(Le Mars) — Monday, March 15th serves as an important date for farmers. That date is the deadline for farmers to sign-up for crop insurance coverage, as well as to decide which coverage program they wish to enroll through the 2018 Farm Bill. Jeff Davis serves as the Director for both Plymouth and Sioux County Farm Services Agency as part of the U-S Department of
Agriculture. He says farmers need to contact his office to inform officials if they want to participate in the Price Loss Coverage program or P-L-C, or if they intend to enroll with the Agricultural Risk Coverage plan, or A-R-C.
Davis explains the Agricultural Risk Coverage protects farmers with any anticipated yield loss with their crops, while the Price Loss Coverage protects against any possible price reduction.
The F-S-A director says if a crop loss does occur, the payment won’t be calculated until long after harvest is completed. He says officials will look at the average yield for the county, as opposed to the individual farm.
Davis says farmers need to report to their county U-S-D-A office by Monday, only if they intend on making any changes to their farm bill program coverage.
Davis estimates that nearly 80 percent of the area’s farmers have already signed up, leaving the remaining 20 percent that needs to act before the Monday afternoon deadline.
Robin Reid serves as the Extension Farm Economist with Kansas State University. Reid says farmers need to decide if they will participate in the Price Loss Coverage or the Agriculture Risk Coverage at both the individual farm or county levels as set up in 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. Reid offers a brief summary as to the high points between the Price Loss Coverage plan, and the Agriculture Risk Coverage program.
The K-State Economist tells of the contrasting differences with the Agriculture Risk Coverage.
Reid says farmers will want to weigh their options based on the current price of commodities, and the projected price.
The agricultural economist says corn could go either way, and there may be more factors that could affect the upcoming corn crop.
Reid says the farm program offers some flexibility allowing farmers, if they want, to participate in one program with one commodity, and the second program with a second commodity.
