By Chris Bruynis, Extension Educator, Ohio State University Extension
The 2021 decision for making the crop insurance and farm bill decisions is all about risk management. With the recent increased crop prices and the volatility in the markets, crop insurance is expected to increase by about 50% to 60% this year compared to last year. So, with crop insurance more expensive and the choice between Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC) unclear, the strategy to protect risk exposure becomes more interesting. In this article different strategies are outlined looking at ARC/PLC with Revenue Protection (RP), Supplemental Crop Option (SCO) and Enhanced Coverage Option (ECO).