4/24/2023 0 Comments Final oplc payment rate![]() The ARC-CO benchmark (BM) prices for the 2020 crop year were $3.70 per bushel for corn, $9.25 per bushel for soybeans, and $5.50 per bushel for wheat. The actual county revenue is the final county FSA yield for the year times the final market-year average (MYA) price for the same year. The county BM revenue guarantee is the county BM yield times the BM price for a given year times 86 percent (.86). There has not been a PLC payment for soybeans since the initiation of the last Farm Bill in 2014.ĪRC-CO payments for a given crop are paid when the actual county revenue for the crop falls below the county benchmark (BM) revenue guarantee for that crop. There has been a PLC payment for wheat in every year from 2015 to 2020 and prior to 2020, there had been a PLC payment for corn in every year from 2015 to 2019. By comparison, PLC payment rates for the 2019 crop year were $.92 per bushel for wheat, $.14 per bushel for corn, and zero for soybeans. The current 2020-21 MYA price estimates are $5.45 per bushel for corn, $12.90 per bushel for soybeans, and $6.60 per bushel for wheat.īased on the expected final MYA prices, there will not be a 2020 PLC payment for corn, soybeans, oats, grain sorghum or sunflowers however, there will be a PLC payment of $.45 per bushel for wheat base acres that were enrolled in PLC for 2020, as well as small payments for barley and canola. The USDA price estimates are updated on a monthly basis in the USDA World Agricultural Supply and Demand Estimates (WASDE) report, which is usually released around the middle of each month. The MYA price for wheat was earlier finalized at $5.05 per bushel. The price year for MYA prices for wheat and other small grain crops runs from June 1 in the year of harvest until May 31 the following year, with MYA prices finalized on June 30 each year.īased on the end of the 2020-21 marketing year on August 31, 2021, USDA is estimating t he 2020 MYA prices at $4.45 per bushel for corn, and $10.90 per bushel for soybeans. ![]() The MYA price is the 12-month national average price for a commodity, based on the average market price received by farm operators across the United States, which is then “weighted” at the end of the year, based on the volume of bushels sold in each month. The 2020 MYA price for corn and soybeans is the national average corn or soybean price from Septemto August 31, 2021, with the MYA price being finalized on September 30, 2021. ![]() ![]() The established reference prices for the 2020 crop year were: The PLC payments are made in October in the year following the year that the crop was raised (for example, potential 2020 PLC payments will be paid in October of 2021). PLC payments are made anytime that the final “market year average” (MYA) price for a given crop drops below the reference price for that crop. Some farmers in areas with very low crop yields in 2019 chose either ARC-CO or ARC-Individual (farm yield based) on their corn for 20. A majority of producers have chosen the price-based, Price Loss coverage (PLC) program on crop base acres for corn, wheat and other crops for 2018-2021, while the county yield-based Ag Risk Coverage (ARC-CO) farm program choice has been more popular for soybean base acres. Farmers made their 2021 farm program choices earlier this year. Producers initially made their program choice for the 20 crop years and now can make an annual farm program choice each year. Under the current Farm Bill, crop producers have more options for annual farm program enrollment at local Farm Service Agency (FSA) offices. 2020 PLC AND ARC-CO PAYMENTS WILL BE LIMITED
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