For Boyd and the Endsley family, ECO is more than just an insurance option—it’s a way to ensure the resilience and success of their farm for generations to come.
Navigating Risk in Modern Farming
As any farmer knows, managing risk is an essential part of running a successful operation. For Boyd Endsley, a livestock farmer in Barry County, Michigan, balancing risk and reward has been a constant focus in his family’s multigenerational farming business. When it came to mitigating price volatility in 2023, Boyd turned to GreenStone and an Enhanced Coverage Option (ECO) as a part of his crop insurance policy to help secure his farm’s financial stability.
“In 2023, we decided to add ECO coverage because we saw a lot of potential for crop prices to drop, which could trigger an ECO payment,” Boyd shared. “We wanted to manage that risk, and it ended up being a good decision for us.”
How ECO Provides Protection
ECO, an additional layer of crop insurance, provides coverage from 86% up to 95% of a county’s expected yield or revenue. Unlike traditional crop insurance policies, ECO is designed to protect against county-wide yield and revenue losses. With the subsidies for ECO increasing from 44% to 65% in 2025, this highly affordable option is gaining popularity among farmers who are looking to navigate an unpredictable agricultural market.
For the Endsleys’, 2023 demonstrated the value of ECO firsthand. While Barry County’s average yield for corn exceeded expectations at 166.1 bushels per acre—above the projected yield of 161.8—a significant drop in the harvest price, from $5.91 to $4.68 per bushel, triggered an ECO payment. This additional income proved invaluable in a year when commodity prices were down.
“In a year when our income was lower because of declining prices, the ECO payment provided critical support,” Boyd explained.
Trusted Guidance and Strategic Decisions
Boyd’s decision to adopt ECO came with the guidance of Kristen King, his crop insurance specialist at GreenStone. Kristen has worked closely with the Endsley family for more than a decade, helping them navigate the complexities of crop insurance and other financial tools to support their operation and mitigate risk.
“Kristen is incredibly knowledgeable and always on top of her game,” Boyd said. “She knows the products inside and out and can explain how they work in different scenarios. She’s great at making sure I have everything turned in on time and keeps me informed about all my options.”
For Kristen, Boyd’s approach to ECO exemplifies strategic risk management. “Boyd is an intelligent guy who really pays attention to the numbers,” she said. “He’s not someone who’s going to take ECO every year—he evaluates the market and decides based on the potential for price declines. That’s where ECO really shines. It’s highly subsidized and provides great coverage in years when there’s significant price risk.”
Balancing Coverage Across Crops
In 2024, Boyd opted to continue using ECO for his soybean crop, anticipating further price declines in that market, while choosing not to apply it to his corn, which he believed had less downside risk.
“Soybean prices looked like they might continue to decline, so we decided to keep ECO on that crop,” he said. “Corn, on the other hand, didn’t have as much room to drop, so it didn’t make as much sense to use ECO there this year.”
The results of this decision will become clear in June 2025, after all 2024 yield data has been finalized.
A Legacy of Resilience
The Endsley family’s farm is a true legacy operation, with Boyd working alongside his parents, Patricia and Gordon, to grow corn, soybeans and wheat, as well as manage a cattle herd that has been part of the farm since 1955. Boyd’s commitment to thoughtful risk management and strong partnerships has helped him carry on that legacy while adapting to the challenges of the modern agricultural climate.
The Future of ECO and Risk Management
Looking ahead, both Boyd and Kristen see ECO as a valuable tool for farmers who want to protect their operations against market uncertainty.
“With the increased subsidies coming in 2025, ECO will be even more affordable and attractive to farmers who anticipate price volatility,” Kristen said. “It’s a flexible option that can really make a difference in the right conditions.”
Boyd agrees. “For us, ECO provided stability in a year when we needed it,” he said. “With the changing in premium subsidy, we will look at ECO again for 2025 and see if it is an affordable long-term option to insure against loss from a production standpoint for the top 10% of our risk”
As GreenStone continues to offer ECO as part of its comprehensive risk management offerings, Boyd’s story highlights how strategic decisions and trusted partnerships can help farmers weather the ups and downs of the agricultural industry. For Boyd and the Endsley family, ECO is more than just an insurance option—it’s a way to ensure the resilience and success of their farm for generations to come.
To view the winter 2025 issue of Partners magazine in its entirety, click here.
