SPIRIT LAKE, Iowa — Iowa producers have until March 15 to make their annual election for Price Loss Coverage or Agriculture Risk Coverage (at the individual or county levels) under 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.
In order to help Iowans understand their options for 2021, Iowa State University Extension will hold in-person meetings throughout northwest Iowa in February through early March, as well as offer virtual webinars for those who cannot attend in person.
“The key decision is between Price Loss Coverage and Agriculture Risk Coverage (county or individual),” Gary Wright, farm management specialist with ISU Extension, said in a news release.
Wright explained that PLC payments are triggered when the marketing year average price falls below the reference prices of $3.70 per bushel for corn and $8.40 per bushel for soybeans. Whereas, ARC-CO payments are triggered when actual county revenue for the crop is less than the guarantee.
Wright says current USDA projections for 2021 are close to $4 per bushel for corn and $10.55 per bushel for soybeans.
Current in-person meetings are scheduled as follows:
- Feb. 17, 5:30 p.m., Expo Center, 310 NE 1st St., Pocahontas; preregister to 712-335-3103
- Feb. 23, 9:30 a.m., Extension Cherokee County Office, 209 Centennial Dr., Cherokee; 712-225-6196
- Feb. 24, 9:30 a.m., Prairie Lakes AEA Building, 824 Flindt Dr., Storm Lake; 712-732-5056.
- March 1, 7 p.m., Le Mars Convention Center, 251 12th St. SE, Le Mars; 712-546-7835
- March 2, 5:30 p.m., Dordt University Ag Stewardship Center, 3648 US 75, Sioux Center; 712-737-4230
- March 4, 1 p.m., Immanuel Lutheran, 409 N. 6th St., Estherville; 712-362-3434
- March 9, 9:30 a.m., Community Room, Dickinson County Fairgrounds, 1602 15th St., Spirit Lake; 712-336-3488
- March 11, 9:30 a.m., Grace United Methodist Church, 311 2nd Ave. W, Spencer; 712-262-2264
Sessions will be one-hour in length, with additional time for questions at the end.