WASHINGTON, DC – Producers will have until March 15, 2022, to make or change elections and enroll in the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs through the Farm Service Agency (FSA).
The ARC program provides income support tied to historical base acres, not current production, of covered commodities, and payments are issued when the actual county crop revenue of a covered commodity is less than the county guarantee for the covered commodity.
PLC program payments are issued when the effective price of a covered commodity is less than the reference price for that commodity. The effective price equals either the market year average price (MYA) or the national average loan rate for the covered commodity, whichever is higher.
There are a couple of online tools to help producers make their election for the 2022 growing season, including one from the Agricultural and Food Policy Center (AFPC) at Texas A&M University and another from the National Coalition for Producer Education (NCPE), led by the University of Illinois.
(SOURCE: All Ag News)