What a difference in harvest conditions from last year to this year! With any luck harvest will be completed in October this year, vs June! We have a wide swath and varying degrees of bushels and conditions, but the weather has been extremely cooperative to date.
Over the last year our office staff performed 576 ARC/PLC analysis and yield update forms on behalf of clients. These calculations were instrumental in helping clients decide which option to choose along with updating PLC yields. The most common options were PLC on small grains, corn was about split on ARC/PLC, and soybeans leaned towards ARC.
To trigger an ARC-Co payment, the county the land resides in must fall below 86% of the expected county revenue. To trigger a PLC payment, the price of the commodity of the marketing year must fall below the reference price established in the last farm bill. PLC payments are made up of 85% of your base acres by crop by FSN, multiplied by the corresponding PLC Yield.
For the PLC payments please refer to the previous post titled “program overviews”.
For the ARC-Co payment rates please click this link to access. We have put all of the program crop on their own tab on the bottom of the spreadsheet and listed all counties in North Dakota on the right. If you are wondering about counties in MN and SD please call the office, as there is so much data.
It is best to pull the spreadsheet up on a personal computer as there is an immense amount of data.
We are busy with production losses and preparing for the 2021 crop season. As mentioned at our crop meeting in February, there will be some changes to prevent plant pricing and quality buybacks on commodities, with some other enhancements as well. Our crop agents and I are headed to West Virginia this weekend to meet with RMA, FCIC, and will be guests of Senator Hoeven and Senator Boozeman. Senator Boozeman is from Arkansas and is projected to be the next chair of the Ag Committee. It is very humbling to have this opportunity, and we want to make sure all of our clients have a voice when it comes to production agriculture. If you have any specific concerns you would like addressed, please let the office know ASAP.