[Listen] Kent Thiesse Farm Bill Signup PLC or ARC County?
It was one year ago farmers were signing up for the first 2 years of the Farm Bill. We signed up for the first 2 years because Congress did not get the Farm Bill passed in time to signup the first year. Now, farmers need to signup for the Farm Bill each year. One major change over the previous Farm Bill is that each year in the current Farm Bill we can decide if we want to choose PLC or ARC County. In the previous Farm Bill you made the choice the first year and could not change it for the remainder of the 5 year Farm Bill.
Most farmers chose ARC County for beans and PLC for corn last year and as it turned out that was the best option because of the big drop in corn prices. Most farmers earned at least a corn payment. But, what about this year, which option should we choose? It appears ARC County looks like the best choice for beans. Because of the big increase in corn prices many analyst are thinking we should choose ARC County on corn too. Ag Analyst Kent Thiesse from Lake Crystal said, "hold the horses" lets look at the data.
Generally speaking, PLC offers more protection for low prices than ARC County does. Just because corn prices are high now the question is will they be high next year? Click on the link and listen to Ag Analyst Kent Thiesse talk about what you need to consider.
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