Hardin County – The 2018 Farm Bill reauthorized the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) safety net programs that were in the 2014 Farm Bill. Producers must enroll in ARC/PLC for the 2022 crop year through their local Farm Service Agency office. The signup period for the 2022 crop year is open now, and the deadline to enroll and make amendments to program elections is March 15, 2022. Most producers should have made this election by now.
If changes are not made by March 15, 2022 deadline, the election defaults to the programs selected for the 2021 crop year with no penalty. Have you made your ARC/PLC elections for the 2022 crop year yet? If not, make sure you make arrangements to get this taken care of before the March 15 deadline at the FSA office. If you are wanting to learn more about the farm bill election and enrollment, as well as a crop insurance primer, there is a recording of a webinar presented by Ross County OSU Extension Educator Chris Bruynis that has Hardin County examples. You can find the recording of this webinar of the Farm Bill and Crop Insurance at: https://go.osu.edu/arc-plc
Producers again have the option to enroll covered commodities in either ARC-County, ARC-Individual, or PLC. Program elections are made on a crop-by-crop basis unless selecting ARC-Individual where all crops under that FSA Farm Number fall under that program. ARC program payments are made when crop revenue falls below a guaranteed level, while PLC payments are made when a crops specific effective price is lower than its reference price.
While the 2018 Farm Bill does allow for reference prices to change, indications are that we will not see any changes in 2022. The established reference prices are: corn $3.70; soybeans $8.40; and wheat $5.50. Unless we experience significant reductions in yield and/or price, it is unlikely any ARC/PLC payments will be made this year.
OSU Extension has a newly updated software program to assist producers with evaluating ARC/PLC scenarios and options. This tool is available by contacting your local Extension Educator or by accessing it on-line at: https://farmoffice.osu.edu/farm-management-tools/decision-aids
Article written by Chris Zoller-OSU Extension, Tuscarawas County and edited by Mark Badertscher-OSU Extension, Hardin County.