The U.S. Department of Agriculture (USDA) wants to remind farm owners the deadline to update yields that are on file for the Price Loss Coverage (PLC) program is Sept. 30. This deadline is to update yields that are used to calculate the PLC payments for 2020 through 2023. Plus, producers who elected Agriculture Risk Coverage (ARC) should also consider updating their yields. USDA Farm Service Agency (FSA) Administrator Richard Fordyce said the last time farmers could update yields for this safety-net program was in 2014. And he explains who needs to decide on whether or not to update.
For program payments, updated yields will apply beginning with the 2020 crop year which, should payments trigger, will be paid out in October of 2021. For more information on the crops involved and national yield factor rates, reference resources, and decision tools, visit farmers.gov/arc-plc or contact your local FSA county office.