[Listen] Will There Be a Payment This Fall From the Farm Bill?
The marketing year for the 2019 crop year ends August 31, 2020. Up until March it did not look like corn and beans prices would be low enough to earn a Farm Bill Payment. Then the COVID-19 pandemic hit and corn and bean prices crashed very quickly. Now it looks like we will earn a payment under the New Farm Bill. If payments are earned Farm Service Agency offices make them in early to Mid-October.
Most farmers took the option of Price Loss Coverage (PLC) for their corn and Arc County (ARC) for soybeans. It appears that was the correct decision because that will earn the largest Farm Bill payment. It gets pretty complicated to try and figure out what the payments will be using the price and county averages. But then, I do not have to try and figure that out because I know Ag Analyst Kent Thiesse from Lake Crystal. Click on the link about and listen to Kent talk about projected Farm Bill payments for corn and soybeans for the 2019 marketing year!