The deadline for your ARC or PLC decision is March 15; however, the time to start acting on that is now. Indiana’s Farm Service Agency estimates that only 6% of Indiana farms have signed up so far.
During a webinar hosted by Purdue’s Center for Commercial Agriculture, Indiana FSA program specialist Kaitlin Myers says, “There’s only about 41 working days left to see the majority of our producers through our office. So, it’s really important to make your appointment early, get that paperwork done, and if a producer makes an election now and changes their mind later, they can always change their election up until that deadline.”
Director of the Purdue Center for Commercial Agriculture Dr. Jim Mintert gave recommendations on where producers should start with making their decision.
“For corn and wheat, we think starting with the PLC program as your initial choice, and then think about whether or not, for some reason, ARC County might be a better fit for you in that particular situation.”
On the soybean side, “We think most of you are going to want to start with ARC County as your initial program choice and then think about whether or not, for some reason, you might want to choose PLC on a particular farm for a particular reason.”
But for those who experienced a significant production loss, 20% or more in 2019, Mintert says you want to at least evaluate ARC Individual Coverage. He anticipates that a significant payment would be doled out for the 2019 crop year, “But if we have anything remotely close to normal weather and normal production patterns in 2020, probably not collect anything in 2020.”
But he says if you average that payment out over the course of two years, it might still look better than ARC-CO or PLC.
Visit the Purdue Center for Commercial Agriculture website for resources to help make your 2018 Farm Bill decisions.