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Tag Archives: risk management

PAYMENTS MAILED

Farm program checks totaling nearly $4 billion could start arriving as early as Tuesday in farmers’ bank accounts across the country, providing a much needed boost while many commodity prices are falling. It’s the first ARC/PLC payments for the 2014 crop year.

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PAYMENT SEQUESTRATION

Recent reports indicate that payments from the Price Loss Coverage (PLC) or Agriculture Risk Coverage (ARC) programs for the 2014 crop year may be reduced by nearly 7% due to sequestration. Check the latest at FarmDoc.

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ARC/PLC SIGNUP

USDA Secretary Tom Vilsack has announced that eligible producers may now formally enroll in the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs for 2014 and 2015. The enrollment period begins this Wednesday (June 17), and will end Sept. 30, 2015.  Check out details on FarmWeekNow.com.

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CROP INSURANCE

USDA’s Risk Management Agency (RMA) Friday announced more options for farmers who elected the Supplemental Coverage Option (SCO) or Actual Production History (APH) Yield Exclusion in their crop insurance plans. RMA announced that alfalfa seed, cultivated wild rice, dry peas, forage production, oats, onions, rye and winter wheat are eligible in certain counties for APH… read more

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CROP INSURANCE

For the 2014 crop year, corn indemnities have totaled $3.7 billion, much of which has gone to just two states: Iowa ($1.1 billion) and Minnesota ($1 billion). Illinois’ total was just $143 million.

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SIGNUP EXTENSION

Farm program signup deadline for ARC/PLC has been extended to April 7, USDA announced this morning.

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NOT CHARGING ENOUGH

Farmers often aren’t being charged enough for crop insurance in drought-prone areas of the Plains and other high-risk regions, according to congressional auditors. From 2013 to 2014, RMA raised some premiums, but not all, in higher-risk counties by the maximum 20%, GAO said.

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FARM BILL COSTS

The government will pay $6.5 billion in crop subsidies for this year’s grain and soybean crops because of falling commodity prices, according to an estimate by the Food and Agricultural Policy Research Institute. Average ARC and PLC payments are projected to peak with the 2015 crop and decline to $3.4 billion for the 2018 crop.

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2015 COMMODITY CHALLENGE

Illinois Farm Bureau has partnered with GROWMARK, AgriVisor & CME Group and invites members to join our free online marketing simulation. Deadline is March 15.

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CROP INSURANCE WEBINAR

Farmdoc will host a webinar this Friday morning at 8 a.m. for making 2015 crop insurance decisions given lower projected prices and new government programs. Focus will be given to Supplemental Coverage Option, Yield Exclusion, and Beginning Farmer Discount. You need to pre-register.

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