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USDA announced key dates for farm owners and producers to keep in mind regarding the new 2014 Farm Bill established programs, Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC). The new programs, designed to help producers better manage risk, usher in one of the most significant reforms to U.S. farm programs in decades.
Dates associated with ARC and PLC that farm owners and producers need to know:
• Sept. 29, 2014 to Feb. 27, 2015: Land owners may visit their local Farm Service Agency office to update yield history and/or reallocate base acres.
• Nov. 17, 2014 to March 31, 2015: Producers make a one-time election of either ARC or PLC for the 2014 through 2018 crop years.
• Mid-April 2015 through summer 2015: Producers sign contracts for 2014 and 2015 crop years.
• October 2015: Payments for 2014 crop year, if needed.
USDA leaders will visit with producers across the country to share information and answer questions on the ARC and PLC programs.
USDA helped create online tools to assist in the decision process, allowing farm owners and producers to enter information about their operation and see projections that show what ARC and/or PLC will mean for them under possible future scenarios. The new tools are now available at www.fsa.usda.gov/arc-plc. Farm owners and producers can access the online resources from the convenience of their home computer or mobile device at any time.
Covered commodities include barley, canola, large and small chickpeas, corn, crambe, flaxseed, grain sorghum, lentils, mustard seed, oats, peanuts, dry peas, rapeseed, long grain rice, medium grain rice (which includes short grain rice), safflower seed, sesame, soybeans, sunflower seed and wheat. Upland cotton is no longer a covered commodity.
Producers can contact their local FSA office for more information or to schedule an appointment.