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159980

Farmers to Receive $7 Billion in ARC, PLC Payments

On Tuesday, the USDA distributed more than $7 billion in payments to farmers under the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs for the 2015 crop year.

“These payments will help provide reassurance to America’s farm families, who are standing strong against low commodity prices compounded by unfavorable growing conditions in many parts of the country,” Agriculture Secretary Tom Vilsack said in a release. 

The Farm Service Agency didn’t provide a breakdown of the payments by program, commodity, or state.

Additional payments will be made later for rice and other commodities when their marketing year average prices are released.

Payments for long and medium grain rice, except for temperate Japonica rice, will be announced in November. Payments for some oilseeds as well as chickpeas will be announced in December, and for temperate Japonica rice in February.

ARC provides payments when county revenue for a commodity falls below the average for previous years. PLC payments are triggered when the average annual price for a commodity falls below a target level. 

Farmers enrolled 96% of their soybean base acres, 91% of corn base acres, and 66% of wheat base acres in the ARC-County program. Some 99% of long grain rice and peanut base acres and 94% of medium grain rice base acres were enrolled in PLC.

This story was written by Philip Brasher for Agri-Pulse Communications, Inc.

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