Fsa. Question. Which farm program are you signing up for this this year ***. Or PLC
The Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs were authorized by the 2014 and 2018 Farm Bills.
I’ve been ARC since it started, but I’m switching to PLC with this signup because I went with SCO option on insurance
We are doing the exact same thing. Estimate numbers are out for PLC and we would max out, so it's hard not to go for that program.
Not seeing a benefit to switch from PLC to ARC for us. Probably stick with it but will run the numbers and see.
Kansas State and Oklahoma State have been working on a decision model. Their best advice now is not to get in a hurry to sign up. You have until March 15, so you could know a lot about what 2019 county yields look like by early next year.
It appears for corn and wheat, PLC will be the best option. Beans still have a couple good years of prices in the revenue average, so it will be worth considering ARC, but PLC May also make sense depending on your county and where prices end up.
We have been ARC for the lest few years but up at the FSA the other figure we left 6 figures on the table... :(((
We left plenty on the table also so I changed to PLC.
They finally have this released. I haven't played around with it yet though.
Not sure but in Ohio arc-county was the way to go. But plc deserves a look because crop prices are so far down. Tough call
NAP because you silly Midwestern farmers trapped with those corn and beans getting 20 dollars an acre is a joke. *** peanuts, ARC the rest. Collect LDP pass go, bump head on payment limits. *** *** ***, I mean. 'national appeals' then she when hey don't pay legal, pass go argue about WHIP, she. Argue about MFP payments. ***. Do a good job lose money. Do a bad job, lose money. Only way make it is payments boys. Off topic. Good luck.
Sense please. If there is any
Alcohol was involved!!!!!
Off topic but is any one going to signup for margin protection insurance?
Yes if your talking Global Ag, best insurance protection out there. It grows as you put more inputs into your crop. And the premium stays the same but your coverage grows.
Harvest is over. Any additional thoughts?
In our area being mostly irrigated PLC was a fairly easy choice. With there being a low likelihood of the county yield being effected by drought due to irrigated acres it would take a large scale disaster to wipe out enough crops to lower county yield to a level that would trigger payment under ARC. That being said the only element we need to protect is price and the PLC program protects against that and will start triggering payments at a higher price than would the ARC program here. Corn would have to get sub $3.00 to even get close to triggering a payment under ARC.
So basically if you are irrigated and only looking to protect price risk with the program PLC is the way to go. Also we were told in meetings that with the way FSA calculates MYA prices under ARC it would take 3 years of high prices for a price higher than $3.70 to be put into the ARC payment formula due to the skip year in data and dropping the high and low price in their average.
This is only for an irrigated scenario so don't use my opinion for any dryland decisions will be a totally different mindset.
Plc is the way we go. We had our annual meeting and our insurance agent recommends that we get PLC through FSA and get supplement coverage through them. The supplemented coverage is subsidized so you get a bit of a discount on your acres!
What do you mean by supplement coverage? I'm not sure if I've heard of that in this context but it sounds interesting.
Supplemental Coverage Option. You can purchase it from your crop insurance agent on farms not enrolled in ARC. It is based on the county, not your own yield history. Let me know if you would like more details. *** has 65% premium subsidy!
PLC for corn, ARC for soybeans
Most are taking plc corn arc on beans .. but if you had any preventive planting you better stay with arc-co because it's will pay you but you could lose out in the 2021 year.
plc is the only thing we have ever gotten paid on. Most of our wheat acers are in arc gotten 1payment. We have a few in plc have been paid on them every year. I think it is a dumb program
If corn is 3.70 or over for a avg. you will not get a payment on plc so I guess you have to look at the avg. price over the past 3 years it comes out at 3.70 each of those years ...so if you believe corn is going to avg. 3.70 for the next 2 years better go arc if not go plc on corn ....Beans is really a no brainer where the price is on the avg. for plc it won’t pay ...wheat looks like plc is the only way to go . It’s a gamble like everything we do !