MinnStar Bank Senior Vice-President and farm management analyst Kent Thiesse says the farmers who enrolled corn or wheat in the 2019 Price Loss Coverage Program will be getting a payment. “The final price came in at $3.56 and the reference price for corn is $3.70, which means a 14 cent PLC payment for corn,” explains Thiesse. “If farmers have a 135 bushel corn yield, it will be a shade over $16 per base acre and if it’s at 150 bushels an acre, farmers are between $17.50 and $18 an acre.” The final PLC price for wheat is 92 cents. There’s no 2019 PLC payment for soybeans, but many farmers chose to enroll their soybeans in the Agricultural Risk Coverage program. Thiesse anticipates 23 counties in North Dakota getting a soybean ARC-CO payment. In Minnesota, 45 counties are estimated to get a payment. There will be a federal sequestration reduction of 6.2 percent in the final payments. Farmers should be receiving their 2019 payments by mid-October.
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