Iowa ARC-CO Update
In my post yesterday, I indicated that Iowa might only have 19 counties that qualify for corn ARC-CO payments for this year. After inputting more data for additional counties in other states, I noticed that I had made an error in my spreadsheet. Some of the 2015 county yield data had not come over correctly. In some cases, this would affect the calculation of the benchmark yields. In other cases, it would not since that yield would be thrown out in calculating the Olympic average yield.
After correcting these yields, the actual number of counties in Iowa that should get some type of payment has now changed from 19 to about 49. There are 17 countries showing less than $10 of estimated payments and if the corn MYA increases a bit or final yields increase, they would likely not receive any payment. This means the final number may be closer to 30 counties than 49.
The high range for some counties has gone up too. The highest county is now Johnson County at a maximum payment of about $85. Grundy County is around $61 and there appear to be no other counties over $50.
I will continue to update the spreadsheet with additional counties over the next week or so and once I have most of the county data for the key corn belt states inputted, I will release the spreadsheet so you can look up your county. It takes a fair amount of time to input NASS data since there is no one full database. There is a fair amount of manual entry to get the county yield into a spreadsheet.
I am sorry about the mistake, but dealing with this much data, it can catch you once in a while.
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
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