that the oil commodities might vary a little from the published rate
*** Prevent plant acres will be paid at 50% of the corresponding rate
*** There should be no factoring or sequestration of payments
ECO Coverage
Sales closing is March 17th this year as the 15th falls on Saturday. With the uncertainty in the marketplace whether it be the looming tariffs, fear of drought, or just the need for added protection. It is worth a second look before the deadline ends.