The deadline to enroll in ARC-County, ARC-Individual, or PLC program contracts for the 2022 year is March 15th, 2022.
The Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs serve as important financial safety-nets for producers through ensured payment coverage of crops and farms when negative economic conditions arise.
The ARC - County program (ARC-CO) provides income support based on a historical production volume when the actual county crop revenue is less than then the ARC-CO guaranteed for the covered commodity. The ARC – Individual program provides income support coverage based on the production of the entire farm as opposed to ARC-CO which is ensured by a crop-by-crop bases. Producers that are enrolled in an ARC program are ineligible to purchase Supplemental Coverage Option through their insurance provider, however, they can purchase the Enhanced Coverage Option while enrolled in an ARC program.
The PLC program provides financial support to producers through ensured payments when the effective price for the commodity (which is calculated as the higher of the market year average or the national average loan rate covered for the commodity) is less than the reference price for that commodity (which is set by the USDA). Producers enrolled in the PLC program are eligible to purchase both the Supplemental Coverage Option and the Enhanced Coverage Option through their insurance provider.
Crops that are eligible for the ARC and PLC programs are: corn, wheat, soybean, seed cotton, rice, peanuts and grain sorghum, among other crops.
Each producer must sign a new contract each year to be eligible to for the ARC and PLC programs. If a producer has a multi-year contract on the farm and makes an election change for 2022, it will be necessary to sing a new contract for 2022 coverage. The deadline to sign a new contract or make an election for the 2022 year is March 15th, 2022.
Click here (ARC/PLC Program (usda.gov)) for more information about the ARC/PLC programs.
Find and contact your local USDA Service center here (Find Your Local Service Center | Farmers.gov)