SPIRIT LAKE, Iowa – Iowa producers have until March 15, 2021 to make their annual election for Price Loss Coverage or Agriculture Risk Coverage (at the individual or county levels) under the 2018 Farm Bill.
This annual decision impacts the 2021 crop year, consistent with the 2018 Farm Bill. Similar annual decisions, for the 2022 and 2023 crops, will coincide with the final two years of the bill.
In order to help Iowans understand their options for 2021, Iowa State University Extension and Outreach will hold in-person meetings throughout Northwest Iowa in February through early-March, as well as offer virtual webinars for those who cannot attend in person.
“The key decision is between Price Loss Coverage and Agriculture Risk Coverage (county or individual),” said Gary Wright, farm management specialist with ISU Extension and Outreach. “A farmer’s choices will depend on the type of operation, where located, and their price outlook.”
Wright explained that 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. Whereas, ARC-CO payments are triggered when actual county revenue for the crop is less than the guarantee. Wright says current USDA projections for 2021 are close to $4 per bushel for corn and $10.55 per bushel for soybeans.
Ag producers and landowners are encouraged to be proactive and attend an in-person or virtual session if they have questions about their options. In order to properly mitigate COVID-19 risks, pre-registration is required, and a fee may be assessed. Sessions will be one-hour in length, with additional time for questions at the end.
Current in-person meetings are scheduled as follows:
- Feb. 17, 5:30 p.m., Expo Center, 310 NE 1st St., Pocahontas; Preregister to 712-335-3103.
- Feb. 23, 9:30 a.m., ISU Extension and Outreach Cherokee County Office, 209 Centennial Dr., Cherokee; Preregister to 712-225-6196.
- Feb. 24, 9:30 a.m., Prairie Lakes AEA Building, 824 Flindt Dr., Storm Lake; Preregister to 712-732-5056.
- March 1, 7:00 p.m., Le Mars Convention Center, 251 12th St. SE, Le Mars; Preregister to 712-546-7835.
- March 2, 5:30 p.m., Dordt University Ag Stewardship Center, 3648 US 75, Sioux Center; Preregister to 712-737-4230.
- March 4, 1:00 p.m., Immanuel Lutheran, 409 N. 6th St., Estherville; Preregister to 712-362-3434
- March 9, 9:30 a.m., Community Room, Dickinson County Fairgrounds, 1602 15th St., Spirit Lake; Preregister to 712-336-3488.
- March 11, 9:30 a.m., Grace United Methodist Church, 311 2nd Ave. W, Spencer; Pre-register to 712-262-2264.
If you would prefer to attend a virtual learning session, visit the Ag Decision Maker Farm Bill information and resources webpage at https://www.extension.iastate.edu/agdm/info/farmbill.html. Additional questions can be directed to Gary Wright at 712-223-1574 or email@example.com.
–Iowa State University Extension