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(Posted Wed. Aug 27th, 2014)
Those who missed the webinar on risk management options created under the 2014 farm bill recently hosted by the National Corn Growers Association and DTN can now access the information presented online.
“ARC or PLC Choices: Which Farm Bill Contingency Plan Is Right for You?” featured insights from economists Carl Zulauf of Ohio State University and Gary Schnitkey of the University of Illinois, who explained the new programs and fielded questions from attendees.
Farmers will need to update their base acres at the Farm Service Agency office in the coming months. Later this winter, they will make a one-time choice between Price Loss Coverage and Agricultural Risk Coverage for their 2014-2018 crops.
Tenants and landlords on a FSA farm must reach a unanimous decision on which program to elect. If no decision is reached and an election is not made, the farm defaults to PLC for 2015-2018 and forgoes payment for 2014. Tenants will need new written Powers of Attorney authorizations for program sign-up.