2019 PLC Payment Rates Finalized For Most Crops

WASHINGTON, DC – USDA has finalized payment rates for covered commodities under the 2018 Farm Bill. For the PLC (Price Loss Coverage) program, payments are made when the market year average (MYA) prices slip below the reference price. ARC (Average Revenue Coverage) payments are made when the actual farm revenue falls below the guarantee. Though some rates were announced in August, the majority of crops were addressed on September 30, 2020, and the seed cotton price was announced on October 6, 2020. Final rates for most rice varieties will be announced at end of October and sunflower, mustard, and sesame seed prices will be announced at the end of November.

PLC Payments rates are as follows:
Wheat 0.92/bu
Barley 0.26/bu
Oats 0.00/bu
Peanuts 0.0625/lb
Corn 0.14/bu
Grain Sorghum 0.61/bu
Soybeans 0.00/bu
Dry Peas 0.0136/lb
Canola 0.0535/lb
Lentils 0.0663/lb
Large Chickpeas 0.0697/lb
Small Chickpeas 0.0560/lb
Seed Cotton 0.0612/lb
(SOURCE: All Ag News)