Farmers will have another opportunity this fall to choose between the Price Loss Coverage and Agriculture Risk Coverage farm programs. Current market projections suggest PLC may provide payments for many producers. Farm management specialist Kent Thiesse said corn, soybean and wheat prices are currently below their respective reference prices. “For corn, the reference price for PLC payments is $4.42 per bushel and the current estimate is about $4.15,” Thiesse said. “That would likely result in a PLC payment of roughly $20 to $30 per corn base acre.” Soybeans have a reference price of $10.71, with current projections around $10.40, which could mean PLC payments of about $10 to $15 per base acre. Wheat could see much larger payments because the $5.05 projected price is well below the $6.35 reference price, putting many counties in the $40 to $50 per acre range. Thiesse said producers should have a much clearer picture before enrollment begins.
