Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Serving: IA

Webinars to help with ARC, PLC options

Tyler Harris Grain auger with grain being dispensed into grain cart
DECISIONS COMING: ISU Extension is offering a series of webinars to help Iowa growers understand their options for the upcoming decision between ARC and PLC.
Virtual farm bill meetings will start Jan. 19 to help producers with election decisions by March 15 deadline.

Iowa producers have until March 15 to make their annual election for Price Loss Coverage or Agriculture Risk Coverage under the 2018 Farm Bill.

This annual decision is unlike the previous farm bill, when producers made a one-time decision for their operation that was in place for the life of the bill.

Webinars planned

To help Iowans understand their options for 2021, Iowa State University Extension is offering a series of webinars. The first webinar is at 1 p.m. Jan. 19, and will feature staff from USDA's Farm Service Agency addressing program logistics, changes for 2021 and how producers can best work with their county FSA office that may remain closed to the public through the sign-up date.

The basic choices continue to be Price Loss Coverage, and Agriculture Risk Coverage (at the individual and county levels). A farmer's choice will depend on the type of operation, and the county and region where the farm is located. PLC payments are triggered when the marketing-year average price falls below the reference prices of $3.70 per bushel for corn and $8.40 per bushel for soybeans.

Current USDA projections for 2021 are close to $4 per bushel for corn and $10.55 per bushel for soybeans. Whereas, ARC-CO payments are triggered when actual county revenue for the crop is less than the guarantee.

Alejandro Plastina, associate professor in economics and Extension economist at Iowa State, will review the analysis process at 1 p.m. Feb. 5.

“We are excited to present our new decision tool,” Plastina says. “It calculates the highest county yield that would trigger ARC-CO payments in 2021-22, for a user's defined price and a range of ±20% of that price, and shows the probabilities for each of those yield triggers based on historical county yields.”

The two statewide webinars will be followed up by farm management field specialists holding regional webinars, presenting various scenarios with the most recent price projections, and answering questions and concerns.

“While payments may not have the financial impact we have seen in previous years, producers should still review the decision for this risk management option with benchmark data as well as price projections for the current marketing year,” said Ann Johanns, program specialist in economics with ISU Extension. “If a producer does not make a change by March 15, the election from the previous sign-up is retained.”

Registration information

There is no cost to join the live webinars, and all virtual sessions will be recorded and available for viewing on the Ag Decision Maker website the day following the live session.

With guidelines on in-person programming evolving, some in-person sessions may be offered in areas of the state. See the Ag Decision Maker webpage for details on the webinar series and a calendar of in-person programming.

A separate webinar will be held Jan. 21, on the topic of “Farm Transitions in 2021 and Beyond.” The presenters are Melissa O' Rourke, farm and agribusiness management specialist with ISU Extension and Outreach, and David Baker, director of the Beginning Farmer Center. View this webinar on the : Ag Decision Maker webpage.

Meeting dates, speakers

The dates and speakers for the meetings follow:

  • Jan 19, 1 p.m., Program Sign-up with USDA FSA, Katie Kramer, Kevin McClure
  • Feb 5, 1 p.m., Ag Decision Maker Tools and Program Analysis, Alejandro Plastina
  • Feb 9, 1 p.m., East Central Iowa Decisions, Ryan Drollette
  • Feb 10, 1 p.m., Central Iowa Decisions, Patrick Hatting
  • Feb 16, 1 p.m., West Central Iowa Decisions, Tim Christensen
  • Feb 17, 10 a.m., North Central Iowa Decisions, Kelvin Leibold
  • Feb 17, 1 p.m., Northeast Iowa Decisions, Melissa O'Rourke
  • Feb 18, 10 a.m., Northwest Iowa Decisions, Gary Wright
  • Feb 18, 1 p.m., Southwest Iowa Decisions, Tim Christensen
  • Feb 19, 1 p.m., Southeast Iowa Decisions, Charles Brown
Source: Iowa State University Extension, which is responsible for the information provided and is wholly owned by the source. Informa Business Media and its subsidiaries aren't responsible for any of the content contained in this information asset.

 

TAGS: USDA
Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish