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Abstract

The 2008 Farm Bill provided an option for receiving commodity program payments through existing programs or a new revenue-based alternative – the Average Crop Revenue Election (ACRE) program. ACRE is a state-level revenue program which, if elected, replaces the price-based countercyclical program. Enrollment requires the forfeiture of 20 percent of a producer’s direct payments and reduces loan rates by 30 percent. This article provides estimates of long-term expected ACRE payments for corn, soybean, and wheat acres across a variety of states. Within the cornbelt, expected ACRE payments are similar across regions for each of the crops considered, and will likely exceed the required reduction in direct payments. Outside of the cornbelt, expected ACRE payments vary considerably.

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